Newmont (NYSE:NEM) Rating Lowered to Hold at National Bank Financial

Newmont (NYSE:NEM) was downgraded by stock analysts at National Bank Financial from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

NEM has been the subject of several other reports. Bank of America upped their price objective on Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Scotiabank reduced their price objective on Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a research report on Friday, March 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Newmont in a research report on Monday, December 29th. Canaccord Genuity Group raised their price objective on Newmont from $115.00 to $140.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Finally, The Goldman Sachs Group raised their price objective on Newmont from $122.30 to $123.20 and gave the company a “buy” rating in a report on Thursday, April 9th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $133.38.

Newmont Stock Up 2.7%

NEM stock opened at $116.50 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.02. The stock has a market capitalization of $125.81 billion, a P/E ratio of 18.23, a P/E/G ratio of 0.87 and a beta of 0.46. The business has a 50-day moving average of $115.51 and a 200-day moving average of $103.72. Newmont has a fifty-two week low of $48.27 and a fifty-two week high of $134.88.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, February 19th. The basic materials company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.71. The company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.18 billion. Newmont had a return on equity of 23.28% and a net margin of 31.25%.Newmont’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.40 earnings per share. On average, sell-side analysts anticipate that Newmont will post 3.45 earnings per share for the current fiscal year.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $113.09, for a total transaction of $339,270.00. Following the completion of the transaction, the executive vice president directly owned 52,315 shares of the company’s stock, valued at approximately $5,916,303.35. This represents a 5.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David James Fry sold 18,394 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the transaction, the insider directly owned 17,147 shares of the company’s stock, valued at $1,911,033.15. This trade represents a 51.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,394 shares of company stock valued at $2,713,281 over the last three months. Insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. GoalVest Advisory LLC acquired a new position in Newmont during the fourth quarter valued at approximately $25,000. Physician Wealth Advisors Inc. lifted its position in shares of Newmont by 327.8% in the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after buying an additional 236 shares during the last quarter. Swiss RE Ltd. acquired a new stake in shares of Newmont in the fourth quarter valued at approximately $26,000. Cornerstone Planning Group LLC lifted its position in shares of Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after buying an additional 206 shares during the last quarter. Finally, JPL Wealth Management LLC acquired a new stake in shares of Newmont in the third quarter valued at approximately $27,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Company Profile

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.