Newmont's (NEM) Outperform Overweight Rating Reaffirmed at National Bank Financial

National Bank Financial reissued their outperform overweight rating on shares of Newmont (NYSE:NEM - Free Report) in a research note published on Monday morning, Zacks.com reports.

A number of other analysts have also issued reports on NEM. UBS Group lowered their price target on Newmont from $42.00 to $40.00 and set a neutral rating on the stock in a research note on Wednesday, December 13th. Scotiabank lowered their price target on Newmont from $50.00 to $43.50 and set a sector perform rating on the stock in a research note on Wednesday, February 28th. StockNews.com lowered Newmont from a hold rating to a sell rating in a research note on Monday, February 26th. TD Securities lowered their price target on Newmont from $40.00 to $36.00 and set a hold rating on the stock in a research note on Friday, February 23rd. Finally, Jefferies Financial Group started coverage on Newmont in a research note on Thursday, February 29th. They issued a buy rating and a $38.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $51.97.

Newmont Price Performance

Shares of Newmont stock traded down $0.42 on Monday, reaching $38.65. The company's stock had a trading volume of 24,331,226 shares, compared to its average volume of 13,762,309. The company has a market capitalization of $44.55 billion, a P/E ratio of -16.24, a PEG ratio of 1.05 and a beta of 0.50. Newmont has a 52-week low of $29.42 and a 52-week high of $51.46. The stock has a 50-day moving average price of $34.30 and a 200-day moving average price of $36.79. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.01). The business had revenue of $3.96 billion during the quarter, compared to analysts' expectations of $3.44 billion. Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The firm's quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 earnings per share. Analysts expect that Newmont will post 2.01 EPS for the current year.

Newmont Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 5th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.59%. Newmont's dividend payout ratio is presently -42.02%.

Institutional Investors Weigh In On Newmont

Several institutional investors and hedge funds have recently modified their holdings of the company. Blair William & Co. IL increased its holdings in Newmont by 14.8% during the 1st quarter. Blair William & Co. IL now owns 42,511 shares of the basic materials company's stock worth $3,378,000 after purchasing an additional 5,484 shares during the period. Sei Investments Co. increased its holdings in Newmont by 19.3% during the 1st quarter. Sei Investments Co. now owns 66,212 shares of the basic materials company's stock worth $5,219,000 after purchasing an additional 10,692 shares during the period. Cetera Investment Advisers increased its holdings in Newmont by 46.9% during the 1st quarter. Cetera Investment Advisers now owns 27,905 shares of the basic materials company's stock worth $2,217,000 after purchasing an additional 8,915 shares during the period. Baird Financial Group Inc. increased its holdings in Newmont by 7.2% during the 1st quarter. Baird Financial Group Inc. now owns 595,641 shares of the basic materials company's stock worth $47,324,000 after purchasing an additional 39,765 shares during the period. Finally, Parkside Financial Bank & Trust increased its holdings in Newmont by 25.8% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,354 shares of the basic materials company's stock worth $108,000 after purchasing an additional 278 shares during the period. Hedge funds and other institutional investors own 68.85% of the company's stock.

About Newmont

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.