Analysts Set Newmont Co. (NYSE:NEM) Target Price at $54.85

Newmont Co. (NYSE:NEM) has been given an average recommendation of “Moderate Buy” by the sixteen research firms that are covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $54.31.

Several brokerages have recently issued reports on NEM. Jefferies Financial Group lifted their price target on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Veritas raised shares of Newmont to a “strong-buy” rating in a report on Monday, September 30th. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $67.00 to $54.00 in a research note on Wednesday, October 30th. Scotiabank cut shares of Newmont from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $59.00 to $55.00 in a research note on Friday, October 25th. Finally, Argus upgraded shares of Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Thursday, August 29th.

Insider Transactions at Newmont

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $1,076,200.00. Following the sale, the chief executive officer now directly owns 271,469 shares in the company, valued at approximately $14,607,746.89. This represents a 6.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $157,410.00. Following the transaction, the executive vice president now owns 94,596 shares of the company’s stock, valued at $4,963,452.12. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Newmont

Several institutional investors and hedge funds have recently made changes to their positions in the company. Heathbridge Capital Management Ltd. lifted its holdings in Newmont by 2.0% during the 3rd quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock valued at $551,000 after purchasing an additional 200 shares during the last quarter. E. Ohman J or Asset Management AB boosted its stake in Newmont by 0.4% in the third quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock worth $2,562,000 after purchasing an additional 200 shares in the last quarter. Fulton Bank N.A. boosted its stake in Newmont by 1.5% in the third quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock worth $812,000 after purchasing an additional 221 shares in the last quarter. Carmel Capital Partners LLC boosted its stake in Newmont by 4.5% in the third quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock worth $279,000 after purchasing an additional 226 shares in the last quarter. Finally, Good Life Advisors LLC boosted its stake in Newmont by 4.6% in the third quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock worth $277,000 after purchasing an additional 229 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Price Performance

Shares of NYSE:NEM opened at $42.04 on Friday. Newmont has a 52 week low of $29.42 and a 52 week high of $58.72. The firm has a market capitalization of $47.86 billion, a P/E ratio of -27.66, a PEG ratio of 0.37 and a beta of 0.51. The firm’s 50 day moving average is $49.57 and its two-hundred day moving average is $47.47. 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 results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. Newmont’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same period last year, the business posted $0.36 earnings per share. Analysts anticipate that Newmont will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.38%. Newmont’s dividend payout ratio (DPR) is presently -65.79%.

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.