Newmont Co. (NYSE:NEM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Newmont Co. (NYSE:NEM) have been assigned an average recommendation of “Moderate Buy” from the eighteen brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, eight have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $53.80.

NEM has been the subject of several research reports. CLSA started coverage on shares of Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. The Goldman Sachs Group began coverage on Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 target price for the company. Veritas raised Newmont to a “strong-buy” rating in a research report on Monday, September 30th. Royal Bank of Canada lowered their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research report on Thursday, October 24th. Finally, UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and reduced their target price for the company from $67.00 to $54.00 in a report on Wednesday, October 30th.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the sale, the executive vice president now owns 82,596 shares in the company, valued at $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Natascha Viljoen sold 9,000 shares of Newmont stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now owns 145,967 shares in the company, valued at approximately $5,838,680. This trade represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,077 shares of company stock worth $563,080. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Newmont

Hedge funds have recently made changes to their positions in the company. Avior Wealth Management LLC raised its holdings in Newmont by 191.8% during the third 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. Hoese & Co LLP purchased a new position in shares of Newmont during the 3rd quarter worth approximately $27,000. Prospera Private Wealth LLC purchased a new position in shares of Newmont during the 3rd quarter worth approximately $28,000. Highline Wealth Partners LLC acquired a new stake in shares of Newmont in the 3rd quarter valued at approximately $32,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Newmont in the second quarter valued at approximately $27,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Performance

NEM opened at $41.72 on Friday. The stock’s 50-day moving average price is $40.29 and its 200 day moving average price is $46.83. Newmont has a 12-month low of $29.42 and a 12-month high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The business had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same period in the previous year, the business posted $0.36 EPS. The company’s revenue for the quarter was up 84.7% compared to the same quarter last year. As a group, research analysts expect that Newmont will post 3.12 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend was Wednesday, November 27th. Newmont’s payout ratio is -65.79%.

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.