Newmont (NYSE:NEM) Trading Up 3.5% – Time to Buy?

Newmont Co. (NYSE:NEM) shares traded up 3.5% on Thursday . The company traded as high as $45.30 and last traded at $45.16. 898,489 shares changed hands during trading, a decline of 91% from the average session volume of 9,566,776 shares. The stock had previously closed at $43.63.

Analysts Set New Price Targets

A number of analysts have commented on NEM shares. Royal Bank of Canada lifted their target price on shares of Newmont from $47.00 to $52.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. The Goldman Sachs Group assumed coverage on Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective for the company. Raymond James cut their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. CLSA started coverage on Newmont in a research report on Friday, November 29th. They set an “underperform” rating for the company. Finally, JPMorgan Chase & Co. upgraded shares of Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Newmont presently has an average rating of “Moderate Buy” and an average price target of $53.16.

Newmont Stock Performance

The company has a market capitalization of $51.30 billion, a PE ratio of 15.59, a PEG ratio of 0.41 and a beta of 0.54. The firm’s 50-day simple moving average is $42.89 and its 200-day simple moving average is $45.85. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. On average, research analysts predict that Newmont Co. will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.20%. Newmont’s payout ratio is currently 34.13%.

Insider Buying and Selling

In other news, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the sale, the chief operating officer now owns 145,967 shares in the company, valued at approximately $5,838,680. The trade was a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now owns 82,596 shares in the company, valued at approximately $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,231 shares of company stock valued at $1,388,758 over the last three months. 0.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Avior Wealth Management LLC boosted its holdings in shares of Newmont by 191.8% in the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after buying an additional 326 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in Newmont during the third quarter valued at approximately $28,000. HHM Wealth Advisors LLC boosted its stake in Newmont by 66.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 350 shares in the last quarter. Redwood Park Advisors LLC acquired a new stake in Newmont in the fourth quarter valued at approximately $37,000. Finally, Promus Capital LLC purchased a new position in Newmont in the fourth quarter worth $38,000. 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.