Newmont Co. (NYSE:NEM) Given Average Rating of "Moderate Buy" by Analysts

Newmont Co. (NYSE:NEM - Get Free Report) has been given an average rating of "Moderate Buy" by the seventeen analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $54.31.

NEM has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised shares of Newmont from a "neutral" rating to an "overweight" rating in a research note on Tuesday, November 19th. Jefferies Financial Group boosted their price target on shares of Newmont from $54.00 to $63.00 and gave the company a "buy" rating in a research report on Friday, October 4th. Raymond James lowered their price objective on Newmont from $62.00 to $59.00 and set an "outperform" rating on the stock in a research report on Monday, November 25th. Cibc World Mkts cut Newmont from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 28th. Finally, UBS Group cut Newmont from a "buy" rating to a "neutral" rating and lowered their price target for the company from $67.00 to $54.00 in a report on Wednesday, October 30th.

Newmont Stock Performance

Shares of Newmont stock traded down $0.04 during trading hours on Friday, reaching $39.09. The company had a trading volume of 10,010,328 shares, compared to its average volume of 8,066,489. The firm has a market cap of $44.50 billion, a PE ratio of -25.72, a price-to-earnings-growth ratio of 0.35 and a beta of 0.50. Newmont has a one year low of $29.42 and a one year 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. The business has a fifty day simple moving average of $40.74 and a 200 day simple moving average of $46.93.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results 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 positive return on equity of 9.80% and a negative net margin of 7.03%. The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the prior year, the business earned $0.36 EPS. The firm's revenue for the quarter was up 84.7% compared to the same quarter last year. On average, analysts anticipate that Newmont will post 3.08 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, November 27th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date was Wednesday, November 27th. Newmont's payout ratio is presently -65.79%.

Insiders Place Their Bets

In other news, Director Harry M. Iv Conger bought 9,498 shares of the company's stock in a transaction dated Wednesday, November 27th. The stock was bought at an average cost of $42.15 per share, for a total transaction of $400,340.70. Following the completion of the acquisition, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. This trade represents a 189.96 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.06% of the stock is currently owned by insiders.

Institutional Trading of Newmont

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEM. Zurich Insurance Group Ltd FI purchased a new stake in shares of Newmont in the 3rd quarter worth about $98,011,000. Nordea Investment Management AB lifted its holdings in Newmont by 173.0% in the fourth quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company's stock worth $92,832,000 after buying an additional 1,578,545 shares during the period. FMR LLC boosted its position in Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company's stock valued at $376,953,000 after acquiring an additional 1,226,697 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Newmont by 262.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,514,688 shares of the basic materials company's stock worth $80,960,000 after acquiring an additional 1,096,905 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Newmont by 29.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,728,350 shares of the basic materials company's stock worth $197,976,000 after acquiring an additional 1,074,623 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

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.