Newmont (NYSE:NEM) Trading Down 2.3% - Time to Sell?

Newmont Co. (NYSE:NEM - Get Free Report) traded down 2.3% during trading on Wednesday . The stock traded as low as $51.64 and last traded at $53.27. 9,566,125 shares changed hands during trading, a decline of 4% from the average session volume of 9,926,989 shares. The stock had previously closed at $54.54.

Analysts Set New Price Targets

NEM has been the topic of several recent research reports. National Bank Financial upgraded shares of Newmont to a "hold" rating in a research report on Friday, March 21st. StockNews.com upgraded Newmont from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. The Goldman Sachs Group began coverage on Newmont in a research report on Monday, January 13th. They set a "buy" rating and a $47.20 price objective on the stock. BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a research note on Thursday. Finally, UBS Group upgraded 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 note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Newmont has a consensus rating of "Moderate Buy" and an average target price of $55.40.

Newmont Stock Performance

The firm has a 50 day moving average price of $47.89 and a 200 day moving average price of $45.13. The stock has a market cap of $60.79 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM - Get Free Report) last posted 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. The firm had revenue of $5.01 billion during the quarter, compared to analysts' expectations of $4.82 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. As a group, research analysts forecast that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders 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 dividend yield of 1.85%. Newmont's dividend payout ratio (DPR) is presently 34.13%.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $89,082.53. Following the completion of the sale, the director now directly owns 49,993 shares in the company, valued at approximately $2,144,199.77. The trade was a 3.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $131,130.00. Following the completion of the transaction, the executive vice president now owns 86,526 shares in the company, valued at $3,782,051.46. The trade was a 3.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,154 shares of company stock valued at $825,678 in the last 90 days. 0.05% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Newmont

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Newmont in the fourth quarter valued at approximately $626,074,000. Voloridge Investment Management LLC acquired a new position in shares of Newmont in the 4th quarter valued at $92,693,000. Capital Research Global Investors grew its holdings in shares of Newmont by 70.7% during the 4th quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock worth $210,105,000 after purchasing an additional 2,338,953 shares during the period. Renaissance Technologies LLC acquired a new stake in Newmont in the fourth quarter valued at approximately $76,281,000. Finally, Invesco Ltd. grew its holdings in Newmont by 23.9% during the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock worth $391,568,000 after acquiring an additional 2,028,150 shares in the last quarter. Institutional investors and hedge funds 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.