Newmont’s (NEM) “Outperform Overweight” Rating Reiterated at National Bank Financial

Newmont (NYSE:NEM)‘s stock had its “outperform overweight” rating reissued by research analysts at National Bank Financial in a research note issued on Monday, Zacks.com reports.

NEM has been the topic of several other research reports. UBS Group lowered their price objective on shares of Newmont from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 13th. StockNews.com lowered shares of Newmont from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. BMO Capital Markets cut their price objective on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. Royal Bank of Canada decreased their target price on Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 8th. Finally, TD Securities cut their price target on Newmont from $40.00 to $36.00 and set a “hold” rating for the company in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Newmont presently has an average rating of “Hold” and a consensus target price of $51.97.

Newmont Trading Up 0.0 %

NYSE:NEM opened at $39.08 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 1.25. The company has a market capitalization of $45.05 billion, a P/E ratio of -16.42, a P/E/G ratio of 1.05 and a beta of 0.50. Newmont has a 52 week low of $29.42 and a 52 week high of $51.46. The stock’s 50 day moving average price is $34.22 and its 200 day moving average price is $36.80.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.01). The business had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.44 billion. Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. Newmont’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 EPS. On average, research analysts forecast that Newmont will post 2.01 EPS for the current fiscal year.

Institutional Trading of Newmont

Hedge funds have recently modified their holdings of the company. Crestmont Private Wealth LLC boosted its holdings in shares of Newmont by 4.9% in the 1st quarter. Crestmont Private Wealth LLC now owns 6,852 shares of the basic materials company’s stock worth $246,000 after acquiring an additional 319 shares in the last quarter. International Assets Investment Management LLC raised its position in Newmont by 4.7% in the 1st quarter. International Assets Investment Management LLC now owns 15,474 shares of the basic materials company’s stock valued at $564,000 after purchasing an additional 688 shares during the last quarter. City State Bank boosted its stake in Newmont by 1,176.5% in the first quarter. City State Bank now owns 2,170 shares of the basic materials company’s stock worth $78,000 after purchasing an additional 2,000 shares in the last quarter. Foundation Resource Management Inc. grew its holdings in shares of Newmont by 4.0% during the first quarter. Foundation Resource Management Inc. now owns 709,449 shares of the basic materials company’s stock worth $25,427,000 after purchasing an additional 27,392 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its stake in shares of Newmont by 0.3% in the first quarter. Gulf International Bank UK Ltd now owns 98,992 shares of the basic materials company’s stock valued at $3,547,000 after buying an additional 338 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Company Profile

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.