Newmont (NYSE:NEM) Shares Up 2.3% – Still a Buy?

Newmont Corporation (NYSE:NEM) was up 2.3% on Monday . The company traded as high as $105.86 and last traded at $103.5050. Approximately 8,811,661 shares were traded during trading, an increase of 12% from the average daily volume of 7,869,992 shares. The stock had previously closed at $101.22.

Analyst Upgrades and Downgrades

NEM has been the topic of a number of research reports. Argus upped their price objective on Newmont from $75.00 to $94.00 in a report on Friday, November 21st. BNP Paribas downgraded shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price target on the stock. in a research note on Friday, December 5th. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $71.50 to $114.00 in a report on Thursday, October 23rd. Royal Bank Of Canada raised their target price on shares of Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Finally, National Bankshares boosted their price target on Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Newmont presently has an average rating of “Buy” and an average target price of $97.08.

Newmont Stock Performance

The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. The company has a market cap of $112.95 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 0.61 and a beta of 0.41. The company has a 50 day moving average price of $91.62 and a 200-day moving average price of $79.17.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.27 by $0.44. The firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The business’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 earnings per share. On average, equities analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Wednesday, November 26th were issued a $0.25 dividend. The ex-dividend date was Wednesday, November 26th. This represents a $1.00 annualized dividend and a yield of 1.0%. Newmont’s dividend payout ratio is presently 15.53%.

Insider Activity at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the transaction, the chief executive officer owned 279,923 shares in the company, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the transaction, the director owned 32,709 shares of the company’s stock, valued at $3,021,003.24. This trade represents a 5.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 9,160 shares of company stock valued at $767,206. Insiders own 0.05% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Colonial Trust Advisors increased its holdings in Newmont by 20.8% during the third quarter. Colonial Trust Advisors now owns 684 shares of the basic materials company’s stock worth $58,000 after buying an additional 118 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Newmont by 53.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 139 shares during the last quarter. HHM Wealth Advisors LLC raised its holdings in shares of Newmont by 26.4% in the 3rd quarter. HHM Wealth Advisors LLC now owns 670 shares of the basic materials company’s stock worth $56,000 after purchasing an additional 140 shares during the period. Fielder Capital Group LLC lifted its stake in Newmont by 1.7% in the third quarter. Fielder Capital Group LLC now owns 8,390 shares of the basic materials company’s stock valued at $707,000 after purchasing an additional 141 shares during the last quarter. Finally, Summit Financial Wealth Advisors LLC grew its holdings in Newmont by 2.3% during the third quarter. Summit Financial Wealth Advisors LLC now owns 6,584 shares of the basic materials company’s stock valued at $566,000 after purchasing an additional 145 shares during the period. 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.