Newmont Corporation (NYSE:NEM) Receives Average Rating of “Buy” from Analysts

Shares of Newmont Corporation (NYSE:NEM) have earned a consensus rating of “Buy” from the twenty-two ratings firms that are presently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and five have issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $96.3706.

A number of brokerages have recently commented on NEM. Macquarie raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 5th. The Goldman Sachs Group set a $104.30 price objective on Newmont and gave the stock a “buy” rating in a report on Sunday, October 12th. Raymond James Financial set a $99.00 target price on Newmont and gave the company an “outperform” rating in a research report on Friday, October 24th. CIBC set a $112.00 target price on Newmont and gave the stock an “outperformer” rating in a report on Friday, October 10th. Finally, UBS Group raised their price target on Newmont from $105.50 to $125.00 and gave the company a “buy” rating in a research note on Monday, December 1st.

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the transaction, the director directly owned 32,709 shares in the company, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the transaction, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at $22,768,936.82. This trade represents a 1.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,240 shares of company stock valued at $943,985 in the last ninety days. Corporate insiders own 0.05% of the company’s stock.

Hedge Funds Weigh In On Newmont

Institutional investors and hedge funds have recently bought and sold shares of the company. Triumph Capital Management purchased a new stake in shares of Newmont during the 3rd quarter valued at $128,000. Sherman Porfolios LLC acquired a new position in Newmont during the 3rd quarter valued at about $971,000. AIA Group Ltd raised its stake in Newmont by 38.7% in the third quarter. AIA Group Ltd now owns 114,828 shares of the basic materials company’s stock valued at $9,681,000 after buying an additional 32,050 shares during the last quarter. Keel Point LLC boosted its holdings in Newmont by 4.0% in the third quarter. Keel Point LLC now owns 14,138 shares of the basic materials company’s stock worth $1,192,000 after acquiring an additional 548 shares in the last quarter. Finally, Mirabella Financial Services LLP purchased a new stake in shares of Newmont during the third quarter worth about $1,291,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Up 1.0%

NYSE:NEM opened at $105.79 on Friday. The company has a market cap of $115.44 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 0.74 and a beta of 0.41. Newmont has a twelve month low of $36.86 and a twelve month high of $106.34. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. The stock has a fifty day simple moving average of $90.38 and a 200-day simple moving average of $77.49.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.27 by $0.44. The company had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The firm’s revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.81 EPS. Analysts anticipate that Newmont will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th were issued a $0.25 dividend. The ex-dividend date was Wednesday, November 26th. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. Newmont’s payout ratio is currently 15.53%.

About Newmont

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.