Newmont Co. (NYSE:NEM) Receives $56.07 Average PT from Analysts

Newmont Co. (NYSE:NEM) has been given an average rating of “Moderate Buy” by the fifteen analysts that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $56.20.

A number of analysts recently commented on NEM shares. TD Securities lowered their price objective on Newmont from $55.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, October 30th. BMO Capital Markets reiterated an “outperform” rating and set a $58.00 price target (down previously from $65.00) on shares of Newmont in a research report on Tuesday, November 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $52.00 price target on shares of Newmont in a research report on Wednesday, September 6th. Raymond James lowered their target price on shares of Newmont from $59.00 to $57.00 and set an “outperform” rating for the company in a report on Friday, October 27th. Finally, UBS Group lowered their target price on shares of Newmont from $53.00 to $42.00 and set a “neutral” rating for the company in a report on Tuesday, August 29th.

Insider Transactions at Newmont

In related news, CEO Thomas Ronald Palmer sold 11,000 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $39.91, for a total transaction of $439,010.00. Following the completion of the transaction, the chief executive officer now owns 256,039 shares in the company, valued at $10,218,516.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Newmont news, COO Robert D. Atkinson sold 5,500 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $36.47, for a total transaction of $200,585.00. Following the transaction, the chief operating officer now owns 70,751 shares of the company’s stock, valued at $2,580,288.97. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Thomas Ronald Palmer sold 11,000 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $39.91, for a total value of $439,010.00. Following the completion of the sale, the chief executive officer now owns 256,039 shares in the company, valued at approximately $10,218,516.49. The disclosure for this sale can be found here. Insiders sold 50,049 shares of company stock valued at $1,901,528 in the last ninety days. 0.07% of the stock is currently owned by corporate insiders.

Institutional Trading of Newmont

Hedge funds and other institutional investors have recently modified their holdings of the stock. BI Asset Management Fondsmaeglerselskab A S lifted its position in Newmont by 66.6% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 32,609 shares of the basic materials company’s stock worth $1,391,000 after acquiring an additional 13,038 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Newmont by 101,647.2% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 547,513,832 shares of the basic materials company’s stock worth $23,356,940,000 after buying an additional 546,975,720 shares in the last quarter. Private Trust Co. NA lifted its holdings in shares of Newmont by 62.5% during the second quarter. Private Trust Co. NA now owns 1,233 shares of the basic materials company’s stock worth $53,000 after buying an additional 474 shares in the last quarter. Wintrust Investments LLC lifted its holdings in shares of Newmont by 5.9% during the second quarter. Wintrust Investments LLC now owns 31,297 shares of the basic materials company’s stock worth $1,335,000 after buying an additional 1,738 shares in the last quarter. Finally, Howe & Rusling Inc. lifted its holdings in shares of Newmont by 15.4% during the first quarter. Howe & Rusling Inc. now owns 75,772 shares of the basic materials company’s stock worth $3,714,000 after buying an additional 10,112 shares in the last quarter. Institutional investors own 79.53% of the company’s stock.

Newmont Trading Up 0.6 %

NEM opened at $36.56 on Tuesday. The company has a current ratio of 2.12, a quick ratio of 1.72 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $29.06 billion, a PE ratio of -35.50, a PEG ratio of 2.40 and a beta of 0.41. The firm has a 50-day moving average price of $37.97 and a two-hundred day moving average price of $40.57. Newmont has a 1-year low of $33.58 and a 1-year high of $60.08.

Newmont (NYSE:NEM) last released its earnings results on Thursday, October 26th. The basic materials company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.06). The firm had revenue of $2.49 billion during the quarter, compared to analyst estimates of $3.20 billion. Newmont had a negative net margin of 7.35% and a positive return on equity of 6.28%. As a group, equities analysts anticipate that Newmont will post 1.71 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Thursday, November 30th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend is Wednesday, November 29th. Newmont’s dividend payout ratio (DPR) is currently -155.34%.

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, 2022, it had proven and probable gold reserves of 96.1 million ounces and land position of 61,500 square kilometers.