Newmont (NYSE:NEM) Stock Price Crosses Below Two Hundred Day Moving Average - Time to Sell?

Newmont Co. (NYSE:NEM - Get Free Report) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $47.07 and traded as low as $36.86. Newmont shares last traded at $37.22, with a volume of 9,341,507 shares trading hands.

Analyst Ratings Changes

NEM has been the subject of a number of research reports. Cibc World Mkts lowered shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 28th. Bernstein Bank boosted their target price on Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. UBS Group downgraded Newmont from a "buy" rating to a "neutral" rating and cut their price target for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. CIBC cut Newmont from a "sector outperform" rating to a "neutral" rating in a research note on Monday, October 28th. Finally, Jefferies Financial Group raised their price objective 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. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $54.31.

Newmont Price Performance

The company's fifty day simple moving average is $41.76 and its 200-day simple moving average is $47.01. The stock has a market cap of $43.68 billion, a P/E ratio of -25.24, a price-to-earnings-growth ratio of 0.35 and a beta of 0.49. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (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 business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same period last year, the company earned $0.36 EPS. The business's revenue for the quarter was up 84.7% on a year-over-year basis. As a group, sell-side analysts forecast that Newmont Co. will post 3.08 EPS for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Wednesday, November 27th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Wednesday, November 27th. Newmont's dividend payout ratio is -65.79%.

Insiders Place Their Bets

In other Newmont news, Director Harry M. Iv Conger purchased 9,498 shares of the business's stock in a transaction that occurred on Wednesday, November 27th. The stock was acquired at an average cost of $42.15 per share, with a total value of $400,340.70. Following the completion of the acquisition, the director now directly owns 14,498 shares of the company's stock, valued at $611,090.70. This represents a 189.96 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.06% of the company's stock.

Institutional Investors Weigh In On Newmont

A number of hedge funds have recently added to or reduced their stakes in the stock. Strategic Financial Concepts LLC bought a new stake in shares of Newmont during the second quarter valued at approximately $25,000. Meeder Asset Management Inc. bought a new position in Newmont in the 2nd quarter valued at $27,000. Hoese & Co LLP bought a new stake in shares of Newmont during the third quarter worth $27,000. Avior Wealth Management LLC lifted its stake in shares of Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock valued at $27,000 after acquiring an additional 326 shares during the period. Finally, Prospera Private Wealth LLC bought a new position in Newmont in the third quarter valued at about $28,000. Institutional investors own 68.85% of the company's stock.

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.