Newmont (NYSE:NEM) Downgraded by Wall Street Zen to “Hold”

Newmont (NYSE:NEM) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

NEM has been the subject of a number of other reports. Cfra Research upgraded shares of Newmont to a “strong-buy” rating in a research report on Friday, April 25th. Argus set a $63.00 price target on shares of Newmont in a research report on Friday, April 25th. Royal Bank of Canada upped their target price on Newmont from $51.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Friday, April 4th. National Bank Financial upgraded Newmont to a “hold” rating in a research note on Friday, March 21st. Finally, TD Securities decreased their target price on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and a consensus target price of $56.52.

Newmont Trading Up 2.1%

Shares of NEM stock opened at $53.75 on Thursday. The company’s fifty day simple moving average is $50.96 and its two-hundred day simple moving average is $45.21. The stock has a market capitalization of $59.82 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 0.41 and a beta of 0.31. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont has a 1 year low of $36.86 and a 1 year high of $58.72.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.54. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.01 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the prior year, the firm posted $0.55 EPS. As a group, analysts anticipate that Newmont will post 3.45 earnings per share for the current year.

Insider Transactions at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $131,130.00. Following the completion of the sale, the executive vice president now directly owns 86,526 shares in the company, valued at $3,782,051.46. This represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $90,785.67. Following the sale, the director now owns 47,916 shares of the company’s stock, valued at approximately $2,094,408.36. The trade was a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,154 shares of company stock worth $328,840. 0.05% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Newmont

Several institutional investors and hedge funds have recently bought and sold shares of NEM. Hemington Wealth Management raised its stake in shares of Newmont by 25.2% in the first quarter. Hemington Wealth Management now owns 965 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 194 shares during the last quarter. Ipswich Investment Management Co. Inc. lifted its stake in Newmont by 1.4% during the 1st quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company’s stock valued at $689,000 after acquiring an additional 200 shares during the period. SOA Wealth Advisors LLC. lifted its stake in Newmont by 64.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 201 shares during the period. HighPoint Advisor Group LLC lifted its stake in Newmont by 3.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company’s stock valued at $223,000 after acquiring an additional 219 shares during the period. Finally, Rothschild Investment LLC lifted its stake in Newmont by 8.5% during the 1st quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company’s stock valued at $135,000 after acquiring an additional 219 shares during the period. 68.85% of the stock is currently owned by 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.