Newmont (NYSE:NEM) Trading 3.5% Higher – What’s Next?

Newmont Co. (NYSE:NEM)’s share price shot up 3.5% on Thursday . The company traded as high as $45.30 and last traded at $45.16. 898,489 shares were traded during trading, a decline of 91% from the average session volume of 9,566,776 shares. The stock had previously closed at $43.63.

Wall Street Analyst Weigh In

NEM has been the subject of a number of recent research reports. TD Securities decreased 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. The Goldman Sachs Group initiated coverage on Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective for the company. CLSA assumed coverage on shares of Newmont in a research note on Friday, November 29th. They set an “underperform” rating on the stock. StockNews.com upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Finally, Raymond James reduced their price target on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.16.

Newmont Price Performance

The firm has a market capitalization of $51.30 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 0.41 and a beta of 0.54. The business has a 50-day moving average price of $42.89 and a two-hundred day moving average price of $45.85. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.29. The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. As a group, research analysts forecast that Newmont Co. will post 3.45 EPS for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.20%. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Insider Buying and Selling

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at approximately $5,838,680. This represents a 5.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the transaction, the director now owns 52,070 shares in the company, valued at $2,082,800. This represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,231 shares of company stock valued at $1,388,758 over the last 90 days. 0.06% of the stock is currently owned by company insiders.

Institutional Trading of Newmont

Large investors have recently modified their holdings of the company. Avior Wealth Management LLC boosted its holdings in Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 326 shares during the period. Prospera Private Wealth LLC acquired a new position in shares of Newmont during the 3rd quarter worth about $28,000. HHM Wealth Advisors LLC boosted its stake in Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 350 shares during the period. Redwood Park Advisors LLC acquired a new stake in Newmont in the 4th quarter valued at approximately $37,000. Finally, Promus Capital LLC acquired a new position in shares of Newmont during the fourth quarter worth approximately $38,000. 68.85% of the stock is owned by institutional investors.

About Newmont

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.