Newmont (NYSE:NEM) Shares Down 0.4% - Here's Why

Newmont Co. (NYSE:NEM - Get Free Report) traded down 0.4% on Monday . The stock traded as low as $53.10 and last traded at $53.74. 2,870,933 shares changed hands during trading, a decline of 71% from the average session volume of 9,833,392 shares. The stock had previously closed at $53.94.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Raymond James reiterated an "outperform" rating and set a $66.00 target price on shares of Newmont in a research report on Friday, April 25th. Argus set a $63.00 price target on Newmont in a research note on Friday, April 25th. Royal Bank of Canada upped their price target on Newmont from $51.00 to $52.00 and gave the stock a "sector perform" rating in a research note on Friday, April 4th. TD Securities dropped their price target on Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a research note on Wednesday, February 26th. Finally, National Bankshares restated a "sector perform" rating on shares of Newmont in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $55.63.

Newmont Trading Down 0.5 %

The business's 50-day moving average price is $48.27 and its 200 day moving average price is $45.17. 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 firm has a market capitalization of $59.40 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.54. The firm had revenue of $5.01 billion for 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 period in the prior year, the company posted $0.55 earnings per share. On average, equities analysts forecast that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, May 27th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.90%. Newmont's dividend payout ratio (DPR) is 22.42%.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $128,670.00. Following the completion of 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the 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 completion of the transaction, the director now owns 47,916 shares of the company's stock, valued at $2,094,408.36. This represents a 4.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,154 shares of company stock worth $825,678. Insiders own 0.05% of the company's stock.

Hedge Funds Weigh In On Newmont

Several large investors have recently made changes to their positions in the business. Van ECK Associates Corp boosted its position in shares of Newmont by 1.6% during the 4th quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company's stock valued at $1,851,606,000 after purchasing an additional 797,445 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Newmont by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock valued at $919,484,000 after purchasing an additional 1,213,397 shares in the last quarter. Norges Bank acquired a new position in shares of Newmont in the fourth quarter worth about $626,074,000. Bank of New York Mellon Corp increased its position in shares of Newmont by 8.9% in 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 acquiring an additional 1,306,783 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Newmont by 11.5% during the fourth quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock valued at $474,263,000 after acquiring an additional 1,309,177 shares during the period. 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.