Newmont (NYSE:NEM) Trading 3.8% Higher - Should You Buy?

Newmont Co. (NYSE:NEM - Get Free Report)'s stock price traded up 3.8% during trading on Thursday . The stock traded as high as $55.40 and last traded at $55.33. 4,840,379 shares were traded during trading, a decline of 53% from the average session volume of 10,244,402 shares. The stock had previously closed at $53.31.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Raymond James reissued an "outperform" rating and issued a $66.00 price objective on shares of Newmont in a research note on Friday, April 25th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Newmont in a research report on Thursday, April 24th. Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Royal Bank of Canada boosted their target price on shares of Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Finally, TD Securities cut their price target on shares of Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Newmont has a consensus rating of "Moderate Buy" and an average price target of $57.68.

Newmont Stock Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The company has a market cap of $63.87 billion, a PE ratio of 19.55, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31. The business has a fifty day simple moving average of $52.74 and a two-hundred day simple moving average of $46.27.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.54. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The firm had revenue of $5.01 billion during the quarter, compared to analysts' expectations of $4.82 billion. During the same period in the prior year, the business posted $0.55 EPS. Research analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Tuesday, May 27th. Newmont's payout ratio is currently 22.42%.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the completion of the sale, the executive vice president now directly owns 77,526 shares in the company, valued at approximately $4,193,381.34. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $112,344.93. Following the completion of the sale, the director now owns 45,180 shares of the company's stock, valued at $2,443,786.20. This trade represents a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,154 shares of company stock valued at $381,539 over the last 90 days. Insiders own 0.05% of the company's stock.

Institutional Investors Weigh In On Newmont

A number of large investors have recently made changes to their positions in the stock. Fruth Investment Management lifted its position in Newmont by 1.3% during the 1st quarter. Fruth Investment Management now owns 30,949 shares of the basic materials company's stock worth $1,494,000 after acquiring an additional 400 shares during the period. Inspire Investing LLC raised its stake in shares of Newmont by 0.3% in the first quarter. Inspire Investing LLC now owns 109,716 shares of the basic materials company's stock worth $5,297,000 after purchasing an additional 311 shares during the last quarter. Birmingham Capital Management Co. Inc. AL raised its stake in shares of Newmont by 53.4% in the first quarter. Birmingham Capital Management Co. Inc. AL now owns 10,050 shares of the basic materials company's stock worth $485,000 after purchasing an additional 3,500 shares during the last quarter. Strs Ohio acquired a new stake in shares of Newmont during the first quarter worth about $17,330,000. Finally, Ellsworth Advisors LLC boosted its position in Newmont by 24.4% in the first quarter. Ellsworth Advisors LLC now owns 21,399 shares of the basic materials company's stock valued at $1,033,000 after buying an additional 4,194 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

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.