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

Newmont Co. (NYSE:NEM - Get Free Report) has received an average recommendation of "Moderate Buy" from the nineteen analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, eight have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $53.16.

A number of research firms recently commented on NEM. TD Securities decreased their target price on Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a report on Wednesday, February 26th. Royal Bank of Canada lifted their price objective on shares of Newmont from $47.00 to $52.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 11th. National Bank Financial raised shares of Newmont to a "hold" rating in a report on Friday, March 21st. StockNews.com upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. Finally, Scotiabank cut their price target on Newmont from $52.00 to $50.00 and set a "sector perform" rating on the stock in a research report on Tuesday, January 21st.

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Newmont Stock Performance

Newmont stock traded up $0.20 during mid-day trading on Friday, reaching $48.28. 12,184,299 shares of the company traded hands, compared to its average volume of 9,709,137. The firm's fifty day moving average is $44.91 and its two-hundred day moving average is $45.39. The company has a market capitalization of $54.43 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. Newmont has a fifty-two week low of $36.10 and a fifty-two week 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 - 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, beating the consensus estimate of $1.11 by $0.29. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.32 billion. On average, equities 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 was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont's dividend payout ratio is currently 34.13%.

Insider Transactions at Newmont

In related news, COO Natascha Viljoen sold 9,000 shares of the business's 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. The trade was a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $131,130.00. Following the completion of the sale, the executive vice president now owns 86,526 shares in the company, valued at approximately $3,782,051.46. This represents a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,231 shares of company stock valued at $1,388,758. 0.05% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Newmont

Several hedge funds have recently added to or reduced their stakes in NEM. McIlrath & Eck LLC grew its position in shares of 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 buying an additional 361 shares during the last quarter. HHM Wealth Advisors LLC increased its position in shares of Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company's stock worth $33,000 after purchasing an additional 350 shares in the last quarter. Redwood Park Advisors LLC acquired a new stake in shares of Newmont during the fourth quarter worth about $37,000. Promus Capital LLC purchased a new stake in shares of Newmont in the 4th quarter valued at about $38,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Newmont in the 4th quarter valued at about $43,000. 68.85% of the stock is currently owned by hedge funds and other 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.