Newmont (NYSE:NEM) Shares Down 1.6% - Should You Sell?

Newmont Co. (NYSE:NEM - Get Free Report)'s stock price was down 1.6% during trading on Tuesday . The stock traded as low as $53.14 and last traded at $53.21. Approximately 2,034,515 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 9,828,014 shares. The stock had previously closed at $54.07.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NEM. UBS Group raised Newmont from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $50.00 to $60.00 in a research report on Friday, April 11th. Cfra Research upgraded Newmont to a "strong-buy" rating in a research note on Friday. Raymond James restated an "outperform" rating and set a $66.00 target price on shares of Newmont in a research report on Friday. BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. Finally, National Bank Financial raised shares of Newmont to a "hold" rating in a report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Newmont has an average rating of "Moderate Buy" and a consensus price target of $55.63.

Newmont Price Performance

The company has a 50-day moving average of $48.02 and a 200-day moving average of $45.07. The stock has a market capitalization of $59.79 billion, a price-to-earnings ratio of 18.10, a P/E/G ratio of 0.41 and a beta of 0.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.54. The firm had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. During the same quarter in the previous year, the company posted $0.55 EPS. As a group, equities research analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.89%. Newmont's payout ratio is 22.42%.

Insiders Place Their Bets

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $386,010.00. Following the transaction, the chief operating officer now directly owns 136,967 shares of the company's stock, valued at $5,874,514.63. This trade represents a 6.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $89,082.53. Following the completion of the transaction, the director now owns 49,993 shares of the company's stock, valued at $2,144,199.77. This trade represents a 3.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,154 shares of company stock worth $825,678 over the last ninety days. 0.05% of the stock is owned by company insiders.

Hedge Funds Weigh In On Newmont

A number of hedge funds and other institutional investors have recently bought and sold shares of NEM. SOA Wealth Advisors LLC. increased its stake in shares of Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 201 shares during the period. Private Trust Co. NA lifted its position in shares of Newmont by 122.6% in the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after purchasing an additional 347 shares in the last quarter. Nexus Investment Management ULC purchased a new stake in Newmont in the 1st quarter worth approximately $31,000. Alpine Bank Wealth Management acquired a new position in Newmont in the 1st quarter worth about $32,000. Finally, PSI Advisors LLC lifted its holdings in shares of Newmont by 195.5% during the 1st quarter. PSI Advisors LLC now owns 795 shares of the basic materials company's stock valued at $38,000 after buying an additional 526 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Company Profile

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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