Newmont (NYSE:NEM) Trading Down 0% - What's Next?

Newmont Co. (NYSE:NEM - Get Free Report) shares traded down 0% on Monday . The stock traded as low as $55.21 and last traded at $55.07. 5,364,560 shares were traded during mid-day trading, a decline of 54% from the average session volume of 11,565,204 shares. The stock had previously closed at $55.08.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NEM. BMO Capital Markets began coverage on shares of Newmont in a research note on Wednesday, April 16th. They set an "outperform" rating and a $63.00 price target on the stock. Scotiabank reiterated a "sector perform" rating on shares of Newmont in a research note on Monday, April 14th. UBS Group upgraded Newmont from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $50.00 to $60.00 in a report on Friday, April 11th. Raymond James raised their price target on shares of Newmont from $54.00 to $63.00 and gave the stock an "outperform" rating in a research report on Friday, April 4th. Finally, TD Securities reduced their price target on shares of Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $55.02.

Newmont Stock Up 2.3 %

The business has a 50 day simple moving average of $47.58 and a 200 day simple moving average of $45.15. 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 stock has a market cap of $61.31 billion, a PE ratio of 18.59, a P/E/G ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.54. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The firm had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. On average, equities research analysts forecast that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company 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. This represents a $1.00 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont's payout ratio is presently 34.13%.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 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 $128,670.00. Following the transaction, the executive vice president now directly owns 79,596 shares of the company's stock, valued at approximately $3,413,872.44. This trade represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $386,010.00. Following the completion of the transaction, the chief operating officer now directly owns 136,967 shares in the company, valued at approximately $5,874,514.63. This trade represents a 6.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,154 shares of company stock worth $825,678. Company insiders own 0.05% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp raised its position in Newmont by 1.6% in the 4th 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 buying an additional 797,445 shares during the last quarter. Geode Capital Management LLC boosted its holdings 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 worth $919,484,000 after purchasing an additional 1,213,397 shares during the last quarter. Norges Bank acquired a new stake in Newmont in the 4th quarter valued at $626,074,000. Northern Trust Corp increased its stake in Newmont by 11.5% in the 4th quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock valued at $474,263,000 after buying an additional 1,309,177 shares during the last quarter. Finally, Amundi lifted its position in Newmont by 14.0% during the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock worth $481,400,000 after buying an additional 1,507,708 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

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.