Newmont (NYSE:NEM) Shares Down 0.4% – Should You Sell?

Shares of Newmont Co. (NYSE:NEM) fell 0.4% during mid-day trading on Monday . The stock traded as low as $53.10 and last traded at $53.74. 2,870,933 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 9,833,392 shares. The stock had previously closed at $53.94.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NEM. The Goldman Sachs Group assumed coverage on Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 target price on the stock. National Bankshares restated a “sector perform” rating on shares of Newmont in a report on Wednesday. National Bank Financial upgraded shares of Newmont to a “hold” rating in a research note on Friday, March 21st. Argus set a $63.00 price target on shares of Newmont in a research note on Friday. Finally, UBS Group upgraded shares of Newmont from a “neutral” rating to a “buy” rating and boosted their target price for the company from $50.00 to $60.00 in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and a consensus target price of $55.40.

Newmont Price Performance

The company has a market capitalization of $60.78 billion, a P/E ratio of 18.40, a P/E/G ratio of 0.41 and a beta of 0.54. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The business’s fifty day moving average price is $47.89 and its 200-day moving average price is $45.07.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 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 period in the previous year, the firm earned $0.55 EPS. As a group, sell-side analysts predict that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.85%. Newmont’s dividend payout ratio is currently 22.42%.

Insider Activity at Newmont

In other news, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $386,010.00. Following the completion of the transaction, the chief operating officer now owns 136,967 shares of the company’s stock, valued at approximately $5,874,514.63. This represents a 6.17 % 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, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $2,094,408.36. This trade represents a 4.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,154 shares of company stock worth $825,678 in the last 90 days. Company insiders own 0.05% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. SOA Wealth Advisors LLC. boosted 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 purchasing an additional 201 shares during the last quarter. Nexus Investment Management ULC bought a new stake in shares of Newmont in the first quarter worth $31,000. Alpine Bank Wealth Management bought a new position in Newmont in the first quarter valued at about $32,000. HHM Wealth Advisors LLC increased its position in shares of Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 350 shares during the last quarter. Finally, Redwood Park Advisors LLC purchased a new position in shares of Newmont in the fourth quarter worth approximately $37,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

About Newmont

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.