BMO Capital Markets Begins Coverage on Newmont (NYSE:NEM)

BMO Capital Markets began coverage on shares of Newmont (NYSE:NEM - Free Report) in a research report report published on Wednesday, Marketbeat.com reports. The firm issued an outperform rating and a $63.00 price target on the basic materials company's stock.

Other equities analysts also recently issued research reports about the stock. TD Securities dropped their price objective on shares of Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a research note on Wednesday, February 26th. Raymond James increased their target price on shares of Newmont from $54.00 to $63.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. StockNews.com raised Newmont from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. The Goldman Sachs Group assumed coverage on shares of Newmont in a report on Monday, January 13th. They set a "buy" rating and a $47.20 price objective on the stock. Finally, Royal Bank of Canada lifted their price target on Newmont from $51.00 to $52.00 and gave the company a "sector perform" rating in a research note on Friday, April 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Newmont presently has an average rating of "Moderate Buy" and a consensus target price of $55.02.

Newmont Stock Performance

NYSE:NEM traded down $0.87 during mid-day trading on Wednesday, reaching $55.08. 14,364,376 shares of the company's stock were exchanged, compared to its average volume of 9,880,865. The firm has a market capitalization of $62.08 billion, a PE ratio of 18.80, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. Newmont has a one year low of $36.60 and a one year high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The business's fifty day simple moving average is $46.95 and its two-hundred day simple moving average is $45.13.

Newmont (NYSE:NEM - Get Free Report) last released its 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 company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Analysts anticipate that Newmont will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were paid a $0.25 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.82%. Newmont's payout ratio is 34.13%.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $89,082.53. Following the sale, the director now directly owns 49,993 shares of the company's stock, valued at $2,144,199.77. This trade represents a 3.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $386,010.00. Following the transaction, the chief operating officer now owns 136,967 shares in the company, valued at $5,874,514.63. This trade represents a 6.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,154 shares of company stock valued at $825,678 over the last quarter. 0.05% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Newmont

Several institutional investors and hedge funds have recently bought and sold shares of the company. Clarius Group LLC raised its stake in shares of Newmont by 7.0% in the first quarter. Clarius Group LLC now owns 7,478 shares of the basic materials company's stock valued at $361,000 after acquiring an additional 488 shares in the last quarter. Rakuten Securities Inc. increased its stake in Newmont by 255.7% in the 1st quarter. Rakuten Securities Inc. now owns 20,559 shares of the basic materials company's stock valued at $993,000 after buying an additional 14,779 shares during the period. Bfsg LLC boosted its holdings in Newmont by 39.8% in the 1st quarter. Bfsg LLC now owns 249,580 shares of the basic materials company's stock valued at $12,050,000 after purchasing an additional 71,014 shares in the last quarter. Lesa Sroufe & Co acquired a new stake in Newmont in the first quarter valued at $3,826,000. Finally, Robertson Stephens Wealth Management LLC increased its holdings in Newmont by 1.8% in the first quarter. Robertson Stephens Wealth Management LLC now owns 23,351 shares of the basic materials company's stock valued at $1,127,000 after buying an additional 409 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

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.