Newmont Co. (NYSE:NEM) Given Average Recommendation of “Moderate Buy” by Brokerages

Newmont Co. (NYSE:NEM) has earned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $53.16.

A number of brokerages recently commented on NEM. JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Raymond James dropped their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. The Goldman Sachs Group initiated coverage on Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price objective for the company. Finally, CLSA assumed coverage on Newmont in a research note on Friday, November 29th. They issued an “underperform” rating on the stock.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the sale, the director now owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. The trade was a 3.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,596 shares in the company, valued at approximately $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 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 insiders.

Hedge Funds Weigh In On Newmont

Institutional investors and hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake 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 purchasing an additional 797,445 shares during the period. Geode Capital Management LLC lifted its holdings in shares of 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 buying an additional 1,213,397 shares in the last quarter. Norges Bank bought a new stake in shares of Newmont in the fourth quarter valued at about $626,074,000. Northern Trust Corp grew its stake in shares of Newmont by 11.5% in the fourth quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company’s stock valued at $474,263,000 after acquiring an additional 1,309,177 shares in the last quarter. Finally, Amundi increased its position in Newmont by 14.0% during the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock worth $481,400,000 after acquiring an additional 1,507,708 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Down 0.1 %

NYSE:NEM opened at $43.88 on Monday. Newmont has a 1 year low of $33.29 and a 1 year high of $58.72. The stock has a 50-day moving average price of $42.53 and a two-hundred day moving average price of $46.07. The stock has a market cap of $49.44 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 0.41 and a beta of 0.52. 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 issued its quarterly earnings data 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 business had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. As a group, equities analysts expect that Newmont will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 2.28%. Newmont’s dividend payout ratio (DPR) is currently 34.13%.

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.