Newmont Co. (NYSE:NEM) Receives $54.31 Consensus Target Price from Analysts

Shares of Newmont Co. (NYSE:NEM) have been assigned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $54.31.

A number of research firms have weighed in on NEM. Raymond James decreased their price objective on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, November 25th. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Bernstein Bank boosted their target price on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Finally, Scotiabank downgraded Newmont from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $59.00 to $55.00 in a report on Friday, October 25th.

Insiders Place Their Bets

In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 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 $1,076,200.00. Following the completion of the sale, the chief executive officer now owns 271,469 shares in the company, valued at approximately $14,607,746.89. The trade was a 6.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 sale, the executive vice president now owns 91,596 shares of the company’s stock, valued at $4,928,780.76. The trade was a 3.17 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Institutional Trading of Newmont

Institutional investors and hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC increased its position in shares of Newmont by 13.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 130,637 shares of the basic materials company’s stock valued at $5,470,000 after buying an additional 15,277 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Newmont by 21.9% in the 2nd quarter. Fifth Third Bancorp now owns 69,864 shares of the basic materials company’s stock valued at $2,925,000 after buying an additional 12,549 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its position in shares of Newmont by 136.6% in the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 15,472 shares of the basic materials company’s stock valued at $648,000 after buying an additional 8,932 shares in the last quarter. Jacobsen Capital Management increased its position in shares of Newmont by 11.1% in the 2nd quarter. Jacobsen Capital Management now owns 12,259 shares of the basic materials company’s stock valued at $513,000 after buying an additional 1,223 shares in the last quarter. Finally, JB Capital LLC increased its position in shares of Newmont by 1.8% in the 2nd quarter. JB Capital LLC now owns 74,313 shares of the basic materials company’s stock valued at $3,111,000 after buying an additional 1,303 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 3.4 %

NYSE NEM opened at $38.28 on Wednesday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock’s 50 day moving average is $45.03 and its two-hundred day moving average is $47.25. The company has a market capitalization of $43.58 billion, a price-to-earnings ratio of -25.18, a PEG ratio of 0.35 and a beta of 0.49. Newmont has a 1-year low of $29.42 and a 1-year high of $58.72.

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

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.61%. The ex-dividend date is Wednesday, November 27th. Newmont’s dividend payout ratio is -65.79%.

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.