Newmont - NEM Stock Forecast, Price & News

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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers. The company was founded in 1916 and is headquartered in Denver, Colorado.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on NEM shares. Canaccord Genuity Group raised shares of Newmont from a "hold" rating to a "buy" rating and cut their price target for the stock from $66.00 to $60.00 in a report on Wednesday, July 27th. Sanford C. Bernstein lowered shares of Newmont from an "outperform" rating to a "market perform" rating and set a $57.00 price target on the stock. in a report on Monday, April 25th. Raymond James cut their price target on shares of Newmont from $76.00 to $71.00 and set an "outperform" rating on the stock in a report on Tuesday, July 26th. National Bank Financial raised shares of Newmont from a "sector perform" rating to an "outperform" rating in a report on Wednesday, July 27th. Finally, National Bankshares dropped their price objective on shares of Newmont from $119.00 to $115.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 26th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $70.37.

Newmont Stock Performance

NYSE:NEM traded down $0.19 on Tuesday, reaching $45.75. 22,839 shares of the company's stock traded hands, compared to its average volume of 12,623,981. The firm has a market cap of $36.31 billion, a price-to-earnings ratio of 46.40 and a beta of 0.26. The stock has a 50 day moving average price of $55.82 and a 200-day moving average price of $66.25. Newmont has a fifty-two week low of $43.90 and a fifty-two week high of $86.37. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.44 and a current ratio of 2.82.

Newmont (NYSE:NEM - Get Rating) last posted its earnings results on Monday, July 25th. The basic materials company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.24). The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.04 billion. Newmont had a net margin of 6.40% and a return on equity of 9.13%. The company's revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.83 earnings per share. Equities research analysts predict that Newmont will post 2.61 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Thursday, September 8th will be given a $0.55 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 4.81%. Newmont's dividend payout ratio (DPR) is currently 222.22%.

Insiders Place Their Bets

In other news, CEO Thomas Ronald Palmer sold 11,000 shares of the business's stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $67.64, for a total transaction of $744,040.00. Following the completion of the sale, the chief executive officer now owns 276,949 shares of the company's stock, valued at $18,732,830.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Nancy Buese sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $61.50, for a total value of $615,000.00. Following the completion of the sale, the chief financial officer now owns 39,530 shares of the company's stock, valued at approximately $2,431,095. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 11,000 shares of the company's stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $67.64, for a total transaction of $744,040.00. Following the completion of the transaction, the chief executive officer now owns 276,949 shares in the company, valued at $18,732,830.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,000 shares of company stock worth $3,028,880. Company insiders own 0.11% of the company's stock.