Barclays Lowers Newmont (NYSE:NEM) Price Target to $54.00

Newmont (NYSE:NEMGet Rating) had its price target decreased by Barclays from $55.00 to $54.00 in a research note published on Monday, MarketBeat.com reports. Barclays currently has an equal weight rating on the basic materials company’s stock.

NEM has been the subject of several other reports. UBS Group upgraded shares of Newmont from a neutral rating to a buy rating and set a $50.00 price objective for the company in a research report on Tuesday, September 6th. Canaccord Genuity Group upgraded shares of Newmont from a hold rating to a buy rating and cut their price objective for the stock from $66.00 to $60.00 in a research report on Wednesday, July 27th. StockNews.com started coverage on shares of Newmont in a research report on Wednesday, October 12th. They set a hold rating for the company. The Goldman Sachs Group started coverage on shares of Newmont in a report on Monday, September 12th. They set a buy rating and a $53.00 target price on the stock. Finally, Credit Suisse Group lowered their target price on shares of Newmont to $48.00 in a report on Thursday, October 27th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $63.33.

Newmont Trading Up 0.3 %

Shares of NYSE:NEM opened at $46.25 on Monday. Newmont has a 52-week low of $37.45 and a 52-week high of $86.37. The company has a market capitalization of $36.71 billion, a P/E ratio of 36.71 and a beta of 0.25. The company has a 50-day simple moving average of $42.88 and a 200 day simple moving average of $51.06. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.29 and a current ratio of 2.72.

Newmont (NYSE:NEMGet Rating) last issued its earnings results on Tuesday, November 1st. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.02). Newmont had a net margin of 8.28% and a return on equity of 8.07%. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.79 billion. Sell-side analysts forecast that Newmont will post 1.9 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 8th will be issued a dividend of $0.55 per share. The ex-dividend date is Wednesday, December 7th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 4.76%. Newmont’s dividend payout ratio (DPR) is presently 174.60%.

Insider Transactions at Newmont

In other news, COO Robert D. Atkinson sold 3,000 shares of Newmont stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $42.71, for a total transaction of $128,130.00. Following the transaction, the chief operating officer now owns 42,947 shares in the company, valued at $1,834,266.37. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, COO Robert D. Atkinson sold 3,000 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $42.71, for a total value of $128,130.00. Following the transaction, the chief operating officer now owns 42,947 shares in the company, valued at $1,834,266.37. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Mark Casper sold 4,890 shares of the business’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $41.98, for a total transaction of $205,282.20. Following the completion of the transaction, the insider now owns 18,217 shares in the company, valued at approximately $764,749.66. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,890 shares of company stock worth $1,405,502. Company insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On Newmont

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pacific Center for Financial Services acquired a new position in shares of Newmont during the first quarter valued at about $30,000. Hoey Investments Inc. acquired a new position in shares of Newmont during the second quarter valued at about $30,000. Crewe Advisors LLC raised its holdings in shares of Newmont by 98.0% during the second quarter. Crewe Advisors LLC now owns 584 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 289 shares during the period. Herold Advisors Inc. acquired a new position in shares of Newmont during the first quarter valued at about $48,000. Finally, Tcwp LLC acquired a new position in shares of Newmont during the first quarter valued at about $48,000. Institutional investors and hedge funds own 81.11% of the company’s stock.

Newmont Company Profile

(Get Rating)

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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

Further Reading

Analyst Recommendations for Newmont (NYSE:NEM)

Receive News & Ratings for Newmont Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont and related companies with MarketBeat.com's FREE daily email newsletter.