Newmont (NYSE:NEM) Shares Down 1.6% - What's Next?

Newmont Co. (NYSE:NEM - Get Free Report)'s stock price fell 1.6% on Friday . The company traded as low as $54.77 and last traded at $55.08. 14,364,376 shares traded hands during trading, an increase of 46% from the average session volume of 9,867,103 shares. The stock had previously closed at $55.95.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NEM shares. Scotiabank reaffirmed a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. National Bank Financial raised Newmont to a "hold" rating in a report on Friday, March 21st. TD Securities reduced 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. StockNews.com upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. Finally, Raymond James increased their target price on shares of Newmont from $54.00 to $63.00 and gave the stock an "outperform" rating in a research note on Friday, April 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Newmont currently has an average rating of "Moderate Buy" and a consensus price target of $55.02.

Newmont Price Performance

The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The business's 50-day simple moving average is $47.14 and its 200-day simple moving average is $45.02. The stock has a market cap of $62.08 billion, a PE ratio of 18.80, a PEG ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.29. The business had revenue of $5.65 billion during 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%. On average, research analysts expect that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 4th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont's dividend payout ratio (DPR) is currently 34.13%.

Insiders Place Their Bets

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the company'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 transaction of $386,010.00. Following the transaction, the chief operating officer now owns 136,967 shares in the company, valued at approximately $5,874,514.63. This represents a 6.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the firm's 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 $89,082.53. Following the completion of the transaction, the director now owns 49,993 shares of the company's stock, valued at approximately $2,144,199.77. The trade was a 3.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,154 shares of company stock worth $825,678. 0.05% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NEM. Van ECK Associates Corp lifted its holdings in shares of Newmont by 1.6% during the fourth quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company's stock valued at $1,851,606,000 after purchasing an additional 797,445 shares during the last quarter. Geode Capital Management LLC raised its stake in Newmont by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock valued at $919,484,000 after buying an additional 1,213,397 shares during the last quarter. Norges Bank bought a new stake in Newmont in the fourth quarter worth $626,074,000. Northern Trust Corp grew its stake in shares of Newmont by 11.5% in the fourth quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock worth $474,263,000 after acquiring an additional 1,309,177 shares during the last quarter. Finally, Amundi increased its holdings in shares of Newmont by 14.0% during the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock valued at $481,400,000 after acquiring an additional 1,507,708 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

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.