Newmont (NYSE:NEM) Given New $53.00 Price Target at BMO Capital Markets

Newmont (NYSE:NEM) had its target price decreased by BMO Capital Markets from $54.00 to $53.00 in a research report report published on Tuesday, BayStreet.CA reports. BMO Capital Markets currently has an outperform rating on the basic materials company’s stock.

Other equities analysts have also issued research reports about the stock. StockNews.com raised shares of Newmont from a sell rating to a hold rating in a research note on Friday, April 26th. TD Securities raised their price objective on shares of Newmont from $43.00 to $48.00 and gave the stock a hold rating in a research note on Friday, April 26th. Sanford C. Bernstein decreased their target price on shares of Newmont from $46.00 to $45.00 and set a market perform rating for the company in a research note on Thursday, May 16th. Citigroup decreased their target price on shares of Newmont from $60.00 to $45.00 and set a buy rating for the company in a research note on Thursday, April 4th. Finally, Scotiabank decreased their target price on shares of Newmont from $50.00 to $43.50 and set a sector perform rating for the company in a research note on Wednesday, February 28th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $48.36.

Newmont Trading Up 1.8 %

Shares of NYSE NEM opened at $41.98 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.15 and a quick ratio of 1.90. The firm’s 50-day moving average price is $39.31 and its two-hundred day moving average price is $37.45. Newmont has a 52-week low of $29.42 and a 52-week high of $45.92.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.20. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.66 billion. Newmont had a negative net margin of 20.19% and a positive return on equity of 6.88%. The business’s revenue for the quarter was up 50.2% on a year-over-year basis. During the same quarter last year, the business earned $0.40 earnings per share. On average, research analysts predict that Newmont will post 2.37 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.38%. Newmont’s payout ratio is -37.45%.

Institutional Trading of Newmont

Several institutional investors have recently made changes to their positions in the business. Cetera Advisors LLC raised its holdings in Newmont by 30.3% in the first quarter. Cetera Advisors LLC now owns 21,464 shares of the basic materials company’s stock worth $769,000 after purchasing an additional 4,987 shares during the period. Cetera Investment Advisers raised its holdings in shares of Newmont by 990.2% during the first quarter. Cetera Investment Advisers now owns 205,894 shares of the basic materials company’s stock worth $7,379,000 after acquiring an additional 187,008 shares during the period. BigSur Wealth Management LLC raised its holdings in shares of Newmont by 51.3% during the first quarter. BigSur Wealth Management LLC now owns 11,800 shares of the basic materials company’s stock worth $423,000 after acquiring an additional 4,000 shares during the period. Swedbank AB acquired a new stake in shares of Newmont during the first quarter worth $29,788,000. Finally, LRI Investments LLC acquired a new stake in shares of Newmont during the first quarter worth $25,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

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.