Newmont (NYSE:NEM) Sets New 12-Month High – Should You Buy?

Newmont Corporation (NYSE:NEM) hit a new 52-week high during trading on Thursday . The company traded as high as $99.21 and last traded at $99.3480, with a volume of 4596070 shares trading hands. The stock had previously closed at $94.40.

Analyst Ratings Changes

Several analysts have issued reports on the stock. CIBC set a $112.00 price target on shares of Newmont and gave the company an “outperformer” rating in a report on Friday, October 10th. National Bankshares upped their target price on Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday. UBS Group raised their price target on Newmont from $105.50 to $125.00 and gave the stock a “buy” rating in a research report on Monday, December 1st. The Goldman Sachs Group set a $104.30 price objective on Newmont and gave the company a “buy” rating in a research report on Sunday, October 12th. Finally, Wall Street Zen cut Newmont from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 2nd. Five research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $96.37.

Newmont Price Performance

The company has a 50-day moving average of $87.37 and a two-hundred day moving average of $73.46. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The stock has a market capitalization of $108.45 billion, a PE ratio of 15.43, a P/E/G ratio of 0.65 and a beta of 0.41.

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

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is 15.53%.

Insiders Place Their Bets

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the transaction, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the sale, the director directly owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 11,240 shares of company stock valued at $943,985. Insiders own 0.05% of the company’s stock.

Institutional Trading of Newmont

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Brighton Jones LLC increased its position in shares of Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after acquiring an additional 1,847 shares in the last quarter. Townsquare Capital LLC boosted its position in Newmont by 54.5% during the 1st quarter. Townsquare Capital LLC now owns 47,289 shares of the basic materials company’s stock worth $2,283,000 after purchasing an additional 16,676 shares during the period. Zions Bancorporation National Association UT acquired a new stake in Newmont in the 1st quarter valued at $50,000. Benjamin Edwards Inc. purchased a new position in Newmont in the first quarter valued at about $535,000. Finally, SouthState Corp acquired a new position in shares of Newmont during the first quarter worth about $93,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

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.