Shares of Newmont Corporation (NYSE:NEM – Get Free Report) have been assigned an average rating of “Moderate Buy” from the twenty-four brokerages that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and three have given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $140.50.
NEM has been the subject of a number of analyst reports. Weiss Ratings cut shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Zacks Research raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 15th. TD Cowen reissued a “buy” rating on shares of Newmont in a research note on Monday, April 27th. TD Securities reissued a “hold” rating and issued a $129.00 price objective on shares of Newmont in a research note on Monday, April 27th. Finally, Wall Street Zen cut shares of Newmont from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 30th.
View Our Latest Stock Report on NEM
Newmont Stock Up 0.8%
Newmont (NYSE:NEM – Get Free Report) last announced its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The business had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same period in the previous year, the business earned $1.25 EPS. The company’s quarterly revenue was up 45.8% compared to the same quarter last year. Equities research analysts forecast that Newmont will post 9.91 earnings per share for the current year.
Newmont Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is 13.49%.
Insider Activity
In other news, EVP Peter Wexler sold 13,378 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $1,473,051.58. Following the completion of the sale, the executive vice president owned 67,865 shares in the company, valued at approximately $7,472,615.15. This trade represents a 16.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $408,852.24. Following the sale, the chief executive officer owned 142,999 shares of the company’s stock, valued at $15,060,654.68. The trade was a 2.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,556 shares of company stock worth $3,120,276 over the last 90 days. Insiders own 0.06% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC grew its position in shares of Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after buying an additional 1,847 shares during the last quarter. Woodline Partners LP grew its position in Newmont by 40.7% during the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock worth $4,644,000 after purchasing an additional 27,813 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Newmont during the 2nd quarter worth approximately $240,000. Cerity Partners LLC grew its position in Newmont by 108.9% during the 2nd quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock worth $7,303,000 after purchasing an additional 65,342 shares during the last quarter. Finally, NewEdge Advisors LLC grew its position in Newmont by 8.5% during the 2nd quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock worth $2,854,000 after purchasing an additional 3,856 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.
Newmont Company Profile
Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.
Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.
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