National Bank Financial Cuts Newmont (NYSE:NEM) Price Target to $125.00

Newmont (NYSE:NEM) had its target price reduced by National Bank Financial from $140.00 to $125.00 in a report released on Tuesday morning,BayStreet.CA reports. They currently have a sector perform rating on the basic materials company’s stock.

Other equities research analysts have also issued research reports about the stock. TD Cowen reissued a “buy” rating on shares of Newmont in a report on Monday, April 27th. Argus boosted their target price on shares of Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Royal Bank Of Canada reduced their target price on shares of Newmont from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Weiss Ratings cut shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Finally, BMO Capital Markets lowered their price target on shares of Newmont from $145.00 to $135.00 and set an “outperform” rating for the company in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.26.

Newmont Price Performance

Shares of NEM stock opened at $90.83 on Tuesday. The stock’s fifty day moving average is $102.85 and its 200-day moving average is $110.35. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The stock has a market capitalization of $96.96 billion, a PE ratio of 11.78, a PEG ratio of 1.08 and a beta of 0.46. Newmont has a 52 week low of $56.73 and a 52 week high of $134.88.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same period last year, the company posted $1.25 earnings per share. The firm’s quarterly revenue was up 45.8% compared to the same quarter last year. Equities research analysts expect that Newmont will post 9.32 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Wednesday, May 27th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is presently 13.49%.

Insider Transactions at Newmont

In other news, CEO Natascha Viljoen sold 3,882 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $408,852.24. Following the transaction, the chief executive officer owned 142,999 shares of the company’s stock, valued at approximately $15,060,654.68. This trade represents a 2.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $92.38, for a total transaction of $277,140.00. Following the sale, the executive vice president owned 43,315 shares of the company’s stock, valued at approximately $4,001,439.70. This represents a 6.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 28,556 shares of company stock valued at $3,058,146. 0.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On Newmont

Several large investors have recently bought and sold shares of NEM. CWM LLC grew its position in shares of Newmont by 64.6% during the 4th quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock worth $20,259,000 after buying an additional 79,617 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Newmont by 24.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock valued at $30,775,000 after acquiring an additional 54,530 shares during the period. Leonteq Securities AG acquired a new stake in shares of Newmont in the 4th quarter valued at approximately $9,018,000. ARS Investment Partners LLC boosted its stake in Newmont by 3.6% during the 4th quarter. ARS Investment Partners LLC now owns 697,063 shares of the basic materials company’s stock worth $69,602,000 after acquiring an additional 23,900 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its stake in Newmont by 67.0% during the 4th quarter. Ritholtz Wealth Management now owns 40,754 shares of the basic materials company’s stock worth $4,069,000 after acquiring an additional 16,352 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Newmont

Here are the key news stories impacting Newmont this week:

• Negative Sentiment: Zacks Research downgraded Newmont from “strong-buy” to “hold,” adding to near-term pressure on the stock. Newmont was downgraded by Zacks Research from “strong-buy” to “hold”.
• Negative Sentiment: Investors are also worried about the upcoming quarterly report, as coverage notes Newmont may not have the setup for an earnings beat even though EPS is expected to grow. Newmont Corporation (NEM) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Neutral Sentiment: Newmont resumed operations at its Cadia mine after a seismic event, and management said inspections found no injuries or damage. That removes an operational overhang, but the company still faces higher costs and softer gold prices. Newmont (NEM) Resumes Cadia Operations As It Pushes Ahead With Key Growth Projects
• Positive Sentiment: Several analysts remain constructive, with reports pointing to improved operational efficiency, growing free cash flow, and share buybacks as Newmont works through Newcrest integration. Did Analyst Upgrades and Buybacks Just Shift Newmont’s (NEM) Operational Efficiency Investment Narrative?
• Positive Sentiment: Some analysts also argued Newmont looks undervalued, citing permits that could unlock major copper-gold resources and support a production rebound. Newmont: The Permits That Set The Stage For A Re-Rating

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.