Newmont Co. (NYSE:NEM) Given Consensus Rating of “Buy” by Analysts

Shares of Newmont Co. (NYSE:NEM) have received a consensus rating of “Buy” from the fifteen research firms that are covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $71.83.

NEM has been the topic of a number of research analyst reports. TD Securities reduced their target price on Newmont from $78.00 to $74.00 and set a “buy” rating on the stock in a report on Friday, February 26th. Zacks Investment Research upgraded Newmont from a “sell” rating to a “hold” rating and set a $60.00 price objective on the stock in a research note on Thursday, February 25th. Fundamental Research reduced their price objective on Newmont from $74.35 to $69.96 and set a “buy” rating on the stock in a research note on Friday, February 19th. Citigroup reduced their price objective on Newmont from $70.00 to $66.00 in a research note on Friday, February 19th. Finally, Raymond James reduced their price objective on Newmont from $86.00 to $78.00 and set an “outperform” rating on the stock in a research note on Tuesday.

In related news, CEO Thomas Ronald Palmer sold 5,150 shares of the business’s stock in a transaction dated Thursday, April 1st. The stock was sold at an average price of $61.03, for a total value of $314,304.50. Following the completion of the sale, the chief executive officer now directly owns 281,825 shares of the company’s stock, valued at $17,199,779.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP E Randall Engel sold 5,000 shares of the business’s stock in a transaction dated Wednesday, January 13th. The shares were sold at an average price of $62.64, for a total value of $313,200.00. Following the completion of the sale, the executive vice president now directly owns 264,397 shares of the company’s stock, valued at $16,561,828.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,522 shares of company stock worth $1,672,787. Corporate insiders own 0.28% of the company’s stock.

A number of institutional investors have recently made changes to their positions in NEM. Tompkins Financial Corp bought a new stake in Newmont in the fourth quarter valued at about $26,000. Bartlett & Co. LLC boosted its stake in Newmont by 1,446.7% in the fourth quarter. Bartlett & Co. LLC now owns 464 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 434 shares during the period. MD Financial Management Inc. acquired a new position in Newmont in the fourth quarter valued at approximately $28,000. SOA Wealth Advisors LLC. acquired a new position in Newmont in the fourth quarter valued at approximately $34,000. Finally, Regent Peak Wealth Advisors LLC acquired a new position in Newmont in the fourth quarter valued at approximately $55,000. 79.18% of the stock is owned by hedge funds and other institutional investors.

Shares of Newmont stock opened at $62.01 on Thursday. Newmont has a twelve month low of $49.36 and a twelve month high of $72.22. The stock has a market capitalization of $49.63 billion, a P/E ratio of 19.50 and a beta of 0.14. The company has a current ratio of 2.83, a quick ratio of 2.47 and a debt-to-equity ratio of 0.26. The business’s fifty day moving average price is $58.95 and its 200 day moving average price is $60.85.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, February 17th. The basic materials company reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.11. Newmont had a return on equity of 7.37% and a net margin of 23.19%. During the same period in the previous year, the company earned $0.50 EPS. As a group, sell-side analysts predict that Newmont will post 2.56 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 18th. Stockholders of record on Thursday, March 4th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.55%. This is a positive change from Newmont’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, March 3rd. Newmont’s payout ratio is presently 121.21%.

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, and Ghana. As of December 31, 2020, it had proven and probable gold reserves of 94.2 million ounces and land position of 58,900 square kilometers.

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Analyst Recommendations for Newmont (NYSE:NEM)

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