Newmont (NYSE:NEM) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Newmont (NYSE:NEM) from a hold rating to a strong-buy rating in a research report report published on Monday,Zacks.com reports.

A number of other research analysts also recently weighed in on NEM. TD Cowen reiterated a “buy” rating on shares of Newmont in a research report on Monday, April 27th. Wall Street Zen downgraded shares of Newmont from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 30th. Canaccord Genuity Group upped their price objective on shares of Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Barclays initiated coverage on shares of Newmont in a research report on Thursday, May 21st. They issued an “overweight” rating and a $133.00 price objective for the company. Finally, TD upped their price target on shares of Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $141.79.

Newmont Trading Up 2.5%

NYSE NEM opened at $108.46 on Monday. The company has a market capitalization of $115.79 billion, a PE ratio of 14.07, a P/E/G ratio of 1.75 and a beta of 0.42. The company has a fifty day moving average of $110.66 and a 200 day moving average of $110.41. Newmont has a 1 year low of $55.37 and a 1 year high of $134.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. The company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The firm’s quarterly revenue was up 45.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.25 earnings per share. Research analysts forecast that Newmont will post 9.91 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s dividend payout ratio is currently 13.49%.

Insider Buying and Selling at Newmont

In related news, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $408,852.24. Following the completion of the sale, the chief executive officer owned 142,999 shares of the company’s stock, valued at approximately $15,060,654.68. This represents a 2.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $315,960.00. Following the sale, the executive vice president directly owned 46,315 shares of the company’s stock, valued at approximately $4,877,895.80. This represents a 6.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,556 shares of company stock worth $3,120,276 in the last 90 days. 0.06% of the stock is currently owned by insiders.

Institutional Trading of Newmont

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Apella Capital LLC increased its holdings in shares of Newmont by 4.1% during the 4th quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock worth $219,000 after buying an additional 86 shares during the last quarter. New Wave Wealth Advisors LLC increased its holdings in shares of Newmont by 1.3% during the 4th quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock worth $684,000 after buying an additional 88 shares during the last quarter. Novem Group increased its holdings in shares of Newmont by 3.7% during the 4th quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock worth $248,000 after buying an additional 88 shares during the last quarter. Norden Group LLC increased its holdings in shares of Newmont by 0.7% during the 4th quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock worth $1,235,000 after buying an additional 90 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Newmont by 1.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock worth $714,000 after buying an additional 96 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont News Roundup

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont announced key executive appointments, naming veteran insiders to the CFO, COO, and CTO roles starting July 1. Investors often view management continuity and promoting experienced leaders as a sign of operational stability and smoother execution. Newmont Announces Key Executive Appointments for the Next Phase of Delivery
• Positive Sentiment: Several recent commentaries highlighted Newmont as a value idea and a Zacks Rank #1 stock, which can boost investor interest and reinforce the bullish case for the shares. Best Value Stocks to Buy for June 16th
• Positive Sentiment: Gold-price optimism is helping sentiment around Newmont, with reports suggesting the recent gold pullback may be more of a reset than a trend reversal. As one of the largest gold miners, Newmont tends to benefit when investors expect gold to rebound. Gold’s Correction Looks More Like a Reset. Newmont and These 4 Stocks Are Buys.
• Neutral Sentiment: Analyst and media coverage continues to keep Newmont in focus, including pieces on whether the stock remains attractive versus peers like Agnico Eagle Mines. This keeps attention high, but does not by itself change fundamentals. NEM or AEM: Which Is the Better Value Stock Right Now?
• Negative Sentiment: One note of caution is that Macquarie trimmed its price target on Newmont, even while keeping an outperform rating. That kind of revision can temper enthusiasm if investors worry about near-term upside. Macquarie adjusts price target on Newmont

About Newmont

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.