Newmont Corporation (NYSE:NEM) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Newmont Corporation (NYSE:NEM) have been given a consensus rating of “Moderate Buy” by the twenty-two analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, nine have issued a buy recommendation and four have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $70.5929.

A number of research firms recently issued reports on NEM. UBS Group upped their target price on Newmont from $60.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, July 3rd. BNP Paribas lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 4th. Stifel Canada raised Newmont to a “strong-buy” rating in a research note on Tuesday, July 8th. CIBC boosted their price target on Newmont from $74.00 to $78.00 and gave the company a “neutral” rating in a report on Friday, September 12th. Finally, BNP Paribas Exane boosted their price target on Newmont from $66.00 to $92.00 and gave the company an “outperform” rating in a report on Monday.

Newmont Price Performance

NEM stock opened at $78.29 on Friday. Newmont has a 1 year low of $36.86 and a 1 year high of $80.07. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. The stock’s 50 day moving average price is $69.04 and its 200 day moving average price is $58.05. The firm has a market cap of $86.00 billion, a P/E ratio of 14.06, a PEG ratio of 0.92 and a beta of 0.34.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the prior year, the company earned $0.72 EPS. Newmont’s revenue was up 20.8% on a year-over-year basis. On average, sell-side analysts expect that Newmont will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Thursday, September 4th will be issued a $0.25 dividend. The ex-dividend date is Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.3%. Newmont’s payout ratio is 17.95%.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $74.59, for a total value of $154,923.43. Following the completion of the transaction, the director directly owned 38,949 shares in the company, valued at approximately $2,905,205.91. The trade was a 5.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the completion of the transaction, the executive vice president owned 58,736 shares of the company’s stock, valued at $3,739,133.76. This trade represents a 4.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,246 shares of company stock worth $1,253,559. Insiders own 0.05% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NEM. Bessemer Group Inc. increased its holdings in shares of Newmont by 13.2% during the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company’s stock worth $569,000 after buying an additional 1,379 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Newmont during the 1st quarter worth $423,000. Spire Wealth Management increased its holdings in shares of Newmont by 125.0% during the 1st quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company’s stock worth $114,000 after buying an additional 1,309 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of Newmont during the 1st quarter worth $202,000. Finally, Bayforest Capital Ltd increased its holdings in shares of Newmont by 269.4% during the 1st quarter. Bayforest Capital Ltd now owns 8,829 shares of the basic materials company’s stock worth $426,000 after buying an additional 6,439 shares during the last quarter. 68.85% of the stock is currently 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.