Newmont (NYSE:NEM) Price Target Raised to $48.00 at TD Securities

Newmont (NYSE:NEM) had its price objective hoisted by TD Securities from $43.00 to $48.00 in a report published on Friday morning, Marketbeat.com reports. The firm currently has a hold rating on the basic materials company’s stock.

A number of other equities research analysts have also issued reports on the company. StockNews.com lowered Newmont from a hold rating to a sell rating in a research note on Monday, February 26th. Citigroup reduced their target price on Newmont from $60.00 to $45.00 and set a buy rating on the stock in a research note on Thursday, April 4th. National Bank Financial reaffirmed an outperform overweight rating on shares of Newmont in a research note on Monday, April 8th. Scotiabank reduced their target price on Newmont from $50.00 to $43.50 and set a sector perform rating on the stock in a research note on Wednesday, February 28th. Finally, Jefferies Financial Group began coverage on Newmont in a research note on Thursday, February 29th. They issued a buy rating and a $38.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $51.75.

Newmont Stock Performance

NEM opened at $42.73 on Friday. The stock has a market cap of $49.26 billion, a P/E ratio of -16.00, a P/E/G ratio of 1.11 and a beta of 0.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.15 and a quick ratio of 0.98. The stock’s 50 day simple moving average is $35.54 and its 200 day simple moving average is $36.95. Newmont has a 1-year low of $29.42 and a 1-year high of $50.18.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.66 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The company’s revenue was up 50.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 EPS. As a group, equities analysts anticipate that Newmont will post 2.16 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.34%. Newmont’s payout ratio is -37.45%.

Institutional Trading of Newmont

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Grey Street Capital LLC increased its holdings in shares of Newmont by 0.4% during the 4th quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock worth $2,892,000 after buying an additional 289 shares during the last quarter. Moody National Bank Trust Division increased its holdings in shares of Newmont by 1.7% during the 1st quarter. Moody National Bank Trust Division now owns 18,044 shares of the basic materials company’s stock worth $647,000 after buying an additional 296 shares during the last quarter. Reitz Capital Advisors LLC increased its holdings in Newmont by 1.1% in the 4th quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock valued at $1,166,000 after purchasing an additional 298 shares in the last quarter. Antonetti Capital Management LLC increased its holdings in Newmont by 30.0% in the 3rd quarter. Antonetti Capital Management LLC now owns 1,300 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 300 shares in the last quarter. Finally, Sigma Planning Corp increased its holdings in Newmont by 4.6% in the 3rd quarter. Sigma Planning Corp now owns 7,052 shares of the basic materials company’s stock valued at $261,000 after purchasing an additional 309 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

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.