Newmont (NYSE:NEM) Trading Up 1.3% - Should You Buy?

Shares of Newmont Co. (NYSE:NEM - Get Free Report) traded up 1.3% during trading on Tuesday . The stock traded as high as $54.38 and last traded at $53.73. 4,018,844 shares changed hands during trading, a decline of 59% from the average session volume of 9,840,065 shares. The stock had previously closed at $53.04.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Argus set a $63.00 price target on Newmont in a research report on Friday, April 25th. National Bank Financial upgraded Newmont to a "hold" rating in a report on Friday, March 21st. Cfra Research upgraded shares of Newmont to a "strong-buy" rating in a report on Friday, April 25th. UBS Group upgraded shares of Newmont from a "neutral" rating to a "buy" rating and upped their price target for the company from $50.00 to $60.00 in a report on Friday, April 11th. Finally, The Goldman Sachs Group began coverage on Newmont in a research note on Monday, January 13th. They set a "buy" rating and a $47.20 price target for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $55.63.

Newmont Stock Down 1.5 %

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 business's 50 day moving average price is $49.25 and its 200 day moving average price is $45.06. The firm has a market cap of $59.19 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping analysts' consensus estimates 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 previous year, the company earned $0.55 earnings per share. On average, equities analysts forecast that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Tuesday, May 27th. Newmont's dividend payout ratio is currently 22.42%.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of Newmont 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 transaction, the director now directly owns 47,916 shares of the company's stock, valued at $2,094,408.36. The trade was a 4.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont 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 sale, the executive vice president now owns 86,526 shares in the company, valued at $3,782,051.46. This represents a 3.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,154 shares of company stock worth $328,840. 0.05% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. SOA Wealth Advisors LLC. boosted its stake in Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 201 shares in the last quarter. Cloud Capital Management LLC purchased a new position in shares of Newmont during the first quarter worth approximately $26,000. Private Trust Co. NA raised its holdings in shares of Newmont by 122.6% in the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock valued at $30,000 after buying an additional 347 shares during the last quarter. Nexus Investment Management ULC purchased a new position in shares of Newmont during the first quarter worth about $31,000. Finally, Alpine Bank Wealth Management acquired a new stake in Newmont during the 1st quarter worth approximately $32,000. Hedge funds and other 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.