Newmont (NYSE:NEM) Shares Down 1.6% – Here’s What Happened

Newmont Co. (NYSE:NEM) shares traded down 1.6% on Friday . The company traded as low as $54.77 and last traded at $55.08. 14,364,376 shares were traded during mid-day trading, an increase of 46% from the average session volume of 9,867,103 shares. The stock had previously closed at $55.95.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NEM shares. Scotiabank reissued a “sector perform” rating on shares of Newmont in a report on Monday, April 14th. The Goldman Sachs Group assumed coverage on Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 target price for the company. UBS Group raised shares of Newmont from a “neutral” rating to a “buy” rating and upped their price target for the stock from $50.00 to $60.00 in a research note on Friday, April 11th. BMO Capital Markets started coverage on shares of Newmont in a report on Wednesday. They set an “outperform” rating and a $63.00 price objective on the stock. Finally, National Bank Financial raised shares of Newmont to a “hold” rating in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of $55.02.

Newmont Stock Down 1.6 %

The stock has a market cap of $62.08 billion, a price-to-earnings ratio of 18.80, a P/E/G ratio of 0.41 and a beta of 0.54. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The firm’s 50 day moving average is $47.14 and its two-hundred day moving average is $45.07.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $5.32 billion. On average, sell-side analysts predict that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont’s dividend payout ratio is currently 34.13%.

Insider Activity at Newmont

In other news, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $386,010.00. Following the completion of the sale, the chief operating officer now directly owns 136,967 shares of the company’s stock, valued at $5,874,514.63. The trade was a 6.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $90,785.67. Following the completion of the transaction, the director now directly owns 47,916 shares in the company, valued at $2,094,408.36. This trade represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,154 shares of company stock worth $825,678. 0.05% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Newmont

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. increased its position in Newmont by 64.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 201 shares in the last quarter. Nexus Investment Management ULC purchased a new stake in Newmont during the first quarter worth approximately $31,000. HHM Wealth Advisors LLC increased its position in shares of Newmont by 66.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 350 shares in the last quarter. Redwood Park Advisors LLC purchased a new position in shares of Newmont in the 4th quarter valued at $37,000. Finally, Promus Capital LLC acquired a new position in shares of Newmont during the 4th quarter valued at $38,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

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.