Newmont (NYSE:NEM) Shares Up 3.1% Following Better-Than-Expected Earnings

Shares of Newmont Co. (NYSE:NEM - Get Free Report) were up 3.1% during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $55.40 and last traded at $54.81. Approximately 5,260,103 shares traded hands during trading, a decline of 47% from the average daily volume of 9,943,889 shares. The stock had previously closed at $53.15.

The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.82 billion.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.83%. Newmont's dividend payout ratio (DPR) is currently 34.13%.

Analyst Ratings Changes

Several equities analysts recently weighed in on NEM shares. Scotiabank reiterated a "sector perform" rating on shares of Newmont in a report on Monday, April 14th. StockNews.com raised shares of Newmont from a "hold" rating to a "buy" rating in a report on Monday, February 24th. TD Securities decreased their target price on shares of Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a research report on Wednesday, February 26th. The Goldman Sachs Group assumed coverage on shares of Newmont in a research report on Monday, January 13th. They set a "buy" rating and a $47.20 target price for the company. Finally, UBS Group upgraded shares of Newmont from a "neutral" rating to a "buy" rating and boosted their target price for the company from $50.00 to $60.00 in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $55.02.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the transaction, the director now directly owns 47,916 shares of the company's stock, valued at $2,094,408.36. The trade was a 4.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $386,010.00. Following the transaction, the chief operating officer now directly owns 136,967 shares of the company's stock, valued at $5,874,514.63. The trade was a 6.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,154 shares of company stock valued at $825,678 in the last three months. 0.05% of the stock is owned by corporate insiders.

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 position in shares of Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 201 shares during the period. Nexus Investment Management ULC acquired a new stake in shares of Newmont in the 1st quarter valued at about $31,000. Alpine Bank Wealth Management acquired a new stake in shares of Newmont in the 1st quarter valued at about $32,000. PSI Advisors LLC boosted its position in shares of 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 purchasing an additional 526 shares during the period. Finally, McIlrath & Eck LLC boosted 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 purchasing an additional 361 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Up 2.7 %

The business has a 50-day simple moving average of $47.58 and a two-hundred day simple moving average of $45.15. 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 company has a market capitalization of $61.52 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 0.41 and a beta of 0.54.

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.

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