Newmont (NYSE:NEM) Shares Gap Up to $35.84

Newmont Co. (NYSE:NEMGet Free Report)’s share price gapped up before the market opened on Monday . The stock had previously closed at $35.84, but opened at $36.96. Newmont shares last traded at $36.36, with a volume of 2,073,607 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada decreased their price objective on shares of Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 8th. TD Securities decreased their price objective on shares of Newmont from $40.00 to $36.00 and set a “hold” rating for the company in a research report on Friday, February 23rd. Scotiabank decreased their price objective on shares of Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. UBS Group decreased their price objective on shares of Newmont from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, December 13th. Finally, StockNews.com cut shares of Newmont from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Newmont has a consensus rating of “Hold” and a consensus price target of $52.97.

Get Our Latest Report on NEM

Newmont Trading Up 1.0 %

The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average price is $33.60 and its 200-day moving average price is $36.86.

Newmont (NYSE:NEMGet Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.01). Newmont had a negative net margin of 20.95% and a positive return on equity of 6.21%. The business had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.44 billion. During the same period last year, the company earned $0.44 EPS. The firm’s revenue for the quarter was up 23.7% on a year-over-year basis. Equities analysts anticipate that Newmont Co. will post 1.88 earnings per share for the current fiscal year.

Newmont Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 5th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend was Monday, March 4th. Newmont’s dividend payout ratio (DPR) is presently -42.02%.

Institutional Trading of Newmont

Institutional investors and hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue lifted its holdings in shares of Newmont by 27.5% in the fourth quarter. State of Alaska Department of Revenue now owns 170,138 shares of the basic materials company’s stock valued at $7,041,000 after purchasing an additional 36,645 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Newmont by 22.3% during the third quarter. Janney Montgomery Scott LLC now owns 145,639 shares of the basic materials company’s stock valued at $5,382,000 after buying an additional 26,599 shares during the period. SG Americas Securities LLC lifted its stake in shares of Newmont by 1,770.8% during the fourth quarter. SG Americas Securities LLC now owns 63,664 shares of the basic materials company’s stock valued at $2,635,000 after buying an additional 60,261 shares during the period. Muhlenkamp & Co. Inc. purchased a new position in shares of Newmont during the fourth quarter valued at approximately $5,944,000. Finally, Pacer Advisors Inc. lifted its stake in shares of Newmont by 70.5% during the fourth quarter. Pacer Advisors Inc. now owns 85,401 shares of the basic materials company’s stock valued at $3,535,000 after buying an additional 35,303 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Company Profile

(Get Free Report)

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.

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