Newmont (NYSE:NEM) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Newmont (NYSE:NEM) from a buy rating to a hold rating in a report released on Saturday morning.

A number of other research analysts have also recently weighed in on the stock. UBS Group reaffirmed a “buy” rating and set a $160.00 price target on shares of Newmont in a research report on Friday, January 30th. Argus raised their target price on shares of Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. The Goldman Sachs Group upped their price target on shares of Newmont from $99.90 to $123.90 and gave the stock a “buy” rating in a research report on Monday, January 12th. Stifel Nicolaus boosted their price target on Newmont from $120.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Finally, BNP Paribas Exane upped their price target on Newmont from $97.00 to $123.00 and gave the stock a “neutral” rating in a report on Thursday, February 12th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and a consensus price target of $129.73.

Newmont Price Performance

Shares of Newmont stock opened at $128.82 on Friday. The business’s fifty day moving average price is $116.26 and its 200 day moving average price is $95.77. Newmont has a twelve month low of $41.93 and a twelve month high of $134.88. The company has a current ratio of 2.29, a quick ratio of 2.02 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $140.14 billion, a P/E ratio of 20.16, a PEG ratio of 1.08 and a beta of 0.39.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 19th. The basic materials company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.71. Newmont had a return on equity of 23.28% and a net margin of 31.25%.The company had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.18 billion. During the same period last year, the business posted $1.40 EPS. The company’s quarterly revenue was up 20.6% compared to the same quarter last year. As a group, research analysts anticipate that Newmont will post 3.45 earnings per share for the current year.

Newmont Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Tuesday, March 3rd will be paid a dividend of $0.26 per share. This is an increase from Newmont’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, March 3rd. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. Newmont’s dividend payout ratio (DPR) is currently 15.65%.

Institutional Trading of Newmont

Institutional investors have recently added to or reduced their stakes in the stock. GoalVest Advisory LLC bought a new stake in shares of Newmont in the 4th quarter worth about $25,000. Swiss RE Ltd. acquired a new position in Newmont in the fourth quarter worth about $26,000. Cornerstone Planning Group LLC increased its holdings in Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after buying an additional 206 shares during the last quarter. Lodestone Wealth Management LLC acquired a new stake in Newmont during the fourth quarter valued at approximately $28,000. Finally, Laurel Wealth Advisors LLC bought a new position in Newmont during the 4th quarter worth approximately $30,000. 68.85% of the stock is owned by institutional investors and hedge funds.

About Newmont

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long?lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.