Newmont (NYSE:NEM) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of Newmont (NYSE:NEM) from a sell rating to a hold rating in a research note released on Friday.

Other equities research analysts have also issued research reports about the stock. Royal Bank of Canada cut their target price on shares of Newmont from $45.00 to $40.00 and set a sector perform rating on the stock in a research note on Thursday, February 8th. Citigroup cut their price objective on Newmont from $60.00 to $45.00 and set a buy rating on the stock in a research report on Thursday, April 4th. BMO Capital Markets decreased their target price on Newmont from $57.00 to $56.00 and set an outperform rating for the company in a research report on Thursday, February 15th. Argus cut Newmont from a buy rating to a hold rating in a research note on Monday, February 26th. Finally, TD Securities upped their price target on Newmont from $43.00 to $48.00 and gave the stock a hold rating in a research note on Friday. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $51.75.

Newmont Price Performance

Shares of NEM stock opened at $42.26 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.90 and a current ratio of 2.15. Newmont has a fifty-two week low of $29.42 and a fifty-two week high of $50.18. The firm has a market cap of $48.72 billion, a P/E ratio of -15.83, a P/E/G ratio of 1.09 and a beta of 0.50. The business’s 50 day moving average price is $35.71 and its 200-day moving average price is $36.95.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.20. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.66 billion. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The firm’s revenue was up 50.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 earnings per share. On average, equities research analysts anticipate that Newmont will post 2.16 earnings per share for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Tuesday, June 4th. Newmont’s dividend payout ratio is presently -37.45%.

Institutional Trading of Newmont

Several institutional investors have recently bought and sold shares of the company. Life Planning Partners Inc bought a new position in shares of Newmont in the fourth quarter worth approximately $26,000. Manchester Capital Management LLC boosted its stake in Newmont by 171.9% during the 4th quarter. Manchester Capital Management LLC now owns 628 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 397 shares during the last quarter. TFC Financial Management Inc. increased its holdings in shares of Newmont by 242.2% in the 3rd quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 499 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new position in shares of Newmont in the third quarter worth $26,000. Finally, CVA Family Office LLC bought a new position in shares of Newmont during the fourth quarter valued at $34,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

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.