Newmont (NEM) – Analysts’ Recent Ratings Updates

A number of research firms have changed their ratings and price targets for Newmont (NYSE: NEM):

  • 4/25/2022 – Newmont had its price target lowered by analysts at Raymond James from $92.00 to $88.00. They now have an “outperform” rating on the stock.
  • 4/25/2022 – Newmont was downgraded by analysts at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating. They now have a $57.00 price target on the stock.
  • 4/25/2022 – Newmont had its price target lowered by analysts at TD Securities from $82.00 to $79.00. They now have a “hold” rating on the stock.
  • 4/20/2022 – Newmont was downgraded by analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating. They now have a $94.28 price target on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 4/19/2022 – Newmont was downgraded by analysts at Credit Suisse Group AG from an “outperform” rating to a “neutral” rating.
  • 4/13/2022 – Newmont was given a new $82.00 price target on by analysts at Raymond James. They now have an “outperform” rating on the stock.
  • 4/6/2022 – Newmont had its price target raised by analysts at Raymond James from $72.00 to $82.00. They now have an “outperform” rating on the stock.
  • 3/31/2022 – Newmont is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
  • 3/9/2022 – Newmont had its price target raised by analysts at Jefferies Financial Group Inc. from $67.00 to $72.00. They now have a “hold” rating on the stock.
  • 3/1/2022 – Newmont had its price target raised by analysts at Fundamental Research from $61.10 to $73.44. They now have a “buy” rating on the stock. They wrote, “Fundamental Research Corp has issued a report entitled “Newmont vs Barrick – Which One Has Higher Upside Potential?” and dated February 25, 2022. The full report is now at www.researchfrc.com.”
  • 2/28/2022 – Newmont had its price target raised by analysts at Bank of America Co. from $70.00 to $75.00.
  • 2/25/2022 – Newmont had its price target raised by analysts at Raymond James from $68.00 to $72.00. They now have an “outperform” rating on the stock.

Shares of NYSE NEM opened at $72.61 on Tuesday. The firm has a market capitalization of $57.55 billion, a P/E ratio of 55.43 and a beta of 0.30. Newmont Co. has a one year low of $52.60 and a one year high of $86.37. The company’s fifty day moving average is $75.96 and its two-hundred day moving average is $64.73. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.55 and a current ratio of 2.90.

Newmont (NYSE:NEMGet Rating) last issued its earnings results on Friday, April 22nd. The basic materials company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.02). The company had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Newmont had a return on equity of 10.19% and a net margin of 9.54%. Newmont’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 earnings per share. On average, sell-side analysts forecast that Newmont Co. will post 3.47 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 16th. Shareholders of record on Thursday, June 2nd will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Wednesday, June 1st. This represents a $2.20 annualized dividend and a dividend yield of 3.03%. Newmont’s payout ratio is currently 167.94%.

In other news, COO Robert D. Atkinson sold 3,000 shares of Newmont stock in a transaction on Tuesday, February 1st. The stock was sold at an average price of $62.00, for a total transaction of $186,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 7,000 shares of the business’s stock in a transaction dated Tuesday, February 1st. The shares were sold at an average price of $62.00, for a total transaction of $434,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 66,343 shares of company stock worth $4,838,533 over the last 90 days. Insiders own 0.11% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in NEM. Vectors Research Management LLC purchased a new position in shares of Newmont during the 4th quarter worth about $25,000. Rational Advisors LLC increased its position in Newmont by 133.7% during the 4th quarter. Rational Advisors LLC now owns 416 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 238 shares in the last quarter. TFO TDC LLC acquired a new stake in Newmont during the 3rd quarter worth approximately $27,000. Avondale Wealth Management acquired a new stake in Newmont during the 4th quarter worth approximately $28,000. Finally, Clearstead Advisors LLC acquired a new stake in Newmont during the 3rd quarter worth approximately $29,000. Institutional investors own 76.72% of the company’s stock.

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.

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