Newmont (NYSE:NEM) Trading Up 1.7%

Newmont Co. (NYSE:NEMGet Rating) shares were up 1.7% on Friday . The company traded as high as $43.19 and last traded at $43.11. Approximately 107,399 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 8,730,778 shares. The stock had previously closed at $42.40.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on NEM shares. Raymond James dropped their price target on Newmont from $71.00 to $69.00 and set an “outperform” rating on the stock in a research note on Friday. National Bank Financial raised Newmont from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, July 27th. The Goldman Sachs Group assumed coverage on Newmont in a research note on Monday, September 12th. They issued a “buy” rating and a $53.00 price target on the stock. Fundamental Research lowered their target price on Newmont from $79.52 to $63.91 and set a “buy” rating on the stock in a research note on Tuesday, August 9th. Finally, Canaccord Genuity Group raised Newmont from a “hold” rating to a “buy” rating and lowered their target price for the company from $66.00 to $60.00 in a research note on Wednesday, July 27th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $66.94.

Newmont Trading Up 3.1 %

The firm has a market cap of $34.69 billion, a P/E ratio of 44.15 and a beta of 0.29. The company has a 50 day moving average of $46.24 and a 200 day moving average of $62.66. 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:NEMGet Rating) last announced its quarterly earnings results on Monday, July 25th. The basic materials company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.14). Newmont had a net margin of 6.40% and a return on equity of 9.13%. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the previous year, the firm posted $0.83 EPS. The company’s quarterly revenue was down .2% compared to the same quarter last year. Analysts predict that Newmont Co. will post 2.61 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 22nd. Investors of record on Thursday, September 8th will be issued a $0.55 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $2.20 annualized dividend and a yield of 5.03%. Newmont’s dividend payout ratio (DPR) is currently 222.22%.

Insider Buying and Selling

In related news, CEO Thomas Ronald Palmer sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $45.35, for a total value of $498,850.00. Following the completion of the sale, the chief executive officer now directly owns 254,949 shares in the company, valued at approximately $11,561,937.15. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Thomas Ronald Palmer sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $45.35, for a total transaction of $498,850.00. Following the completion of the transaction, the chief executive officer now directly owns 254,949 shares in the company, valued at $11,561,937.15. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Nancy Buese sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $61.50, for a total value of $615,000.00. Following the transaction, the chief financial officer now owns 39,530 shares of the company’s stock, valued at $2,431,095. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,000 shares of company stock worth $2,081,920. 0.11% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Lloyd Advisory Services LLC. acquired a new position in shares of Newmont during the first quarter worth approximately $28,000. Central Bank & Trust Co. acquired a new position in shares of Newmont during the first quarter worth approximately $29,000. Pacific Center for Financial Services acquired a new position in shares of Newmont during the first quarter worth approximately $30,000. Vectors Research Management LLC acquired a new position in shares of Newmont during the fourth quarter worth approximately $25,000. Finally, Riverview Trust Co acquired a new position in shares of Newmont in the first quarter valued at $38,000. 81.11% of the stock is currently owned by institutional investors and hedge funds.

Newmont Company Profile

(Get Rating)

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.

Further Reading

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