Newmont (NYSE:NEM) Now Covered by Analysts at CLSA

CLSA started coverage on shares of Newmont (NYSE:NEM) in a research note released on Friday morning, Marketbeat reports. The firm issued an underperform rating on the basic materials company’s stock.

A number of other research analysts have also commented on the stock. Raymond James cut their price objective on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Thursday, August 29th. UBS Group cut shares of Newmont from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. Finally, CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.31.

Newmont Price Performance

Shares of NYSE:NEM opened at $41.96 on Friday. The company has a market cap of $47.77 billion, a price-to-earnings ratio of -27.61, a PEG ratio of 0.36 and a beta of 0.51. The business has a 50 day moving average price of $49.09 and a 200 day moving average price of $47.42. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. Newmont has a twelve month low of $29.42 and a twelve month high of $58.72.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the prior year, the company posted $0.36 earnings per share. The firm’s revenue was up 84.7% compared to the same quarter last year. Research analysts predict that Newmont will post 3.08 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.00 dividend on an annualized basis and a yield of 2.38%. Newmont’s payout ratio is -65.79%.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the sale, the executive vice president now owns 91,596 shares in the company, valued at approximately $4,928,780.76. The trade was a 3.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $1,076,200.00. Following the completion of the transaction, the chief executive officer now owns 271,469 shares in the company, valued at $14,607,746.89. This represents a 6.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,000 shares of company stock worth $2,444,440. Company insiders own 0.06% of the company’s stock.

Institutional Trading of Newmont

Hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC lifted its holdings in Newmont by 19.1% during the first quarter. Janus Henderson Group PLC now owns 341,907 shares of the basic materials company’s stock worth $12,256,000 after acquiring an additional 54,761 shares in the last quarter. LRI Investments LLC bought a new position in shares of Newmont during the 1st quarter valued at about $25,000. Cetera Investment Advisers raised its holdings in Newmont by 990.2% during the 1st quarter. Cetera Investment Advisers now owns 205,894 shares of the basic materials company’s stock worth $7,379,000 after buying an additional 187,008 shares during the period. Cetera Advisors LLC lifted its stake in Newmont by 30.3% in the first quarter. Cetera Advisors LLC now owns 21,464 shares of the basic materials company’s stock valued at $769,000 after buying an additional 4,987 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Newmont by 35.6% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 94,471 shares of the basic materials company’s stock valued at $3,386,000 after buying an additional 24,819 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

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.