StockNews.com Upgrades Newmont (NYSE:NEM) to Buy

StockNews.com upgraded shares of Newmont (NYSE:NEM) from a hold rating to a buy rating in a research note released on Monday.

NEM has been the topic of several other research reports. Bernstein Bank upped their price target on shares of Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. CIBC downgraded shares of Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. The Goldman Sachs Group assumed 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. CLSA assumed coverage on shares of Newmont in a research report on Friday, November 29th. They set an “underperform” rating on the stock. Finally, Royal Bank of Canada upped their target price on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.16.

Newmont Stock Up 1.5 %

Shares of NYSE NEM opened at $43.55 on Monday. The firm’s 50-day simple moving average is $41.82 and its 200 day simple moving average is $46.37. The company has a market cap of $49.58 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 0.41 and a beta of 0.52. 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 12-month low of $29.42 and a 12-month high of $58.72.

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

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.30%. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Insider Activity

In related news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was 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 approximately $5,874,514.63. This represents a 6.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the sale, the director now directly owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,154 shares of company stock valued at $1,166,843 in the last ninety days. 0.06% of the stock is owned by insiders.

Institutional Trading of Newmont

Large investors have recently bought and sold shares of the business. Avior Wealth Management LLC increased its stake in Newmont by 191.8% during the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 326 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in Newmont during the 3rd quarter worth approximately $28,000. Highline Wealth Partners LLC bought a new stake in Newmont during the 3rd quarter worth approximately $32,000. HHM Wealth Advisors LLC boosted its position in Newmont by 66.0% during the 4th 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 during the last quarter. Finally, Redwood Park Advisors LLC acquired a new position in Newmont during the 4th quarter worth approximately $37,000. 68.85% of the stock is owned by institutional investors.

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.