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

Newmont Co. (NYSE:NEM) has been assigned an average recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $49.13.

A number of equities research analysts recently commented on the company. Bank of America upped their target price on Newmont from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. BMO Capital Markets lowered their price target on shares of Newmont from $54.00 to $53.00 and set an “outperform” rating on the stock in a report on Tuesday, May 21st. National Bank Financial lowered Newmont from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, April 30th. Scotiabank upped their target price on Newmont from $46.50 to $48.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 23rd. Finally, StockNews.com raised Newmont from a “sell” rating to a “hold” rating in a report on Friday, April 26th.

Newmont Trading Up 0.1 %

NYSE:NEM opened at $41.87 on Wednesday. The company has a market capitalization of $48.28 billion, a P/E ratio of -15.68, a PEG ratio of 0.35 and a beta of 0.52. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32. Newmont has a 12 month low of $29.42 and a 12 month high of $45.92. The firm has a fifty day simple moving average of $41.67 and a 200-day simple moving average of $38.10.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.66 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The firm’s quarterly revenue was up 50.2% on a year-over-year basis. During the same quarter last year, the business posted $0.40 EPS. On average, equities research analysts anticipate that Newmont will post 2.48 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th were given a $0.25 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.39%. Newmont’s dividend payout ratio (DPR) is -37.45%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NEM. LRI Investments LLC acquired a new position in shares of Newmont during the first quarter valued at approximately $25,000. Life Planning Partners Inc purchased a new position in Newmont in the 4th quarter valued at $26,000. Manchester Capital Management LLC lifted its holdings in Newmont by 171.9% in the 4th quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 397 shares in the last quarter. CVA Family Office LLC acquired a new stake in Newmont during the 4th quarter worth $34,000. Finally, Heritage Wealth Advisors grew its holdings in shares of Newmont by 1,310.4% during the first quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company’s stock worth $34,000 after buying an additional 878 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

About Newmont

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.