Newmont Co. (NYSE:NEM) Receives Average Rating of “Moderate Buy” from Analysts

Newmont Co. (NYSE:NEM) has been given an average rating of “Moderate Buy” by the fourteen analysts that are currently covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $51.99.

A number of analysts have weighed in on the company. Jefferies Financial Group began coverage on Newmont in a research report on Thursday, February 29th. They issued a “buy” rating and a $38.00 price target on the stock. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Newmont in a report on Monday, April 8th. Scotiabank cut their price target on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Royal Bank of Canada decreased their price objective on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 8th. Finally, Citigroup cut their target price on shares of Newmont from $60.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, April 4th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Blair William & Co. IL boosted its stake in Newmont by 14.8% in the first quarter. Blair William & Co. IL now owns 42,511 shares of the basic materials company’s stock valued at $3,378,000 after acquiring an additional 5,484 shares during the last quarter. Sei Investments Co. boosted its position 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 purchasing an additional 10,692 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Newmont by 46.9% during the first quarter. Cetera Investment Advisers now owns 27,905 shares of the basic materials company’s stock worth $2,217,000 after purchasing an additional 8,915 shares during the period. Baird Financial Group Inc. increased its holdings in Newmont by 7.2% in the first quarter. Baird Financial Group Inc. now owns 595,641 shares of the basic materials company’s stock valued at $47,324,000 after purchasing an additional 39,765 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in Newmont by 25.8% in the first 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 period. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of Newmont stock opened at $38.55 on Friday. Newmont has a twelve month low of $29.42 and a twelve month high of $50.18. 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 firm has a market cap of $44.44 billion, a P/E ratio of -16.20, a price-to-earnings-growth ratio of 1.02 and a beta of 0.50. The firm’s 50-day simple moving average is $34.70 and its 200-day simple moving average is $36.81.

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

Newmont Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 5th were given 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 2.59%. Newmont’s payout ratio is -42.02%.

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.