Newmont (NYSE:NEM) Shares Down 1% - What's Next?

Shares of Newmont Co. (NYSE:NEM - Get Free Report) dropped 1% during trading on Tuesday . The company traded as low as $49.79 and last traded at $50.30. Approximately 5,029,362 shares traded hands during trading, a decline of 49% from the average daily volume of 9,928,972 shares. The stock had previously closed at $50.78.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NEM. Argus set a $63.00 price objective on shares of Newmont in a research note on Friday, April 25th. TD Securities dropped their price target on shares of Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a research report on Wednesday, February 26th. National Bankshares reissued a "sector perform" rating on shares of Newmont in a research report on Wednesday, April 23rd. UBS Group raised shares of Newmont from a "neutral" rating to a "buy" rating and raised their target price for the stock from $50.00 to $60.00 in a research report on Friday, April 11th. Finally, StockNews.com raised shares of Newmont from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $55.63.

Newmont Price 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 capitalization of $55.06 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 0.41 and a beta of 0.31. The business has a fifty day moving average price of $50.20 and a 200 day moving average price of $44.97.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results 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. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The company had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the previous year, the business posted $0.55 EPS. On average, research analysts expect that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.02%. The ex-dividend date is Tuesday, May 27th. Newmont's payout ratio is 22.42%.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the transaction, the director now directly owns 47,916 shares in the company, valued at approximately $2,094,408.36. This trade represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $131,130.00. Following the transaction, the executive vice president now owns 86,526 shares of the company's stock, valued at approximately $3,782,051.46. The trade was a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,154 shares of company stock worth $328,840 over the last ninety days. 0.05% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Newmont

A number of hedge funds have recently added to or reduced their stakes in the stock. Edmond DE Rothschild Holding S.A. grew its position in Newmont by 169.2% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 400,462 shares of the basic materials company's stock worth $19,334,000 after acquiring an additional 251,682 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Newmont by 3.5% during the 1st quarter. Alliancebernstein L.P. now owns 1,287,017 shares of the basic materials company's stock worth $62,137,000 after buying an additional 43,611 shares during the period. Banque Transatlantique SA lifted its holdings in Newmont by 586.2% during the 1st quarter. Banque Transatlantique SA now owns 22,440 shares of the basic materials company's stock worth $1,001,000 after buying an additional 19,170 shares during the period. AQR Capital Management LLC lifted its holdings in Newmont by 2,054.6% during the 1st quarter. AQR Capital Management LLC now owns 921,929 shares of the basic materials company's stock worth $44,382,000 after buying an additional 879,140 shares during the period. Finally, Atalanta Sosnoff Capital LLC acquired a new position in Newmont during the 1st quarter worth about $200,000. 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.