Newmont (NYSE:NEM) Shares Up 1.4% – What’s Next?

Newmont Corporation (NYSE:NEM) shares rose 1.4% on Tuesday . The stock traded as high as $115.01 and last traded at $114.57. Approximately 7,916,411 shares changed hands during mid-day trading, a decline of 7% from the average daily volume of 8,492,071 shares. The stock had previously closed at $112.96.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Citigroup restated a “buy” rating on shares of Newmont in a report on Monday. Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $71.50 to $114.00 in a research report on Thursday, October 23rd. Zacks Research downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Finally, CIBC set a $112.00 price target on shares of Newmont and gave the company an “outperformer” rating in a research note on Friday, October 10th. Five analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $97.08.

Newmont Trading Up 1.4%

The firm’s 50-day simple moving average is $94.97 and its 200 day simple moving average is $81.26. The firm has a market cap of $125.03 billion, a P/E ratio of 17.79, a price-to-earnings-growth ratio of 0.80 and a beta of 0.41. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.44. The company had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.81 EPS. As a group, analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Wednesday, November 26th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, November 26th. Newmont’s dividend payout ratio is 15.53%.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the transaction, the director owned 32,709 shares of the company’s stock, valued at $3,021,003.24. This represents a 5.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the transaction, the chief executive officer directly owned 279,923 shares in the company, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 9,160 shares of company stock worth $767,206. Insiders own 0.05% of the company’s stock.

Hedge Funds Weigh In On Newmont

Large investors have recently added to or reduced their stakes in the business. GoalVest Advisory LLC purchased a new stake in Newmont in the 4th quarter worth approximately $25,000. Rosenberg Matthew Hamilton lifted its stake in Newmont by 308.0% in the fourth quarter. Rosenberg Matthew Hamilton now owns 306 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 231 shares during the period. Physician Wealth Advisors Inc. lifted its stake in Newmont by 327.8% in the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 236 shares during the period. PMV Capital Advisers LLC bought a new stake in Newmont in the fourth quarter valued at $32,000. Finally, JPL Wealth Management LLC purchased a new position in Newmont during the 3rd quarter valued at $27,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

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.