Newmont Co. (NYSE:NEM) Receives $53.16 Consensus Target Price from Brokerages

Shares of Newmont Co. (NYSE:NEM) have been given an average rating of “Moderate Buy” by the eighteen ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $53.16.

Several analysts have issued reports on the stock. TD Securities decreased their price objective on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. CLSA initiated coverage on Newmont in a research note on Friday, November 29th. They set an “underperform” rating for the company. The Goldman Sachs Group began coverage on Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective on the stock. Royal Bank of Canada lifted their target price on Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. raised shares of Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th.

Newmont Stock Performance

NYSE:NEM opened at $43.88 on Monday. The firm has a market capitalization of $49.44 billion, a PE ratio of 14.98, a PEG ratio of 0.41 and a beta of 0.54. The stock’s fifty day moving average is $42.53 and its 200 day moving average is $45.99. Newmont has a fifty-two week low of $33.29 and a fifty-two week high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. On average, sell-side analysts anticipate that Newmont will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.28%. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the transaction, the executive vice president now owns 82,596 shares of the company’s stock, valued at $3,303,840. The trade was a 3.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the transaction, the director now owns 47,916 shares of the company’s stock, valued at approximately $2,094,408.36. This trade represents a 4.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 33,231 shares of company stock valued at $1,388,758. Corporate insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Newmont

Institutional investors and hedge funds have recently bought and sold shares of the company. Waverton Investment Management Ltd boosted its position in shares of Newmont by 14.0% in the 3rd quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock worth $28,379,000 after purchasing an additional 65,075 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in Newmont by 117.3% in the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after acquiring an additional 18,722 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Newmont by 173.0% during the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after acquiring an additional 1,578,545 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Newmont by 57.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock worth $88,580,000 after acquiring an additional 865,213 shares during the last quarter. Finally, Red Cedar Investment Management LLC acquired a new position in shares of Newmont during the third quarter valued at about $1,263,000. 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.