Newmont (NYSE:NEM) Earns Buy Rating from Analysts at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Newmont (NYSE:NEM - Free Report) in a research report released on Wednesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $73.00 target price on the basic materials company's stock.

Several other equities analysts also recently weighed in on NEM. Argus set a $63.00 price target on Newmont in a report on Friday, April 25th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $60.90 price objective on shares of Newmont in a research report on Tuesday. National Bankshares reaffirmed a "sector perform" rating on shares of Newmont in a research report on Tuesday, June 24th. Royal Bank Of Canada increased their price objective on Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Finally, UBS Group increased their price objective on Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Newmont presently has an average rating of "Moderate Buy" and a consensus target price of $61.41.

Newmont Trading Up 1.2%

NEM stock traded up $0.71 on Wednesday, reaching $59.46. The company's stock had a trading volume of 3,784,193 shares, compared to its average volume of 10,624,354. The business has a fifty day simple moving average of $55.01 and a two-hundred day simple moving average of $48.61. Newmont has a 12-month low of $36.86 and a 12-month high of $60.31. The firm has a market cap of $66.17 billion, a PE ratio of 13.31, a PEG ratio of 0.65 and a beta of 0.33. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.70 and a current ratio of 1.98.

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 (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 the consensus estimate of $4.82 billion. Newmont had a return on equity of 15.75% and a net margin of 25.77%. During the same quarter in the prior year, the company earned $0.55 earnings per share. As a group, research analysts forecast that Newmont will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.68%. Newmont's payout ratio is currently 22.42%.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total transaction of $162,270.00. Following the transaction, the executive vice president directly owned 77,526 shares of the company's stock, valued at $4,193,381.34. The trade was a 3.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total value of $122,023.75. Following the completion of the transaction, the director directly owned 43,103 shares in the company, valued at approximately $2,532,301.25. This represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,231 shares of company stock worth $679,813. Insiders own 0.05% of the company's stock.

Institutional Investors Weigh In On Newmont

A number of hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC increased its holdings in shares of Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock valued at $506,000 after purchasing an additional 1,847 shares during the period. Assetmark Inc. lifted its position in Newmont by 185.9% during the fourth quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company's stock worth $47,000 after buying an additional 820 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Newmont during the fourth quarter worth approximately $3,956,000. Raymond James Financial Inc. acquired a new stake in Newmont during the fourth quarter worth $35,117,000. Finally, Daiwa Securities Group Inc. increased its stake in Newmont by 5.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 195,409 shares of the basic materials company's stock worth $7,273,000 after acquiring an additional 10,014 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

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.