Newmont Co. (NYSE:NEM) Given Consensus Rating of "Moderate Buy" by Brokerages

Newmont Co. (NYSE:NEM - Get Free Report) has earned an average recommendation of "Moderate Buy" from the eighteen research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $55.02.

A number of research analysts recently issued reports on NEM shares. 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 report on Friday, April 4th. BMO Capital Markets started coverage on shares of Newmont in a research report on Wednesday, April 16th. They set an "outperform" rating and a $63.00 target price on the stock. UBS Group raised shares of Newmont from a "neutral" rating to a "buy" rating and raised their price target for the company from $50.00 to $60.00 in a report on Friday, April 11th. TD Securities reduced their price objective on Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a report on Wednesday, February 26th. Finally, StockNews.com raised Newmont from a "hold" rating to a "buy" rating in a research note on Monday, February 24th.

Insider Buying and Selling at Newmont

In related news, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $89,082.53. Following the completion of the transaction, the director now directly owns 49,993 shares in the company, valued at approximately $2,144,199.77. The trade was a 3.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 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 value of $128,670.00. Following the sale, the executive vice president now directly owns 79,596 shares of the company's stock, valued at approximately $3,413,872.44. The trade was a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,154 shares of company stock valued at $825,678. Corporate insiders own 0.05% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NEM. SOA Wealth Advisors LLC. boosted its stake in Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock worth $25,000 after purchasing an additional 201 shares during the period. Nexus Investment Management ULC acquired a new position in shares of Newmont during the first quarter worth about $31,000. Alpine Bank Wealth Management bought a new position in shares of Newmont during the first quarter worth about $32,000. PSI Advisors LLC raised its position in Newmont by 195.5% in the 1st quarter. PSI Advisors LLC now owns 795 shares of the basic materials company's stock valued at $38,000 after buying an additional 526 shares during the last quarter. Finally, McIlrath & Eck LLC lifted its stake in Newmont by 80.6% in the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company's stock valued at $43,000 after acquiring an additional 361 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Price Performance

Newmont stock traded down $1.44 during trading hours on Tuesday, hitting $53.10. 20,955,980 shares of the stock were exchanged, compared to its average volume of 9,970,193. Newmont has a 12 month low of $36.60 and a 12 month high of $58.72. The business's 50-day moving average is $47.45 and its two-hundred day moving average is $45.10. 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 stock has a market capitalization of $59.86 billion, a P/E ratio of 18.12, a P/E/G ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.54. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Equities research analysts expect that Newmont will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.88%. The ex-dividend date was Tuesday, March 4th. Newmont's payout ratio is 34.13%.

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.