Newmont (NYSE:NEM) Trading Up 2% – Still a Buy?

Newmont Corporation (NYSE:NEM) was up 2% on Friday . The company traded as high as $109.09 and last traded at $108.9890. Approximately 7,571,208 shares traded hands during trading, a decline of 12% from the average daily volume of 8,607,819 shares. The stock had previously closed at $106.89.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. CIBC set a $112.00 price target on Newmont and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Jefferies Financial Group reissued a “buy” rating and issued a $120.00 target price on shares of Newmont in a report on Sunday, December 7th. TD Securities raised their price target on Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a report on Wednesday, October 8th. Argus raised their price target on shares of Newmont from $75.00 to $94.00 in a research report on Friday, November 21st. Finally, BNP Paribas Exane lowered Newmont from an “outperform” rating to a “neutral” rating and set a $97.00 target price for the company. in a research report on Friday, December 5th. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $97.08.

Newmont Trading Up 2.0%

The stock has a market capitalization of $118.94 billion, a PE ratio of 16.92, a PEG ratio of 0.84 and a beta of 0.41. The stock has a 50-day moving average price of $93.78 and a two-hundred day moving average price of $80.23. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04.

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 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 business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same period in the prior year, the business posted $0.81 earnings per share. The company’s revenue was up 20.0% on a year-over-year basis. As a group, equities analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

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

Insider Activity

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 279,923 shares in the company, valued at $22,768,936.82. This represents a 1.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the sale, the director owned 32,709 shares in the company, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,160 shares of company stock valued at $767,206 in the last quarter. 0.05% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Constitution Capital LLC bought a new stake in Newmont in the fourth quarter worth $534,000. Capital Asset Advisory Services LLC lifted its position in Newmont by 7.0% during the fourth quarter. Capital Asset Advisory Services LLC now owns 2,703 shares of the basic materials company’s stock valued at $295,000 after purchasing an additional 178 shares during the last quarter. Somerset Trust Co grew its stake in shares of Newmont by 5.3% in the 4th quarter. Somerset Trust Co now owns 6,468 shares of the basic materials company’s stock worth $646,000 after buying an additional 326 shares in the last quarter. Clear Trail Advisors LLC bought a new stake in shares of Newmont in the 4th quarter worth about $275,000. Finally, SG Americas Securities LLC raised its position in shares of Newmont by 790.7% during the 4th quarter. SG Americas Securities LLC now owns 827,144 shares of the basic materials company’s stock valued at $82,590,000 after buying an additional 734,275 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

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.