Newmont Co. (NYSE:NEM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Newmont Co. (NYSE:NEM) has been given an average rating of “Moderate Buy” by the seventeen brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, seven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $54.31.

A number of equities analysts recently commented on NEM shares. Royal Bank of Canada reduced their price target on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a report on Thursday, October 24th. Bernstein Bank lifted their target price on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $59.00 to $55.00 in a report on Friday, October 25th. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Finally, CLSA assumed coverage on Newmont in a research note on Friday. They issued an “underperform” rating for the company.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the transaction, the executive vice president now owns 94,596 shares in the company, valued at approximately $4,963,452.12. This trade represents a 3.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $1,049,400.00. Following the sale, the chief executive officer now owns 291,469 shares of the company’s stock, valued at approximately $15,293,378.43. This represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NEM. Maj Invest Holding A S lifted its stake in Newmont by 296.0% in the 2nd quarter. Maj Invest Holding A S now owns 3,427,313 shares of the basic materials company’s stock valued at $143,502,000 after purchasing an additional 2,561,823 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in shares of Newmont during the third quarter worth $98,011,000. Van ECK Associates Corp lifted its stake in shares of Newmont by 2.6% in the 2nd quarter. Van ECK Associates Corp now owns 50,918,066 shares of the basic materials company’s stock valued at $2,131,939,000 after acquiring an additional 1,289,084 shares during the last quarter. FMR LLC grew its position in Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after acquiring an additional 1,226,697 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Newmont by 262.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company’s stock worth $80,960,000 after acquiring an additional 1,096,905 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Down 0.2 %

NYSE:NEM opened at $41.96 on Friday. Newmont has a twelve month low of $29.42 and a twelve month high of $58.72. The firm has a market capitalization of $47.77 billion, a price-to-earnings ratio of -27.61, a price-to-earnings-growth ratio of 0.36 and a beta of 0.51. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The stock’s 50 day moving average price is $49.09 and its two-hundred day moving average price is $47.42.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The firm had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same period last year, the company posted $0.36 earnings per share. The business’s revenue was up 84.7% compared to the same quarter last year. Equities research analysts expect that Newmont will post 3.08 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s dividend payout ratio is currently -65.79%.

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.