Newmont (NYSE:NEM) Hits New 12-Month High – What’s Next?

Shares of Newmont Corporation (NYSE:NEM) hit a new 52-week high on Tuesday . The company traded as high as $107.37 and last traded at $107.0290, with a volume of 1550663 shares changing hands. The stock had previously closed at $103.53.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Royal Bank Of Canada increased their price objective on shares of Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. The Goldman Sachs Group set a $104.30 price target on shares of Newmont and gave the company a “buy” rating in a research report on Sunday, October 12th. BNP Paribas cut shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price objective for the company. in a research note on Friday, December 5th. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Finally, National Bankshares raised their price target on Newmont from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $97.08.

Newmont Trading Up 5.3%

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 firm has a market cap of $119.00 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 0.61 and a beta of 0.41. The business’s 50-day moving average price is $92.12 and its two-hundred day moving average price is $79.48.

Newmont (NYSE:NEM) last released its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.27 by $0.44. The firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. Newmont’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.81 EPS. Equities analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

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

Insider Activity

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the sale, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of Newmont 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 completion of the sale, the director owned 32,709 shares of the company’s stock, valued at $3,021,003.24. This trade represents a 5.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 9,160 shares of company stock worth $767,206 over the last quarter. 0.05% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Newmont

A number of large investors have recently bought and sold shares of NEM. GoalVest Advisory LLC acquired a new stake in shares of Newmont during the 4th quarter worth $25,000. Rosenberg Matthew Hamilton grew its position in Newmont by 308.0% during the fourth quarter. Rosenberg Matthew Hamilton now owns 306 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 231 shares during the period. Physician Wealth Advisors Inc. increased its stake in Newmont by 327.8% during the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 236 shares during the last quarter. JPL Wealth Management LLC purchased a new position in shares of Newmont in the 3rd quarter worth about $27,000. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Newmont by 53.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

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.