Newmont (NYSE:NEM) Trading 0.9% Higher

Newmont Co. (NYSE:NEM - Get Free Report) shot up 0.9% during mid-day trading on Tuesday . The stock traded as high as $49.23 and last traded at $49.23. 1,117,014 shares were traded during mid-day trading, a decline of 90% from the average session volume of 11,018,341 shares. The stock had previously closed at $48.79.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NEM. National Bank Financial lowered shares of Newmont from an "outperform overweight" rating to a "sector perform overweight" rating in a research note on Tuesday, April 30th. BMO Capital Markets increased their price target on shares of Newmont from $56.00 to $57.00 and gave the company an "outperform" rating in a research report on Thursday, July 25th. Cibc World Mkts upgraded shares of Newmont from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 10th. UBS Group upgraded shares of Newmont from a "neutral" rating to a "buy" rating and increased their price target for the company from $40.00 to $50.00 in a research report on Monday, June 17th. Finally, BNP Paribas upgraded shares of Newmont to a "strong-buy" rating in a research report on Friday, June 21st. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Newmont presently has an average rating of "Moderate Buy" and an average target price of $50.00.

Newmont Price Performance

The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $56.52 billion, a PE ratio of -18.44, a PEG ratio of 0.37 and a beta of 0.47. The company has a 50-day moving average of $44.62 and a 200 day moving average of $39.73.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.10. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. During the same quarter in the prior year, the company earned $0.33 EPS. Newmont's revenue was up 64.1% on a year-over-year basis. Sell-side analysts predict that Newmont Co. will post 2.76 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 5th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 2.04%. Newmont's dividend payout ratio is presently -37.45%.

Insider Buying and Selling

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $49.51, for a total value of $990,200.00. Following the completion of the sale, the chief executive officer now directly owns 311,469 shares of the company's stock, valued at approximately $15,420,830.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position in shares of Newmont by 68.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 385,889 shares of the basic materials company's stock worth $15,972,000 after purchasing an additional 156,188 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in shares of Newmont in the fourth quarter valued at $594,000. Cerity Partners LLC lifted its holdings in shares of Newmont by 230.0% in the fourth quarter. Cerity Partners LLC now owns 21,091 shares of the basic materials company's stock valued at $873,000 after purchasing an additional 14,700 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Newmont by 36.8% in the fourth quarter. Valeo Financial Advisors LLC now owns 11,848 shares of the basic materials company's stock valued at $490,000 after purchasing an additional 3,188 shares in the last quarter. Finally, Graypoint LLC purchased a new stake in shares of Newmont in the fourth quarter valued at $251,000. Institutional investors and hedge funds own 68.85% of the company's stock.

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.