Newmont (NYSE:NEM) Trading 1.1% Higher - Time to Buy?

Newmont Co. (NYSE:NEM - Get Free Report) shares were up 1.1% on Tuesday . The company traded as high as $56.16 and last traded at $55.80. Approximately 4,763,317 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 9,892,128 shares. The stock had previously closed at $55.21.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NEM shares. UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and upped their target price for the company from $50.00 to $60.00 in a research report on Friday, April 11th. National Bankshares restated a "sector perform" rating on shares of Newmont in a research report on Wednesday. TD Securities cut their price target on Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research note on Wednesday, February 26th. Argus set a $63.00 price objective on Newmont in a research note on Friday. Finally, Raymond James lifted their target price on shares of Newmont from $54.00 to $63.00 and gave the stock an "outperform" rating in a research report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Newmont presently has an average rating of "Moderate Buy" and an average target price of $55.40.

Newmont Stock Down 3.2 %

The company has a market cap of $60.79 billion, a PE ratio of 18.41, a P/E/G ratio of 0.41 and a beta of 0.54. The stock has a 50-day moving average of $47.89 and a 200-day moving average of $45.13. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.71 by $0.54. The company had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.82 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Sell-side analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

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 given a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.85%. Newmont's dividend payout ratio (DPR) is presently 34.13%.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the business'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 transaction, the director now directly owns 49,993 shares of the company's stock, valued at approximately $2,144,199.77. The trade was a 3.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $128,670.00. Following the transaction, the executive vice president now owns 79,596 shares in the company, valued at $3,413,872.44. This represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,154 shares of company stock valued at $825,678 over the last quarter. 0.05% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Newmont

Hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Newmont in the fourth quarter worth $626,074,000. Voloridge Investment Management LLC bought a new position in shares of Newmont in the fourth quarter worth approximately $92,693,000. Capital Research Global Investors raised its holdings in Newmont by 70.7% in the 4th quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock worth $210,105,000 after acquiring an additional 2,338,953 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Newmont during the 4th quarter valued at $76,281,000. Finally, Invesco Ltd. lifted its holdings in shares of Newmont by 23.9% during the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock valued at $391,568,000 after purchasing an additional 2,028,150 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

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.