Newmont (NYSE:NEM) Rating Increased to Buy at UBS Group

UBS Group upgraded shares of Newmont (NYSE:NEM - Free Report) from a neutral rating to a buy rating in a report issued on Friday, MarketBeat reports. UBS Group currently has $60.00 price target on the basic materials company's stock, up from their prior price target of $50.00.

Several other brokerages have also issued reports on NEM. Raymond James boosted their target price on Newmont from $54.00 to $63.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. Scotiabank dropped their price objective on shares of Newmont from $52.00 to $50.00 and set a "sector perform" rating on the stock in a report on Tuesday, January 21st. TD Securities reduced their target price on shares of Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a research note on Wednesday, February 26th. Royal Bank of Canada upped their price target on shares of Newmont from $51.00 to $52.00 and gave the company a "sector perform" rating in a research note on Friday, April 4th. Finally, The Goldman Sachs Group initiated coverage on shares of Newmont in a research note on Monday, January 13th. They issued a "buy" rating and a $47.20 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Newmont currently has an average rating of "Moderate Buy" and an average target price of $54.55.

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Newmont Stock Performance

Shares of Newmont stock traded down $0.21 during trading hours on Friday, hitting $54.76. 14,007,529 shares of the company's stock traded hands, compared to its average volume of 9,825,236. The company has a fifty day simple moving average of $46.17 and a 200-day simple moving average of $44.97. 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 capitalization of $61.73 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 0.41 and a beta of 0.54. Newmont has a 12-month low of $36.60 and a 12-month high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. Equities research analysts anticipate that Newmont will post 3.45 EPS for the current fiscal year.

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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Tuesday, March 4th. Newmont's dividend payout ratio (DPR) is currently 34.13%.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total transaction of $89,082.53. Following the transaction, the director now directly owns 49,993 shares in the company, valued at $2,144,199.77. This trade represents a 3.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the business'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 completion of the sale, the chief operating officer now owns 136,967 shares of the company's stock, valued at approximately $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. Over the last ninety days, insiders sold 19,154 shares of company stock worth $825,678. Corporate insiders own 0.05% of the company's stock.

Hedge Funds Weigh In On Newmont

A number of large investors have recently added to or reduced their stakes in NEM. SOA Wealth Advisors LLC. grew its stake in shares of Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after buying an additional 201 shares during the last quarter. HighPoint Advisor Group LLC increased its stake in Newmont by 3.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company's stock worth $223,000 after purchasing an additional 219 shares during the period. Rothschild Investment LLC boosted its stake in shares of Newmont by 8.5% during the first quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company's stock valued at $135,000 after purchasing an additional 219 shares during the period. Confluence Investment Management LLC boosted its stake in shares of Newmont by 2.4% during the fourth quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company's stock valued at $439,000 after purchasing an additional 281 shares during the period. Finally, Keel Point LLC grew its holdings in shares of Newmont by 2.0% in the fourth quarter. Keel Point LLC now owns 14,774 shares of the basic materials company's stock worth $550,000 after purchasing an additional 287 shares during the last quarter. Hedge funds and other institutional investors 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.