Newmont (NYSE:NEM) Downgraded to “Sector Perform Overweight” at National Bank Financial

Newmont (NYSE:NEM) was downgraded by stock analysts at National Bank Financial from an “outperform overweight” rating to a “sector perform overweight” rating in a research note issued to investors on Tuesday, Zacks.com reports.

A number of other analysts have also issued reports on NEM. TD Securities increased their target price on Newmont from $43.00 to $48.00 and gave the company a “hold” rating in a report on Friday, April 26th. BMO Capital Markets reduced their price objective on Newmont from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Jefferies Financial Group initiated coverage on Newmont in a research note on Thursday, February 29th. They set a “buy” rating and a $38.00 target price on the stock. StockNews.com upgraded Newmont from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Finally, Argus cut shares of Newmont from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.75.

Newmont Trading Down 0.1 %

Shares of NYSE:NEM opened at $40.58 on Tuesday. Newmont has a twelve month low of $29.42 and a twelve month high of $50.18. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32. The firm has a market cap of $46.79 billion, a P/E ratio of -15.20, a P/E/G ratio of 1.04 and a beta of 0.48. The company has a 50 day moving average of $36.00 and a 200-day moving average of $36.99.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Moloney Securities Asset Management LLC raised its stake in shares of Newmont by 167.7% in the first quarter. Moloney Securities Asset Management LLC now owns 18,318 shares of the basic materials company’s stock worth $656,000 after acquiring an additional 11,476 shares during the last quarter. Hollencrest Capital Management raised its position in Newmont by 19.7% in the 1st quarter. Hollencrest Capital Management now owns 54,748 shares of the basic materials company’s stock worth $1,962,000 after purchasing an additional 9,000 shares during the last quarter. Hussman Strategic Advisors Inc. lifted its holdings in Newmont by 12.5% during the 1st quarter. Hussman Strategic Advisors Inc. now owns 229,500 shares of the basic materials company’s stock worth $8,225,000 after buying an additional 25,500 shares in the last quarter. Schulhoff & Co. Inc. boosted its position in Newmont by 20.3% in the 1st quarter. Schulhoff & Co. Inc. now owns 11,850 shares of the basic materials company’s stock valued at $425,000 after buying an additional 2,000 shares during the last quarter. Finally, Pullen Investment Management LLC acquired a new stake in shares of Newmont in the 1st quarter valued at $1,463,000. 68.85% of the stock is owned by institutional investors.

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.