Newmont (NYSE:NEM) Cut to “Sector Perform Overweight” at National Bank Financial

National Bank Financial lowered shares of Newmont (NYSE:NEM) from an outperform overweight rating to a sector perform overweight rating in a research report report published on Tuesday morning, Zacks.com reports.

Other analysts also recently issued reports about the company. Jefferies Financial Group assumed coverage on Newmont in a report on Thursday, February 29th. They issued a buy rating and a $38.00 price objective for the company. Scotiabank cut 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. BMO Capital Markets cut their target price on Newmont from $57.00 to $56.00 and set an outperform rating on the stock in a research note on Thursday, February 15th. StockNews.com upgraded Newmont from a sell rating to a hold rating in a research note on Friday, April 26th. Finally, Argus lowered Newmont from a buy rating to a hold rating in a research note on Monday, February 26th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $48.35.

Newmont Stock Performance

NEM stock opened at $41.05 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.15 and a quick ratio of 1.90. The business has a 50-day moving average price of $36.21 and a 200 day moving average price of $37.01. The company has a market capitalization of $47.34 billion, a P/E ratio of -15.37, a PEG ratio of 1.04 and a beta of 0.48. 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 data on Thursday, April 25th. The basic materials company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.20. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.66 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The firm’s quarterly revenue was up 50.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 earnings per share. As a group, equities research analysts forecast that Newmont will post 2.16 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 4th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Tuesday, June 4th. Newmont’s dividend payout ratio (DPR) is -37.45%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Mizuho Securities Co. Ltd. acquired a new position in Newmont in the third quarter valued at approximately $26,000. Life Planning Partners Inc acquired a new position in shares of Newmont during the 4th quarter worth approximately $26,000. Manchester Capital Management LLC raised its stake in shares of Newmont by 171.9% during the 4th quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock worth $26,000 after buying an additional 397 shares during the period. OFI Invest Asset Management acquired a new position in shares of Newmont during the 3rd quarter worth approximately $30,000. Finally, CVA Family Office LLC acquired a new position in shares of Newmont during the 4th quarter worth approximately $34,000. 68.85% of the stock is 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.