Newmont (NYSE:NEM) Stock Rating Upgraded by StockNews.com

Newmont (NYSE:NEM) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.

A number of other brokerages have also recently commented on NEM. Scotiabank dropped their price target on Newmont from $50.00 to $43.50 and set a “sector perform” rating on the stock in a research report on Wednesday, February 28th. Jefferies Financial Group began coverage on Newmont in a report on Thursday, February 29th. They set a “buy” rating and a $38.00 price objective on the stock. Argus cut Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Citigroup lowered their price target on Newmont from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. Finally, BMO Capital Markets lowered their price target on Newmont from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.75.

Newmont Stock Down 1.6 %

Shares of NYSE NEM opened at $42.73 on Friday. Newmont has a one year low of $29.42 and a one year high of $50.18. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.15 and a quick ratio of 0.98. The business’s fifty day moving average price is $35.54 and its 200-day moving average price is $36.94. The stock has a market capitalization of $49.26 billion, a PE ratio of -16.00, a P/E/G ratio of 1.11 and a beta of 0.50.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.20. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the prior year, the firm earned $0.40 EPS. The business’s revenue for the quarter was up 50.2% compared to the same quarter last year. On average, equities research analysts anticipate that Newmont will post 2.16 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NEM. Vanguard Group Inc. increased its holdings in shares of Newmont by 43.8% in the 4th quarter. Vanguard Group Inc. now owns 118,749,923 shares of the basic materials company’s stock worth $4,915,059,000 after purchasing an additional 36,170,995 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Newmont by 57.2% in the 4th quarter. Van ECK Associates Corp now owns 51,290,469 shares of the basic materials company’s stock worth $2,122,913,000 after purchasing an additional 18,664,614 shares in the last quarter. Norges Bank bought a new stake in shares of Newmont in the 4th quarter worth $604,516,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Newmont by 44.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,639,109 shares of the basic materials company’s stock worth $1,019,813,000 after purchasing an additional 7,635,657 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Newmont by 39.8% in the 1st quarter. Bank of New York Mellon Corp now owns 23,224,150 shares of the basic materials company’s stock worth $832,354,000 after purchasing an additional 6,617,145 shares in the last quarter. Hedge funds and other institutional investors 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.