Newmont Co. (NYSE:NEM) Given Average Rating of “Moderate Buy” by Analysts

Shares of Newmont Co. (NYSE:NEM) have been assigned an average rating of “Moderate Buy” from the eighteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $55.02.

A number of equities analysts have recently issued reports on NEM shares. StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. The Goldman Sachs Group started coverage on shares of Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 target price on the stock. Raymond James upped their price target on shares of Newmont from $54.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. BMO Capital Markets began coverage on shares of Newmont in a report on Wednesday, April 16th. They set an “outperform” rating and a $63.00 price objective on the stock. Finally, Scotiabank restated a “sector perform” rating on shares of Newmont in a report on Monday, April 14th.

Newmont Price Performance

Shares of Newmont stock opened at $55.25 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont has a 52 week low of $36.60 and a 52 week high of $58.72. The stock’s 50-day simple moving average is $47.31 and its 200-day simple moving average is $45.03. The company has a market capitalization of $62.28 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.29. The company had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. As a group, analysts expect that Newmont will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.81%. Newmont’s dividend payout ratio is currently 34.13%.

Insider Activity

In other news, COO Natascha Viljoen sold 9,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $386,010.00. Following the transaction, the chief operating officer now directly owns 136,967 shares of the company’s stock, valued at approximately $5,874,514.63. This trade represents a 6.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $131,130.00. Following the completion of the sale, the executive vice president now owns 86,526 shares of the company’s stock, valued at $3,782,051.46. This trade represents a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,154 shares of company stock worth $825,678 over the last three months. 0.05% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Newmont

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ipswich Investment Management Co. Inc. grew its stake in shares of Newmont by 1.4% in the 1st quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company’s stock valued at $689,000 after buying an additional 200 shares during the period. SOA Wealth Advisors LLC. grew its position in Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 201 shares during the period. HighPoint Advisor Group LLC increased its stake in Newmont by 3.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company’s stock worth $223,000 after acquiring an additional 219 shares during the last quarter. Rothschild Investment LLC raised its position in Newmont by 8.5% in the first quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company’s stock valued at $135,000 after purchasing an additional 219 shares during the period. Finally, Confluence Investment Management LLC lifted its stake in shares of Newmont by 2.4% in the 4th quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock valued at $439,000 after purchasing an additional 281 shares during the last quarter. 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.