Stifel Nicolaus Initiates Coverage on Newmont (NYSE:NEM)

Stifel Nicolaus initiated coverage on shares of Newmont (NYSE:NEM - Free Report) in a report issued 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.

NEM has been the subject of several other research reports. Argus set a $63.00 target price on shares of Newmont in a report on Friday, April 25th. Scotiabank restated a "sector perform" rating on shares of Newmont in a research note on Monday, April 14th. Cfra Research upgraded shares of Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $60.90 price target on shares of Newmont in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.41.

Newmont Trading Up 2.2%

Shares of NEM stock traded up $1.25 during trading on Wednesday, hitting $58.86. 9,987,352 shares of the stock traded hands, compared to its average volume of 10,627,357. The firm has a market capitalization of $65.51 billion, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 0.76 and a beta of 0.33. 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's fifty day moving average price is $54.88 and its 200-day moving average price is $48.54. Newmont has a 52-week low of $36.86 and a 52-week high of $60.31.

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, beating the consensus estimate of $0.71 by $0.54. Newmont had a net margin of 25.77% and a return on equity of 15.75%. The firm had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the firm earned $0.55 EPS. As a group, research analysts forecast that Newmont will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders 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 yield of 1.70%. Newmont's payout ratio is presently 22.42%.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were 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 in the company, valued at approximately $4,193,381.34. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $122,023.75. Following the transaction, the director directly owned 43,103 shares in the company, valued at $2,532,301.25. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,231 shares of company stock worth $679,813 in the last quarter. 0.05% of the stock is owned by corporate insiders.

Institutional Trading of Newmont

A number of institutional investors have recently bought and sold shares of the company. Central Valley Advisors LLC boosted its position in Newmont by 3.4% during the second quarter. Central Valley Advisors LLC now owns 36,985 shares of the basic materials company's stock valued at $2,155,000 after purchasing an additional 1,230 shares during the last quarter. Radnor Capital Management LLC grew its position in Newmont by 1.9% in the second quarter. Radnor Capital Management LLC now owns 20,320 shares of the basic materials company's stock worth $1,184,000 after acquiring an additional 375 shares in the last quarter. Sunpointe LLC grew its position in Newmont by 419.2% in the second quarter. Sunpointe LLC now owns 27,391 shares of the basic materials company's stock worth $1,596,000 after acquiring an additional 22,115 shares in the last quarter. Procyon Advisors LLC grew its position in Newmont by 7.7% in the second quarter. Procyon Advisors LLC now owns 16,032 shares of the basic materials company's stock worth $934,000 after acquiring an additional 1,151 shares in the last quarter. Finally, Pallas Capital Advisors LLC bought a new stake in Newmont in the second quarter worth approximately $290,000. Institutional investors and hedge funds 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.