Newmont (NYSE:NEM) Earns “Outperform” Rating from National Bank Financial


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National Bank Financial reiterated their outperform rating on shares of Newmont (NYSE:NEM) in a report published on Monday morning, The Fly reports.

Several other equities research analysts also recently weighed in on the stock. ValuEngine downgraded shares of Newmont from a hold rating to a sell rating in a research note on Wednesday, November 18th. BidaskClub raised shares of Newmont from a strong sell rating to a sell rating in a research note on Thursday, January 7th. Raymond James boosted their price target on shares of Newmont from $88.00 to $90.00 and gave the stock an outperform rating in a report on Wednesday, December 9th. Zacks Investment Research cut shares of Newmont from a buy rating to a hold rating and set a $62.00 price target for the company. in a report on Wednesday, November 25th. Finally, TD Securities boosted their price target on shares of Newmont from $85.00 to $86.00 and gave the stock a buy rating in a report on Wednesday, December 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the stock. Newmont has a consensus rating of Buy and an average price target of $72.51.

Newmont stock opened at $62.07 on Monday. The company’s 50 day simple moving average is $60.39 and its 200-day simple moving average is $63.16. The company has a market capitalization of $49.86 billion, a price-to-earnings ratio of 19.52 and a beta of 0.15. Newmont has a 1 year low of $33.00 and a 1 year high of $72.22. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.47 and a current ratio of 2.83.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, October 29th. The basic materials company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.07. Newmont had a net margin of 23.19% and a return on equity of 7.37%. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same period in the prior year, the firm earned $0.36 EPS. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. Equities analysts expect that Newmont will post 2.59 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, December 28th. Stockholders of record on Friday, December 11th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Thursday, December 10th. This is an increase from Newmont’s previous quarterly dividend of $0.25. Newmont’s dividend payout ratio (DPR) is currently 121.21%.

In related news, EVP Jennifer Cmil sold 2,571 shares of the stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $61.67, for a total value of $158,553.57. Following the sale, the executive vice president now directly owns 16,024 shares of the company’s stock, valued at approximately $988,200.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,150 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $63.25, for a total transaction of $325,737.50. Following the completion of the sale, the chief executive officer now directly owns 252,847 shares in the company, valued at $15,992,572.75. The disclosure for this sale can be found here. Insiders sold a total of 42,815 shares of company stock valued at $2,641,618 in the last quarter. Insiders own 0.28% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Contravisory Investment Management Inc. acquired a new stake in shares of Newmont during the 3rd quarter worth about $26,000. Hexagon Capital Partners LLC acquired a new stake in shares of Newmont in the third quarter worth approximately $32,000. Clearstead Advisors LLC acquired a new stake in shares of Newmont in the third quarter worth approximately $33,000. Harbor Investment Advisory LLC boosted its position in shares of Newmont by 1,773.2% in the third quarter. Harbor Investment Advisory LLC now owns 768 shares of the basic materials company’s stock worth $49,000 after acquiring an additional 727 shares during the last quarter. Finally, Freestone Capital Holdings LLC acquired a new stake in shares of Newmont in the third quarter worth approximately $57,000. 75.69% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Company Profile

Newmont Corporation engages in the production and exploration of gold, 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, and Ghana. As of December 31, 2019, it had proven and probable gold reserves of 100.2 million ounces and land position of 68,300 square kilometers.

Further Reading: Special Dividends

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Analyst Recommendations for Newmont (NYSE:NEM)

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