Newmont (NYSE:NEM) Upgraded at StockNews.com

StockNews.com upgraded shares of Newmont (NYSE:NEM) from a hold rating to a buy rating in a research report report published on Monday morning.

Several other analysts also recently issued reports on NEM. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. The Goldman Sachs Group began coverage on Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price target for the company. Raymond James decreased their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research note on Tuesday, November 19th. Finally, CLSA began coverage on Newmont in a research note on Friday, November 29th. They set an “underperform” rating for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of $53.16.

Newmont Stock Performance

Shares of NEM stock opened at $43.55 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The stock’s 50-day moving average is $41.82 and its two-hundred day moving average is $46.37. The firm has a market cap of $49.58 billion, a P/E ratio of 14.86, a PEG ratio of 0.41 and a beta of 0.52.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.29. The company had revenue of $5.65 billion for 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%. Analysts predict that Newmont will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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 issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.30%. The ex-dividend date is Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the sale, the director now owns 52,070 shares of the company’s stock, valued at $2,082,800. The trade was a 3.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the business’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 $120,000.00. Following the completion of the sale, the executive vice president now directly owns 82,596 shares in the company, valued at $3,303,840. This trade represents a 3.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,154 shares of company stock valued at $1,166,843 in the last 90 days. 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 bought and sold shares of NEM. Norges Bank acquired a new stake in shares of Newmont in the 4th quarter valued at $626,074,000. Voloridge Investment Management LLC acquired a new stake in shares of Newmont in the 4th quarter valued at $92,693,000. Capital Research Global Investors boosted its stake in shares of Newmont by 70.7% in the 4th quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company’s stock valued at $210,105,000 after purchasing an additional 2,338,953 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Newmont in the 4th quarter valued at $76,281,000. Finally, Invesco Ltd. boosted its stake in shares of Newmont by 23.9% in the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company’s stock valued at $391,568,000 after purchasing an additional 2,028,150 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

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.