Newmont (NYSE:NEM) Stock Price Down 2.5% - Time to Sell?

Newmont Co. (NYSE:NEM - Get Free Report) shares traded down 2.5% during mid-day trading on Thursday . The company traded as low as $50.77 and last traded at $51.35. 3,957,618 shares were traded during trading, a decline of 60% from the average session volume of 9,816,532 shares. The stock had previously closed at $52.68.

Analyst Ratings Changes

NEM has been the topic of several research reports. Argus set a $63.00 price target on shares of Newmont in a research report on Friday, April 25th. TD Securities cut their target price on shares of Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, February 26th. UBS Group raised shares of Newmont from a "neutral" rating to a "buy" rating and upped their price target for the stock from $50.00 to $60.00 in a research report on Friday, April 11th. StockNews.com raised Newmont from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $55.63.

Newmont Stock Up 0.0 %

The stock has a market capitalization of $57.32 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 0.41 and a beta of 0.30. The firm's fifty day moving average is $48.59 and its 200-day moving average is $45.04. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.54. The firm had revenue of $5.01 billion for the quarter, compared to analysts' expectations of $4.82 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. During the same quarter in the prior year, the firm posted $0.55 earnings per share. On average, sell-side analysts predict that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Tuesday, May 27th. Newmont's dividend payout ratio is presently 22.42%.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $90,785.67. Following the transaction, the director now owns 47,916 shares of the company's stock, valued at $2,094,408.36. This trade represents a 4.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $128,670.00. Following the transaction, the executive vice president now directly owns 79,596 shares of the company's stock, valued at $3,413,872.44. This trade represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,154 shares of company stock worth $825,678. 0.05% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Newmont

Several institutional investors have recently modified their holdings of the company. Van ECK Associates Corp grew its position in Newmont by 1.6% in the 4th quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company's stock worth $1,851,606,000 after purchasing an additional 797,445 shares during the last quarter. Geode Capital Management LLC grew its holdings in Newmont by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock worth $919,484,000 after buying an additional 1,213,397 shares in the last quarter. Norges Bank acquired a new stake in Newmont in the 4th quarter valued at approximately $626,074,000. Bank of New York Mellon Corp raised its stake in Newmont by 8.9% during the 1st quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company's stock valued at $773,159,000 after acquiring an additional 1,306,783 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Newmont by 11.5% during the 4th quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock worth $474,263,000 after acquiring an additional 1,309,177 shares during the period. Institutional investors own 68.85% of the company's stock.

About Newmont

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.