Newmont (NYSE:NEM) Price Target Raised to $52.00 at Royal Bank of Canada

Newmont (NYSE:NEM) had its price target increased by Royal Bank of Canada from $51.00 to $52.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a sector perform rating on the basic materials company’s stock.

A number of other equities analysts have also recently issued reports on the stock. Scotiabank dropped their price target on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. National Bank Financial upgraded shares of Newmont to a “hold” rating in a report on Friday, March 21st. TD Securities decreased their price objective on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, February 26th. StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Finally, The Goldman Sachs Group started coverage on Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $54.09.

Newmont Stock Performance

Shares of NEM stock opened at $44.25 on Friday. The company’s fifty day moving average price is $45.34 and its 200-day moving average price is $45.33. The stock has a market cap of $49.88 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54. 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 has a 12 month low of $36.60 and a 12 month high of $58.72.

Newmont (NYSE:NEM) last released its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 17.92% and a return on equity of 13.52%. On average, equities analysts expect that Newmont will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont’s dividend payout ratio is presently 34.13%.

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the sale, the director now owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. The trade was a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,596 shares in the company, valued at $3,303,840. This trade represents a 3.50 % decrease in their position. 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 in the last 90 days. Company insiders own 0.05% of the company’s stock.

Hedge Funds Weigh In On Newmont

A number of hedge funds have recently modified their holdings of the company. Farmers Trust Co. lifted its stake in shares of Newmont by 10.0% during the 1st quarter. Farmers Trust Co. now owns 124,934 shares of the basic materials company’s stock valued at $6,032,000 after buying an additional 11,327 shares in the last quarter. Moody National Bank Trust Division boosted its stake in shares of Newmont by 18.5% in the first quarter. Moody National Bank Trust Division now owns 26,154 shares of the basic materials company’s stock worth $1,263,000 after acquiring an additional 4,075 shares during the period. Versant Capital Management Inc grew its position in shares of Newmont by 132.4% during the first quarter. Versant Capital Management Inc now owns 2,384 shares of the basic materials company’s stock worth $115,000 after purchasing an additional 1,358 shares in the last quarter. Central Pacific Bank Trust Division raised its stake in Newmont by 51.5% during the 1st quarter. Central Pacific Bank Trust Division now owns 7,573 shares of the basic materials company’s stock valued at $366,000 after purchasing an additional 2,573 shares during the period. Finally, Confluence Investment Management LLC lifted its holdings in Newmont by 9.7% in the 1st quarter. Confluence Investment Management LLC now owns 12,935 shares of the basic materials company’s stock worth $624,000 after purchasing an additional 1,147 shares in the last quarter. 68.85% of the stock is currently owned by 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.