Newmont (NYSE:NEM) Trading Up 2.4% - Here's Why

Newmont Co. (NYSE:NEM - Get Free Report) rose 2.4% during mid-day trading on Monday . The stock traded as high as $53.05 and last traded at $52.76. Approximately 3,773,543 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 9,830,287 shares. The stock had previously closed at $51.53.

Analyst Ratings Changes

A number of research firms recently issued reports on NEM. StockNews.com upgraded Newmont from a "hold" rating to a "buy" rating in a report on Monday, February 24th. TD Securities cut 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. National Bank Financial upgraded shares of Newmont to a "hold" rating in a report on Friday, March 21st. Argus set a $63.00 price objective on shares of Newmont in a report on Friday, April 25th. Finally, Royal Bank of Canada boosted their target price on shares of Newmont from $51.00 to $52.00 and gave the stock a "sector perform" rating in a research note on Friday, April 4th. One 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 stock presently has an average rating of "Moderate Buy" and a consensus price target of $55.63.

Newmont Stock Performance

The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock has a market cap of $59.01 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 0.41 and a beta of 0.30. The stock's 50 day moving average is $48.59 and its two-hundred day moving average is $44.96.

Newmont (NYSE:NEM - Get Free Report) last issued 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 return on equity of 13.52% and a net margin of 17.92%. During the same quarter in the previous year, the firm posted $0.55 EPS. Analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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 issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont's dividend payout ratio is presently 22.42%.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the business'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 transaction, the director now directly owns 47,916 shares in the company, 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 legal filing with the SEC, which is available through this link. Also, 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 owns 86,526 shares of the company's stock, valued at approximately $3,782,051.46. The trade was a 3.35 % decrease in their position. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NEM. Ipswich Investment Management Co. Inc. increased its holdings in shares of Newmont by 1.4% in the 1st quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock valued at $689,000 after purchasing an additional 200 shares in the last quarter. SOA Wealth Advisors LLC. grew its holdings in shares of Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after acquiring an additional 201 shares during the period. HighPoint Advisor Group LLC increased its stake in Newmont by 3.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company's stock valued at $223,000 after purchasing an additional 219 shares in the last quarter. Rothschild Investment LLC raised its holdings in Newmont by 8.5% during the first quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock worth $135,000 after purchasing an additional 219 shares during the last quarter. Finally, Prudent Man Advisors LLC boosted its position in Newmont by 1.8% during the first quarter. Prudent Man Advisors LLC now owns 15,517 shares of the basic materials company's stock worth $749,000 after purchasing an additional 276 shares in the last quarter. 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.

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