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.
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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
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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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