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

Newmont Co. (NYSE:NEM) has earned a consensus rating of “Moderate Buy” from the fourteen analysts that are presently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $51.99.

Several research analysts have weighed in on the stock. BMO Capital Markets decreased their price target on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. National Bank Financial reiterated an “outperform overweight” rating on shares of Newmont in a research report on Monday, April 8th. Jefferies Financial Group initiated coverage on Newmont in a report on Thursday, February 29th. They set a “buy” rating and a $38.00 price target for the company. Scotiabank decreased their price objective on Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. Finally, TD Securities cut their price objective on Newmont from $40.00 to $36.00 and set a “hold” rating for the company in a research note on Friday, February 23rd.

Newmont Stock Performance

Newmont stock opened at $38.55 on Friday. The company has a market capitalization of $44.44 billion, a PE ratio of -16.20, a P/E/G ratio of 1.02 and a beta of 0.50. The firm has a fifty day simple moving average of $34.70 and a two-hundred day simple moving average of $36.81. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.25. Newmont has a twelve month low of $29.42 and a twelve month high of $50.18.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.01). Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The firm had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.44 billion. During the same period in the previous year, the company earned $0.44 earnings per share. Newmont’s revenue for the quarter was up 23.7% on a year-over-year basis. Research analysts expect that Newmont will post 2.01 EPS for the current year.

Newmont Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 5th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend was Monday, March 4th. Newmont’s dividend payout ratio is presently -42.02%.

Hedge Funds Weigh In On Newmont

Large investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust raised its holdings in Newmont by 25.8% during the first quarter. Parkside Financial Bank & Trust now owns 1,354 shares of the basic materials company’s stock worth $108,000 after purchasing an additional 278 shares in the last quarter. S.A. Mason LLC raised its stake in shares of Newmont by 15.1% during the 3rd quarter. S.A. Mason LLC now owns 2,175 shares of the basic materials company’s stock worth $80,000 after buying an additional 285 shares in the last quarter. Grey Street Capital LLC lifted its holdings in shares of Newmont by 0.4% in the 4th quarter. Grey Street Capital LLC now owns 69,874 shares of the basic materials company’s stock valued at $2,892,000 after buying an additional 289 shares during the period. Moody National Bank Trust Division boosted its stake in shares of Newmont by 1.7% in the first quarter. Moody National Bank Trust Division now owns 18,044 shares of the basic materials company’s stock valued at $647,000 after buying an additional 296 shares in the last quarter. Finally, Reitz Capital Advisors LLC grew its holdings in Newmont by 1.1% during the fourth quarter. Reitz Capital Advisors LLC now owns 28,174 shares of the basic materials company’s stock worth $1,166,000 after acquiring an additional 298 shares during the period. Hedge funds and other institutional investors 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.