Newmont (NYSE:NEM) Stock Price Down 3.4% - Time to Sell?

Newmont Co. (NYSE:NEM - Get Free Report) was down 3.4% on Friday . The company traded as low as $52.81 and last traded at $52.64. Approximately 3,651,616 shares changed hands during trading, a decline of 64% from the average daily volume of 10,195,408 shares. The stock had previously closed at $54.51.

Wall Street Analyst Weigh In

NEM has been the subject of several research analyst reports. UBS Group raised Newmont from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $50.00 to $60.00 in a research note on Friday, April 11th. Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. National Bankshares reiterated a "sector perform" rating on shares of Newmont in a research report on Wednesday, April 23rd. Argus set a $63.00 price objective on shares of Newmont in a report on Friday, April 25th. Finally, National Bank Financial raised shares of Newmont to a "hold" rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $57.68.

Newmont Stock Down 3.4%

The company has a 50 day moving average price of $52.08 and a 200-day moving average price of $45.91. The stock has a market capitalization of $58.58 billion, a PE ratio of 17.95, a PEG ratio of 0.41 and a beta of 0.31. 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 issued its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The business 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 firm earned $0.55 EPS. As a group, analysts forecast that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Tuesday, May 27th. Newmont's payout ratio is currently 22.42%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Van ECK Associates Corp raised 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 buying an additional 797,445 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Newmont by 5.2% in the fourth 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 bought a new stake in shares of Newmont in the 4th quarter worth about $626,074,000. Bank of New York Mellon Corp boosted its stake in Newmont by 8.9% during the first quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company's stock worth $773,159,000 after buying an additional 1,306,783 shares during the period. Finally, Northern Trust Corp increased its stake in Newmont by 1.5% in the first quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company's stock worth $624,458,000 after purchasing an additional 191,940 shares during the period. 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.

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