Newmont (NYSE:NEM) Stock Rating Upgraded by UBS Group

UBS Group upgraded shares of Newmont (NYSE:NEM) from a neutral rating to a buy rating in a report published on Friday, Marketbeat Ratings reports. They currently have $60.00 price objective on the basic materials company’s stock, up from their previous price objective of $50.00.

Several other equities analysts have also recently issued reports on the company. Raymond James raised their price target on Newmont from $54.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, April 4th. The Goldman Sachs Group initiated coverage on shares of Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 target price on the stock. TD Securities dropped their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Finally, National Bank Financial upgraded shares of Newmont to a “hold” rating in a research report on Friday, March 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and a consensus target price of $54.55.

Newmont Stock Performance

Newmont stock opened at $54.80 on Friday. Newmont has a 52-week low of $36.60 and a 52-week high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The stock has a fifty day moving average price of $46.17 and a two-hundred day moving average price of $44.97. The firm has a market capitalization of $61.77 billion, a P/E ratio of 18.70, a P/E/G ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. As a group, analysts anticipate that Newmont will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 annualized dividend and a yield of 1.82%. Newmont’s dividend payout ratio is presently 34.13%.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $131,130.00. Following the sale, the executive vice president now directly owns 86,526 shares in the company, valued at approximately $3,782,051.46. This trade represents a 3.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the sale, the director now directly owns 47,916 shares in the company, valued at $2,094,408.36. This represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,154 shares of company stock valued at $825,678. Company insiders own 0.05% of the company’s stock.

Institutional Trading of Newmont

Several hedge funds and other institutional investors have recently modified their holdings of the company. Nexus Investment Management ULC bought a new position in shares of Newmont during the first quarter worth about $31,000. HHM Wealth Advisors LLC grew its stake in shares of Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 350 shares in the last quarter. Redwood Park Advisors LLC bought a new position in shares of Newmont during the 4th quarter worth approximately $37,000. Promus Capital LLC acquired a new stake in shares of Newmont in the fourth quarter valued at approximately $38,000. Finally, McIlrath & Eck LLC lifted its position in shares of Newmont by 80.6% in the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 361 shares in the last quarter. 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.