Newmont (NYSE:NEM) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Newmont (NYSE:NEM - Free Report) had its target price increased by Royal Bank of Canada from $51.00 to $52.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a sector perform rating on the basic materials company's stock.

Other equities analysts have also recently issued reports about the company. The Goldman Sachs Group initiated coverage on Newmont in a research report on Monday, January 13th. They issued a "buy" rating and a $47.20 price target for the company. 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. Scotiabank decreased their price target on Newmont from $52.00 to $50.00 and set a "sector perform" rating on the stock in a research report on Tuesday, January 21st. National Bank Financial upgraded shares of Newmont to a "hold" rating in a research report on Friday, March 21st. Finally, StockNews.com upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.09.

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Newmont Stock Down 8.4 %

Newmont stock traded down $4.08 during midday trading on Friday, hitting $44.25. 21,146,797 shares of the stock were exchanged, compared to its average volume of 9,653,406. Newmont has a 52-week low of $36.60 and a 52-week high of $58.72. The business's 50-day moving average price is $45.34 and its 200-day moving average price is $45.28. 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 stock has a market capitalization of $49.88 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM - Get Free Report) last issued 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. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. On average, research analysts expect that Newmont 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 paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Tuesday, March 4th. Newmont's dividend payout ratio (DPR) is 34.13%.

Insider Transactions at Newmont

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the company's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the transaction, the chief operating officer now directly owns 145,967 shares in the company, valued at approximately $5,838,680. This represents a 5.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $131,130.00. Following the completion of the sale, the executive vice president now directly owns 86,526 shares of the company's stock, valued at approximately $3,782,051.46. This represents a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,231 shares of company stock worth $1,388,758. Company insiders own 0.05% of the company's stock.

Institutional Trading of Newmont

Several institutional investors and hedge funds have recently bought and sold shares of NEM. Van ECK Associates Corp lifted its stake in shares of 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 purchasing an additional 797,445 shares during the period. Geode Capital Management LLC lifted its position 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 period. Norges Bank bought a new stake in shares of Newmont during the 4th quarter valued at $626,074,000. Northern Trust Corp grew its position in shares of Newmont by 11.5% in the 4th quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock worth $474,263,000 after buying an additional 1,309,177 shares during the period. 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 valued at $481,400,000 after acquiring an additional 1,507,708 shares during the period. 68.85% of the stock is currently 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.