Analysts Set Newmont Co. (NYSE:NEM) Target Price at $51.99

Newmont Co. (NYSE:NEM) has been assigned a consensus rating of “Moderate Buy” from the fourteen analysts that are presently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $51.99.

A number of research analysts have recently issued reports on NEM shares. BMO Capital Markets reduced their price objective on shares of Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Citigroup dropped their price target on shares of Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. TD Securities dropped their price target on shares of Newmont from $40.00 to $36.00 and set a “hold” rating on the stock in a research report on Friday, February 23rd. Jefferies Financial Group started coverage on shares of Newmont in a research report on Thursday, February 29th. They set a “buy” rating and a $38.00 price target on the stock. Finally, Scotiabank dropped their price target on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th.

Hedge Funds Weigh In On Newmont

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blair William & Co. IL lifted its holdings in shares of Newmont by 14.8% in the 1st quarter. Blair William & Co. IL now owns 42,511 shares of the basic materials company’s stock worth $3,378,000 after acquiring an additional 5,484 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Newmont by 19.3% in the 1st quarter. Sei Investments Co. now owns 66,212 shares of the basic materials company’s stock worth $5,219,000 after acquiring an additional 10,692 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Newmont by 46.9% in the 1st quarter. Cetera Investment Advisers now owns 27,905 shares of the basic materials company’s stock worth $2,217,000 after acquiring an additional 8,915 shares during the last quarter. Baird Financial Group Inc. raised its holdings in Newmont by 7.2% during the 1st quarter. Baird Financial Group Inc. now owns 595,641 shares of the basic materials company’s stock valued at $47,324,000 after buying an additional 39,765 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in Newmont by 25.8% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,354 shares of the basic materials company’s stock valued at $108,000 after buying an additional 278 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Trading Down 0.8 %

NYSE:NEM opened at $38.12 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $43.94 billion, a price-to-earnings ratio of -16.01, a PEG ratio of 1.06 and a beta of 0.50. The firm has a fifty day simple moving average of $34.49 and a two-hundred day simple moving average of $36.78. Newmont has a 12 month low of $29.42 and a 12 month high of $50.18.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The company had revenue of $3.96 billion during 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%. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 earnings per share. Analysts expect that Newmont will post 1.97 EPS for the current fiscal year.

Newmont Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 5th were paid a $0.25 dividend. The ex-dividend date was Monday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.62%. Newmont’s dividend payout ratio is presently -42.02%.

About Newmont

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.