Newmont (NYSE:NEM) Trading Down 1.5% – Here’s Why

Newmont Co. (NYSE:NEM)’s stock price fell 1.5% during trading on Thursday . The stock traded as low as $54.77 and last traded at $55.11. 3,636,028 shares were traded during trading, a decline of 63% from the average session volume of 9,830,719 shares. The stock had previously closed at $55.95.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NEM shares. Royal Bank of Canada boosted their price objective on Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a research report on Friday, April 4th. National Bank Financial raised Newmont to a “hold” rating in a report on Friday, March 21st. Raymond James raised their target price on Newmont from $54.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. StockNews.com upgraded Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Finally, TD Securities cut their price objective on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Newmont has an average rating of “Moderate Buy” and an average price target of $55.02.

Newmont Trading Down 1.2 %

The firm has a market capitalization of $62.30 billion, a P/E ratio of 18.85, a P/E/G ratio of 0.41 and a beta of 0.54. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The company’s fifty day moving average is $46.78 and its 200-day moving average is $45.12.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.29. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. As a group, sell-side analysts anticipate that Newmont Co. will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Insider Transactions at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $128,670.00. Following the sale, the executive vice president now owns 79,596 shares of the company’s stock, valued at $3,413,872.44. The trade was a 3.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $89,082.53. Following the transaction, the director now directly owns 49,993 shares of the company’s stock, valued at $2,144,199.77. The trade was a 3.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,154 shares of company stock worth $825,678. 0.05% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NEM. Ipswich Investment Management Co. Inc. raised its stake in shares of Newmont by 1.4% in the first quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company’s stock valued at $689,000 after acquiring an additional 200 shares during the last quarter. SOA Wealth Advisors LLC. grew its stake in shares of Newmont by 64.0% during the first quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 201 shares during the last quarter. HighPoint Advisor Group LLC raised its position in shares of Newmont by 3.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 5,992 shares of the basic materials company’s stock worth $223,000 after acquiring an additional 219 shares during the last quarter. Rothschild Investment LLC lifted its stake in shares of Newmont by 8.5% during the first quarter. Rothschild Investment LLC now owns 2,786 shares of the basic materials company’s stock valued at $135,000 after acquiring an additional 219 shares during the period. Finally, Confluence Investment Management LLC grew its position in shares of Newmont by 2.4% during the 4th quarter. Confluence Investment Management LLC now owns 11,788 shares of the basic materials company’s stock worth $439,000 after buying an additional 281 shares during the period. 68.85% of the stock is owned by institutional investors.

About Newmont

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.