Newmont (NYSE:NEM) Downgraded by National Bank Financial to Hold

National Bank Financial lowered shares of Newmont (NYSE:NEM) from a strong-buy rating to a hold rating in a research report sent to investors on Thursday morning,Zacks.com reports.

Several other equities research analysts have also recently commented on the company. TD Securities lowered their price target on Newmont from $120.00 to $118.00 and set a “hold” rating for the company in a research note on Tuesday, March 3rd. Raymond James Financial raised their price objective on shares of Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, January 15th. Royal Bank Of Canada lifted their target price on shares of Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Canaccord Genuity Group boosted their target price on shares of Newmont from $115.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. Finally, BNP Paribas Exane increased their price target on shares of Newmont from $123.00 to $128.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average price target of $133.38.

Newmont Trading Up 2.7%

NYSE NEM opened at $116.50 on Thursday. The company has a current ratio of 2.29, a quick ratio of 2.02 and a debt-to-equity ratio of 0.16. Newmont has a 1-year low of $48.27 and a 1-year high of $134.88. The firm’s fifty day simple moving average is $115.51 and its 200-day simple moving average is $103.72. The company has a market capitalization of $125.81 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 0.87 and a beta of 0.46.

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

Newmont Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Tuesday, March 3rd were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, March 3rd. This is an increase from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. Newmont’s dividend payout ratio (DPR) is currently 16.28%.

Insider Activity at Newmont

In other Newmont news, insider David James Fry sold 18,394 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the transaction, the insider owned 17,147 shares in the company, valued at $1,911,033.15. This trade represents a 51.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Wednesday, April 1st. The shares were 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 in the company, valued at approximately $5,916,303.35. This represents a 5.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 24,394 shares of company stock worth $2,713,281. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Newmont

Hedge funds have recently bought and sold shares of the company. Certified Advisory Corp acquired a new position in shares of Newmont during the 1st quarter worth about $213,000. Total Clarity Wealth Management Inc. grew its holdings in Newmont by 6.9% in the 1st quarter. Total Clarity Wealth Management Inc. now owns 3,020 shares of the basic materials company’s stock valued at $327,000 after buying an additional 195 shares during the last quarter. Essex Bank acquired a new stake in Newmont in the 1st quarter valued at approximately $209,000. Bell Investment Advisors Inc increased its position in Newmont by 41.8% in the 1st quarter. Bell Investment Advisors Inc now owns 397 shares of the basic materials company’s stock worth $43,000 after buying an additional 117 shares during the period. Finally, Anchyra Partners LLC bought a new position in Newmont in the 1st quarter worth approximately $237,000. 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.