Newmont Corporation (NYSE:NEM – Get Free Report)’s stock price shot up 2.2% during mid-day trading on Monday . The stock traded as high as $100.61 and last traded at $97.9440. 17,733,896 shares were traded during mid-day trading, an increase of 64% from the average session volume of 10,799,077 shares. The stock had previously closed at $95.80.
Key Stories Impacting Newmont
Here are the key news stories impacting Newmont this week:
- Positive Sentiment: Zacks highlights Newmont as a basic-materials name with positive earnings momentum, which can attract buyers expecting further upside from earnings surprises. Looking for Stocks with Positive Earnings Momentum? Check Out These 2 Basic Materials Names
- Neutral Sentiment: Zacks reports heightened investor searches/attention on Newmont, which may boost short-term trading interest and liquidity but is not a direct fundamental catalyst. Investors Heavily Search Newmont Corporation (NEM): Here is What You Need to Know
- Neutral Sentiment: Newmont updated its ASX CDI dividend notice with currency exchange details — a routine but positive disclosure for international CDI holders that maintains dividend clarity. Newmont Updates ASX CDI Dividend Notice With Currency Exchange Details
- Neutral Sentiment: Company executive Peter Toth disclosed share sales under a pre-planned trading plan — typical compliance activity that investors often view as neutral when properly pre-scheduled. Newmont Executive Peter Toth Sells Shares Under Pre-Planned Trading Plan
- Negative Sentiment: Barron’s warns that plunging gold prices have erased YTD gains and are pressuring miners, a direct negative for Newmont’s revenue outlook and sentiment. Newmont, Freeport Stocks Drop. Diving Gold Prices Will Continue to Smash Miners.
- Negative Sentiment: AmericanBankingNews reports a recent EVP sale of $324,000 in Newmont stock — insider selling can weigh on sentiment unless clearly routine. Newmont (NYSE:NEM) EVP Sells $324,000.00 in Stock
- Negative Sentiment: Scotiabank cut its price target on Newmont to $151, signaling more conservative near-term expectations from at least one sell-side analyst. Scotiabank Cuts Newmont (NYSE:NEM) Price Target to $151.00
- Negative Sentiment: Macro notes (higher oil driving inflation and rate concerns) and an analyst downgrade have recently pressured shares, contributing to a pullback in the sector. Here’s Why High Oil Prices Are Hurting Precious Metals Mining Stocks
- Negative Sentiment: Market reports note shares fell ~3.5% after an analyst downgrade, underscoring sensitivity to sell-side views and commodity moves. Newmont (NYSE:NEM) Shares Down 3.5% After Analyst Downgrade
Analysts Set New Price Targets
NEM has been the subject of several recent analyst reports. Canaccord Genuity Group increased their target price on Newmont from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Jefferies Financial Group lifted their price target on Newmont from $158.00 to $162.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. TD Securities reduced their price objective on Newmont from $120.00 to $118.00 and set a “hold” rating for the company in a research report on Tuesday, March 3rd. Raymond James Financial raised their price objective on shares of Newmont from $111.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, January 15th. Finally, The Goldman Sachs Group boosted their target price 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. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $134.10.
Newmont Stock Up 2.2%
The firm has a 50 day moving average of $118.43 and a 200-day moving average of $99.73. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.02. The stock has a market capitalization of $106.55 billion, a P/E ratio of 15.33, a price-to-earnings-growth ratio of 0.74 and a beta of 0.39.
Newmont (NYSE:NEM – Get Free Report) last announced 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. The company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.18 billion. Newmont had a return on equity of 23.28% and a net margin of 31.25%.The company’s quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter last year, the company earned $1.40 EPS. On average, equities research analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.
Newmont Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders 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. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, March 3rd. Newmont’s dividend payout ratio is presently 16.28%.
Insider Buying and Selling at Newmont
In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $108.00, for a total transaction of $324,000.00. Following the sale, the executive vice president directly owned 55,315 shares in the company, valued at approximately $5,974,020. The trade was a 5.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David James Fry sold 18,394 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the sale, the insider directly owned 17,147 shares in the company, valued at approximately $1,911,033.15. The trade was a 51.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.05% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Estate Counselors LLC bought a new position in shares of Newmont in the third quarter valued at approximately $4,182,000. AustralianSuper Pty Ltd grew its position in Newmont by 124.8% during the 3rd quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock worth $27,843,000 after acquiring an additional 183,360 shares during the last quarter. Knights of Columbus Asset Advisors LLC increased its holdings in Newmont by 286.5% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company’s stock valued at $5,101,000 after purchasing an additional 44,846 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in Newmont by 172.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock valued at $362,888,000 after purchasing an additional 2,723,044 shares during the last quarter. Finally, Live Oak Investment Partners bought a new position in Newmont in the 3rd quarter valued at $2,232,000. Institutional investors own 68.85% of the company’s stock.
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.
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