Newmont Corporation (NYSE:NEM) Receives $133.78 Consensus Target Price from Analysts

Shares of Newmont Corporation (NYSE:NEM) have been given an average recommendation of “Moderate Buy” by the twenty-two brokerages that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $133.9053.

NEM has been the topic of a number of research reports. Canaccord Genuity Group raised their target price on shares of Newmont from $115.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. BNP Paribas Exane raised their target price on shares of Newmont from $123.00 to $128.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Jefferies Financial Group raised their target price on shares of Newmont from $162.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday. Stifel Nicolaus lifted their price target on shares of Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Finally, Wall Street Zen lowered shares of Newmont from a “buy” rating to a “hold” rating in a research report on Saturday, April 4th.

Newmont Trading Down 3.6%

NEM opened at $116.58 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.02. The company’s 50 day simple moving average is $115.42 and its two-hundred day simple moving average is $103.13. Newmont has a 1-year low of $48.27 and a 1-year high of $134.88. The firm has a market capitalization of $125.90 billion, a price-to-earnings ratio of 18.24, a price-to-earnings-growth ratio of 0.92 and a beta of 0.46.

Newmont (NYSE:NEM) last released its earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.71. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The business had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.18 billion. During the same period last year, the company posted $1.40 EPS. The business’s revenue was up 20.6% on a year-over-year basis. Analysts expect that Newmont will post 3.45 EPS for the current fiscal year.

Newmont Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Tuesday, March 3rd were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, March 3rd. This is a boost from Newmont’s previous quarterly dividend of $0.25. Newmont’s dividend payout ratio is presently 16.28%.

Insider Activity at Newmont

In other news, insider David James Fry sold 18,394 shares of Newmont stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the sale, the insider owned 17,147 shares of the company’s stock, valued at approximately $1,911,033.15. The trade was a 51.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $113.09, for a total transaction of $339,270.00. Following the sale, the executive vice president directly owned 52,315 shares in the company, valued at approximately $5,916,303.35. The trade was a 5.42% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 24,394 shares of company stock worth $2,713,281. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Newmont

Several institutional investors have recently made changes to their positions in NEM. GoalVest Advisory LLC purchased a new stake in Newmont in the fourth quarter valued at approximately $25,000. Physician Wealth Advisors Inc. raised its position in Newmont by 327.8% in the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 236 shares during the period. Swiss RE Ltd. purchased a new stake in Newmont in the fourth quarter valued at approximately $26,000. Cornerstone Planning Group LLC raised its position in Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 206 shares during the period. Finally, JPL Wealth Management LLC purchased a new stake in Newmont in the third quarter valued at approximately $27,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

About Newmont

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.