Newmont (NYSE:NEM) PT Raised to $54.00 at Credit Suisse Group

Newmont (NYSE:NEMGet Rating) had its price objective upped by Credit Suisse Group to $54.00 in a report published on Monday morning, Stock Target Advisor reports.

A number of other equities research analysts have also recently commented on NEM. Canaccord Genuity Group raised shares of Newmont from a hold rating to a buy rating and lowered their price objective for the company from $66.00 to $60.00 in a research note on Wednesday, July 27th. Barclays decreased their price target on shares of Newmont from $55.00 to $54.00 and set an equal weight rating on the stock in a research note on Monday. The Goldman Sachs Group began coverage on shares of Newmont in a research note on Monday, September 12th. They set a buy rating and a $53.00 price target on the stock. TD Securities decreased their price target on shares of Newmont from $49.00 to $47.00 and set a hold rating on the stock in a research note on Wednesday, November 2nd. Finally, Eight Capital decreased their price target on shares of Newmont to $58.00 in a research note on Thursday, October 27th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $63.33.

Newmont Stock Performance

NYSE:NEM opened at $45.00 on Monday. The company has a quick ratio of 2.29, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Newmont has a fifty-two week low of $37.45 and a fifty-two week high of $86.37. The stock has a market cap of $35.72 billion, a PE ratio of 35.71 and a beta of 0.25. The firm’s fifty day simple moving average is $42.75 and its 200-day simple moving average is $51.28.

Newmont (NYSE:NEMGet Rating) last issued its quarterly earnings data on Tuesday, November 1st. The basic materials company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.02). The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.79 billion. Newmont had a net margin of 8.28% and a return on equity of 8.07%. Analysts expect that Newmont will post 1.89 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 8th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date is Wednesday, December 7th. Newmont’s dividend payout ratio is presently 174.60%.

Insider Buying and Selling at Newmont

In other news, insider Mark Casper sold 4,890 shares of the stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $41.98, for a total transaction of $205,282.20. Following the sale, the insider now owns 18,217 shares in the company, valued at $764,749.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Mark Casper sold 4,890 shares of the company’s stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $41.98, for a total transaction of $205,282.20. Following the transaction, the insider now owns 18,217 shares of the company’s stock, valued at $764,749.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert D. Atkinson sold 3,000 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $42.71, for a total value of $128,130.00. Following the completion of the transaction, the chief operating officer now directly owns 42,947 shares in the company, valued at approximately $1,834,266.37. The disclosure for this sale can be found here. Insiders have sold 32,890 shares of company stock worth $1,405,502 over the last three months. Company insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On Newmont

Several large investors have recently modified their holdings of NEM. GQG Partners LLC increased its holdings in shares of Newmont by 182.0% in the first quarter. GQG Partners LLC now owns 32,070,891 shares of the basic materials company’s stock worth $2,547,688,000 after acquiring an additional 20,699,677 shares in the last quarter. FMR LLC grew its holdings in shares of Newmont by 16.6% during the second quarter. FMR LLC now owns 26,859,545 shares of the basic materials company’s stock worth $1,602,709,000 after buying an additional 3,819,167 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Newmont by 66.2% during the third quarter. Neuberger Berman Group LLC now owns 6,532,751 shares of the basic materials company’s stock worth $274,555,000 after buying an additional 2,602,396 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Newmont by 103.3% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,489,270 shares of the basic materials company’s stock worth $356,749,000 after buying an additional 2,281,418 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Newmont by 1,075.2% during the third quarter. Marshall Wace LLP now owns 2,488,836 shares of the basic materials company’s stock worth $104,604,000 after buying an additional 2,277,063 shares in the last quarter. 81.11% of the stock is currently owned by institutional investors.

About Newmont

(Get Rating)

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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

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Analyst Recommendations for Newmont (NYSE:NEM)

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