Shares of Newmont Co. (NYSE:NEM) have been given a consensus recommendation of "Buy" by the fifteen ratings firms that are presently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $71.83.
NEM has been the topic of several recent analyst reports. TD Securities decreased their price target on Newmont from $78.00 to $74.00 and set a "buy" rating on the stock in a research note on Friday, February 26th. Fundamental Research decreased their price target on Newmont from $74.35 to $69.96 and set a "buy" rating on the stock in a research note on Friday, February 19th. Citigroup decreased their price target on Newmont from $70.00 to $66.00 in a research note on Friday, February 19th. National Bank Financial reaffirmed an "outperform" rating on shares of Newmont in a research note on Tuesday, February 2nd. Finally, Raymond James decreased their price target on Newmont from $86.00 to $78.00 and set an "outperform" rating on the stock in a research note on Tuesday.
In other Newmont news, CEO Thomas Ronald Palmer sold 5,150 shares of the company's stock in a transaction dated Thursday, April 1st. The stock was sold at an average price of $61.03, for a total transaction of $314,304.50. Following the sale, the chief executive officer now owns 281,825 shares in the company, valued at approximately $17,199,779.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP E Randall Engel sold 5,000 shares of the company's stock in a transaction dated Wednesday, February 10th. The stock was sold at an average price of $60.73, for a total value of $303,650.00. Following the sale, the executive vice president now owns 259,397 shares in the company, valued at approximately $15,753,179.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,522 shares of company stock worth $1,672,787. 0.28% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of NEM. Van ECK Associates Corp increased its holdings in shares of Newmont by 5.9% in the 4th quarter. Van ECK Associates Corp now owns 38,024,490 shares of the basic materials company's stock valued at $2,277,287,000 after acquiring an additional 2,105,656 shares during the last quarter. Boenning & Scattergood Inc. increased its holdings in shares of Newmont by 31.1% in the 4th quarter. Boenning & Scattergood Inc. now owns 13,495 shares of the basic materials company's stock valued at $808,000 after acquiring an additional 3,201 shares during the last quarter. RWC Asset Management LLP increased its holdings in shares of Newmont by 9.9% in the 4th quarter. RWC Asset Management LLP now owns 2,119,922 shares of the basic materials company's stock valued at $126,869,000 after acquiring an additional 190,779 shares during the last quarter. Capital Wealth Planning LLC purchased a new position in shares of Newmont in the 4th quarter valued at about $72,020,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Newmont by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,410,551 shares of the basic materials company's stock valued at $324,072,000 after acquiring an additional 116,987 shares during the last quarter. Institutional investors own 79.18% of the company's stock.
NYSE NEM opened at $62.01 on Thursday. The stock's fifty day moving average is $58.95 and its two-hundred day moving average is $60.85. The firm has a market capitalization of $49.63 billion, a P/E ratio of 19.50 and a beta of 0.14. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.47 and a current ratio of 2.83. Newmont has a fifty-two week low of $49.36 and a fifty-two week high of $72.22.
Newmont (NYSE:NEM) last released its quarterly earnings data on Wednesday, February 17th. The basic materials company reported $1.06 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.95 by $0.11. Newmont had a return on equity of 7.37% and a net margin of 23.19%. During the same quarter last year, the company earned $0.50 EPS. As a group, sell-side analysts forecast that Newmont will post 2.56 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 18th. Investors of record on Thursday, March 4th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend was Wednesday, March 3rd. This is an increase from Newmont's previous quarterly dividend of $0.40. Newmont's payout ratio is currently 121.21%.
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, and Ghana. As of December 31, 2020, it had proven and probable gold reserves of 94.2 million ounces and land position of 58,900 square kilometers.
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