Newmont (NYSE:NEM) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Newmont (NYSE:NEM) from a hold rating to a buy rating in a research note released on Friday.

NEM has been the subject of a number of other reports. Scotiabank reissued a “sector perform” rating on shares of Newmont in a research report on Monday, April 14th. Royal Bank of Canada increased their price objective on Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a report on Friday, April 4th. National Bankshares restated a “sector perform” rating on shares of Newmont in a research report on Wednesday, April 23rd. Cfra Research raised shares of Newmont to a “strong-buy” rating in a report on Friday, April 25th. Finally, TD Securities decreased their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.52.

Newmont Stock Up 0.3%

NEM stock opened at $52.67 on Friday. The company’s 50 day moving average is $51.51 and its two-hundred day moving average is $45.53. Newmont has a twelve month low of $36.86 and a twelve month high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock has a market cap of $58.62 billion, a P/E ratio of 17.98, a PEG ratio of 0.41 and a beta of 0.31.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.71 by $0.54. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period last year, the business earned $0.55 EPS. Research analysts expect that Newmont will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Tuesday, May 27th. Newmont’s dividend payout ratio is presently 22.42%.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $131,130.00. Following the completion of the transaction, the executive vice president now directly owns 86,526 shares of the company’s stock, valued at approximately $3,782,051.46. This trade represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $90,785.67. Following the transaction, the director now directly owns 47,916 shares of the company’s stock, valued at approximately $2,094,408.36. This represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,154 shares of company stock worth $328,840. 0.05% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Newmont

Institutional investors and hedge funds have recently made changes to their positions in the business. SOA Wealth Advisors LLC. lifted its holdings in shares of Newmont by 64.0% in the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 201 shares in the last quarter. Cloud Capital Management LLC acquired a new position in shares of Newmont during the 1st quarter worth approximately $26,000. Colonial Trust Advisors lifted its stake in Newmont by 315.4% in the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock valued at $27,000 after buying an additional 429 shares in the last quarter. Private Trust Co. NA lifted its stake in Newmont by 122.6% in the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock valued at $30,000 after buying an additional 347 shares in the last quarter. Finally, Nexus Investment Management ULC acquired a new stake in Newmont during the 1st quarter valued at $31,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

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.