Stifel Nicolaus Begins Coverage on Newmont (NYSE:NEM)

Stifel Nicolaus assumed coverage on shares of Newmont (NYSE:NEM - Free Report) in a research note released on Wednesday, Marketbeat reports. The firm issued a buy rating and a $73.00 price target on the basic materials company's stock.

A number of other analysts have also recently commented on NEM. National Bank Financial raised Newmont to a "hold" rating in a research report on Friday, March 21st. Cfra Research upgraded shares of Newmont to a "strong-buy" rating in a research note on Friday, April 25th. BMO Capital Markets reiterated an "outperform" rating on shares of Newmont in a research note on Thursday, April 24th. Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $60.90 price target on shares of Newmont in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $61.45.

Newmont Trading Up 0.6%

NYSE:NEM traded up $0.34 during mid-day trading on Wednesday, reaching $60.12. 9,103,957 shares of the company's stock traded hands, compared to its average volume of 10,654,017. Newmont has a 12-month low of $36.86 and a 12-month high of $60.31. The company has a 50 day moving average price of $55.34 and a 200-day moving average price of $48.99. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70. The firm has a market capitalization of $66.91 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 0.68 and a beta of 0.33.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.54. Newmont had a return on equity of 15.75% and a net margin of 25.77%. The firm had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the prior year, the business earned $0.55 EPS. On average, sell-side analysts predict that Newmont will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Tuesday, May 27th. Newmont's payout ratio is 22.42%.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $122,023.75. Following the completion of the transaction, the director owned 43,103 shares of the company's stock, valued at approximately $2,532,301.25. This trade represents a 4.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm's 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 completion of the sale, the executive vice president directly owned 77,526 shares of the company's stock, valued at approximately $4,193,381.34. The trade was a 3.73% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,231 shares of company stock valued at $679,813. 0.05% of the stock is owned by insiders.

Hedge Funds Weigh In On Newmont

A number of institutional investors have recently modified their holdings of the stock. SOA Wealth Advisors LLC. increased its holdings in Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after buying an additional 201 shares during the period. Cloud Capital Management LLC acquired a new stake in Newmont in the first quarter valued at approximately $26,000. Colonial Trust Advisors boosted its stake in Newmont by 315.4% in the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company's stock valued at $27,000 after acquiring an additional 429 shares in the last quarter. Private Trust Co. NA lifted its stake in shares of Newmont by 122.6% during the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company's stock worth $30,000 after buying an additional 347 shares during the period. Finally, Nexus Investment Management ULC acquired a new stake in shares of Newmont during the first quarter worth $31,000. 68.85% of the stock is 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.