Newmont Co. (NYSE:NEM) Receives Consensus Rating of “Moderate Buy” from Brokerages

Newmont Co. (NYSE:NEM) has earned a consensus rating of “Moderate Buy” from the nineteen analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, eight have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $53.16.

Several equities research analysts have recently commented on NEM shares. National Bank Financial raised Newmont to a “hold” rating in a report on Friday, March 21st. The Goldman Sachs Group started coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price objective for the company. Royal Bank of Canada lifted their target price on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. TD Securities reduced their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, February 26th. Finally, CLSA began coverage on shares of Newmont in a research report on Friday, November 29th. They set an “underperform” rating on the stock.

Newmont Stock Up 2.1 %

NYSE NEM opened at $48.38 on Friday. Newmont has a 12 month low of $35.37 and a 12 month high of $58.72. The company has a market capitalization of $54.53 billion, a P/E ratio of 16.51, a PEG ratio of 0.41 and a beta of 0.54. The company’s 50 day simple moving average is $44.65 and its 200 day simple moving average is $45.52. 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 (NYSE:NEM) last posted 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 for the quarter, compared to analysts’ expectations of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Equities research analysts expect that Newmont will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.07%. The ex-dividend date was Tuesday, March 4th. Newmont’s payout ratio is currently 34.13%.

Insider Activity

In other Newmont news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the transaction, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at $5,838,680. This represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares of the company’s stock, 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 a total of 33,231 shares of company stock worth $1,388,758 in the last three months. 0.06% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Cerity Partners LLC raised its position in shares of Newmont by 49.3% in the third quarter. Cerity Partners LLC now owns 58,535 shares of the basic materials company’s stock valued at $3,129,000 after purchasing an additional 19,321 shares during the period. Penserra Capital Management LLC raised its holdings in Newmont by 17,084.4% in the 3rd quarter. Penserra Capital Management LLC now owns 16,497 shares of the basic materials company’s stock worth $881,000 after acquiring an additional 16,401 shares during the period. Brown Brothers Harriman & Co. raised its holdings in Newmont by 31.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 4,526 shares of the basic materials company’s stock worth $242,000 after acquiring an additional 1,088 shares during the period. FMR LLC lifted its position in Newmont by 21.1% during the 3rd quarter. FMR LLC now owns 7,052,439 shares of the basic materials company’s stock worth $376,953,000 after acquiring an additional 1,226,697 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in Newmont during the third quarter valued at about $3,481,000. 68.85% of the stock is owned by institutional investors.

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.