Newmont (NYSE:NEM) Stock Price Down 4.9% - Here's Why

Newmont Co. (NYSE:NEM - Get Free Report) shares fell 4.9% on Monday . The company traded as low as $50.99 and last traded at $51.32. 7,487,454 shares changed hands during mid-day trading, a decline of 24% from the average session volume of 9,900,440 shares. The stock had previously closed at $53.98.

Analyst Ratings Changes

A number of research firms have weighed in on NEM. Raymond James reiterated an "outperform" rating and issued a $66.00 target price on shares of Newmont in a research note on Friday, April 25th. The Goldman Sachs Group began coverage on shares of Newmont in a research note on Monday, January 13th. They issued a "buy" rating and a $47.20 target price on the stock. StockNews.com upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. TD Securities dropped 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. Finally, National Bank Financial raised shares of Newmont to a "hold" rating in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $55.63.

Newmont Stock Down 5.9%

The firm has a market cap of $56.54 billion, a PE ratio of 17.34, a PEG ratio of 0.41 and a beta of 0.31. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The company's 50-day simple moving average is $49.69 and its two-hundred day simple moving average is $44.88.

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

Newmont Dividend Announcement

The business 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. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 1.97%. Newmont's dividend payout ratio (DPR) is presently 22.42%.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 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 transaction of $131,130.00. Following the completion of the sale, the executive vice president now directly owns 86,526 shares in the company, valued at approximately $3,782,051.46. This trade represents a 3.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $90,785.67. Following the sale, the director now owns 47,916 shares of the company's stock, valued at approximately $2,094,408.36. This represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,154 shares of company stock worth $328,840. 0.05% of the stock is currently owned by corporate insiders.

Institutional Trading of Newmont

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Benjamin Edwards Inc. bought a new stake in Newmont during the 1st quarter valued at about $535,000. Koa Wealth Management LLC increased its stake in Newmont by 102.9% during the 1st quarter. Koa Wealth Management LLC now owns 50,904 shares of the basic materials company's stock valued at $2,458,000 after purchasing an additional 25,812 shares in the last quarter. Frank Rimerman Advisors LLC grew its stake in shares of Newmont by 23.2% in the first quarter. Frank Rimerman Advisors LLC now owns 9,929 shares of the basic materials company's stock worth $479,000 after acquiring an additional 1,868 shares during the period. Zions Bancorporation National Association UT bought a new stake in shares of Newmont in the first quarter worth approximately $50,000. Finally, Townsquare Capital LLC grew its stake in shares of Newmont by 54.5% in the first quarter. Townsquare Capital LLC now owns 47,289 shares of the basic materials company's stock worth $2,283,000 after acquiring an additional 16,676 shares during the period. 68.85% of the stock is currently owned by 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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