Newmont (NYSE:NEM) Now Covered by Analysts at StockNews.com

Stock analysts at StockNews.com assumed coverage on shares of Newmont (NYSE:NEM – Get Rating) in a report released on Thursday. The brokerage set a “hold” rating on the basic materials company’s stock.

A number of other equities analysts have also commented on NEM. BNP Paribas upgraded Newmont from a “neutral” rating to an “outperform” rating and set a $60.00 price objective on the stock in a research note on Monday, February 13th. Canaccord Genuity Group raised shares of Newmont from a “hold” rating to a “buy” rating and increased their target price for the company from $53.00 to $55.00 in a research report on Monday, March 13th. Raymond James reduced their price target on shares of Newmont from $61.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, February 24th. Fundamental Research set a $51.92 price target on shares of Newmont and gave the company a “buy” rating in a research note on Tuesday, March 7th. Finally, UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $59.00 to $53.00 in a report on Tuesday, February 14th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $62.21.

Newmont Stock Performance

Shares of NYSE:NEM traded up $2.39 during trading on Thursday, reaching $48.17. 27,337,120 shares of the stock were exchanged, compared to its average volume of 7,948,888. Newmont has a 12 month low of $37.45 and a 12 month high of $86.37. The stock has a 50-day moving average price of $48.39 and a 200-day moving average price of $45.78. The company has a current ratio of 2.23, a quick ratio of 1.89 and a debt-to-equity ratio of 0.31. The firm has a market cap of $38.27 billion, a PE ratio of -89.20, a PEG ratio of 1.72 and a beta of 0.31.

Newmont (NYSE:NEM – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.03). Newmont had a negative net margin of 3.60% and a positive return on equity of 6.98%. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter last year, the firm earned $0.78 earnings per share. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. Research analysts expect that Newmont will post 2.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other Newmont news, CEO Thomas Ronald Palmer sold 11,000 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $48.23, for a total value of $530,530.00. Following the transaction, the chief executive officer now owns 199,949 shares in the company, valued at $9,643,540.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Robert D. Atkinson sold 3,000 shares of Newmont stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $44.25, for a total transaction of $132,750.00. Following the sale, the chief operating officer now owns 87,751 shares of the company’s stock, valued at approximately $3,882,981.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 11,000 shares of Newmont stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $48.23, for a total transaction of $530,530.00. Following the sale, the chief executive officer now directly owns 199,949 shares in the company, valued at approximately $9,643,540.27. The disclosure for this sale can be found here. Insiders sold 28,000 shares of company stock valued at $1,294,720 over the last three months. Insiders own 0.11% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NEM. Compass Wealth Management LLC purchased a new position in Newmont during the 4th quarter valued at about $25,000. Hoey Investments Inc. purchased a new position in Newmont during the 2nd quarter valued at about $30,000. Delta Asset Management LLC TN purchased a new position in Newmont during the 4th quarter valued at about $30,000. Cowa LLC purchased a new position in Newmont during the 3rd quarter valued at about $32,000. Finally, Avion Wealth lifted its position in Newmont by 4,664.7% during the 3rd quarter. Avion Wealth now owns 810 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 793 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

About Newmont

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Newmont Corp. is a gold producer, engages in the exploration and acquisition of gold properties, contains copper, silver, lead, zinc or other metals. It operates through the following geographical segments: North America, South America, Nevada, Australia, and Africa. The North America segment consists primarily of carlin, phoenix, twin creeks and long canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado, in the United States.