Shares of Newmont Corporation (NYSE:NEM - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $61.53 and last traded at $61.34, with a volume of 3089261 shares changing hands. The stock had previously closed at $59.86.
Analysts Set New Price Targets
NEM has been the topic of a number of recent analyst reports. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. UBS Group upped their target price on shares of Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Cfra Research raised shares of Newmont to a "strong-buy" rating in a research report on Friday, April 25th. Scotiabank reissued a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. Finally, Stifel Canada raised shares of Newmont to a "strong-buy" rating in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.49.
View Our Latest Research Report on Newmont
Newmont Trading Down 0.2%
The company has a quick ratio of 1.70, a current ratio of 1.98 and a debt-to-equity ratio of 0.25. The business has a fifty day simple moving average of $56.50 and a 200 day simple moving average of $50.11. The company has a market cap of $68.21 billion, a price-to-earnings ratio of 13.74, a P/E/G ratio of 0.92 and a beta of 0.33.
Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.54. The business had revenue of $5.01 billion during the quarter, compared to analysts' expectations of $4.82 billion. Newmont had a return on equity of 15.75% and a net margin of 25.77%. During the same quarter last year, the business posted $0.55 earnings per share. On average, equities analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.
Insider Activity at Newmont
In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total value of $122,023.75. Following the transaction, the director directly owned 43,103 shares of the company's stock, valued at $2,532,301.25. This represents a 4.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total value of $162,270.00. Following the sale, the executive vice president directly owned 77,526 shares in the company, valued at approximately $4,193,381.34. This represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,231 shares of company stock worth $679,813 over the last three months. 0.05% of the stock is currently owned by corporate insiders.
Institutional Trading of Newmont
Several institutional investors have recently modified their holdings of the company. SOA Wealth Advisors LLC. lifted its stake in Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after acquiring an additional 201 shares in the last quarter. Cloud Capital Management LLC purchased a new stake in Newmont in the 1st quarter worth about $26,000. Colonial Trust Advisors lifted its stake in Newmont by 315.4% in the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock worth $27,000 after acquiring an additional 429 shares in the last quarter. Financial Management Professionals Inc. lifted its stake in Newmont by 274.1% in the 2nd quarter. Financial Management Professionals Inc. now owns 606 shares of the basic materials company's stock worth $35,000 after acquiring an additional 444 shares in the last quarter. Finally, ST Germain D J Co. Inc. lifted its stake in Newmont by 92.3% in the 2nd quarter. ST Germain D J Co. Inc. now owns 625 shares of the basic materials company's stock worth $36,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.
About Newmont
(
Get Free Report)
Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.
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