Newmont (NYSE:NEM) Reaches New 1-Year High at $52.71

Newmont Co. (NYSE:NEM)’s stock price hit a new 52-week high on Monday . The company traded as high as $52.71 and last traded at $52.29, with a volume of 392089 shares trading hands. The stock had previously closed at $52.04.

Analysts Set New Price Targets

Several research firms have issued reports on NEM. BMO Capital Markets increased their price objective on Newmont from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Jefferies Financial Group increased their target price on shares of Newmont from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. BNP Paribas raised shares of Newmont to a “strong-buy” rating in a report on Friday, June 21st. National Bank Financial cut shares of Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, April 30th. Finally, JPMorgan Chase & Co. lowered shares of Newmont from an “overweight” rating to a “neutral” rating in a report on Monday, July 8th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.92.

Newmont Price Performance

The company has a debt-to-equity ratio of 0.31, a current ratio of 2.11 and a quick ratio of 1.85. The company’s 50 day moving average price is $46.36 and its 200 day moving average price is $40.77. The firm has a market capitalization of $60.18 billion, a P/E ratio of -19.54, a PEG ratio of 0.37 and a beta of 0.47.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.10. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.13 billion. Newmont had a positive return on equity of 8.35% and a negative net margin of 13.16%. The business’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same period last year, the company earned $0.33 EPS. As a group, sell-side analysts anticipate that Newmont Co. will post 2.76 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 5th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, September 5th. This represents a $1.00 annualized dividend and a yield of 1.92%. Newmont’s dividend payout ratio is currently -37.45%.

Insider Buying and Selling at Newmont

In related news, CEO Thomas Ronald Palmer sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total transaction 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 $15,420,830.19. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Newmont

Institutional investors have recently bought and sold shares of the business. LRI Investments LLC bought a new position in shares of Newmont in the 1st quarter worth $25,000. Strategic Financial Concepts LLC acquired a new position in Newmont in the second quarter valued at about $25,000. Manchester Capital Management LLC lifted its stake in Newmont by 171.9% in the fourth quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock valued at $26,000 after buying an additional 397 shares during the period. Meeder Asset Management Inc. bought a new position in Newmont during the second quarter worth about $27,000. Finally, Heritage Wealth Advisors grew its position in shares of Newmont by 1,310.4% during the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock worth $34,000 after buying an additional 878 shares during the period. 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.