Newmont (NEM) – Analysts’ Weekly Ratings Changes

Several analysts have recently updated their ratings and price targets for Newmont (NYSE: NEM):

• 7/10/2024 – Newmont was upgraded by analysts at CIBC from a “neutral” rating to a “sector outperform” rating. They now have a $61.00 price target on the stock.
• 7/8/2024 – Newmont was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating.
• 6/26/2024 – Newmont had its price target raised by analysts at Bank of America Co. from $49.00 to $50.00. They now have a “buy” rating on the stock.
• 6/21/2024 – Newmont was upgraded by analysts at BNP Paribas to a “strong-buy” rating.
• 6/17/2024 – Newmont was upgraded by analysts at UBS Group AG from a “neutral” rating to a “buy” rating. They now have a $50.00 price target on the stock, up previously from $40.00.
• 5/23/2024 – Newmont had its price target raised by analysts at Scotiabank from $46.50 to $48.00. They now have a “sector perform” rating on the stock.
• 5/21/2024 – Newmont had its price target lowered by analysts at BMO Capital Markets from $54.00 to $53.00. They now have an “outperform” rating on the stock.
• 5/16/2024 – Newmont had its price target lowered by analysts at Sanford C. Bernstein from $46.00 to $45.00. They now have a “market perform” rating on the stock.

Newmont Price Performance

NYSE:NEM traded up $1.92 during midday trading on Wednesday, hitting $45.81. 3,275,791 shares of the stock were exchanged, compared to its average volume of 11,571,100. Newmont Co. has a one year low of $29.42 and a one year high of $45.92. The company has a market capitalization of $52.83 billion, a price-to-earnings ratio of -17.16, a P/E/G ratio of 0.37 and a beta of 0.47. The business has a 50-day moving average price of $42.07 and a two-hundred day moving average price of $38.19. The company has a current ratio of 2.15, a quick ratio of 1.90 and a debt-to-equity ratio of 0.32.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.20. Newmont had a positive return on equity of 6.88% and a negative net margin of 20.19%. The company had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the prior year, the company earned $0.40 earnings per share. The firm’s revenue was up 50.2% on a year-over-year basis. Sell-side analysts predict that Newmont Co. will post 2.48 EPS for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Tuesday, June 4th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Tuesday, June 4th. Newmont’s dividend payout ratio is currently -37.45%.

Insider Buying and Selling

In other Newmont news, CEO Thomas Ronald Palmer sold 13,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $42.13, for a total transaction of $547,690.00. Following the completion of the transaction, the chief executive officer now owns 331,469 shares of the company’s stock, valued at approximately $13,964,788.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Institutional Trading of Newmont

Several large investors have recently added to or reduced their stakes in NEM. CWM LLC boosted its stake in shares of Newmont by 61.2% in the 2nd quarter. CWM LLC now owns 17,181 shares of the basic materials company’s stock valued at $719,000 after purchasing an additional 6,521 shares during the last quarter. CVA Family Office LLC raised its holdings in shares of Newmont by 237.8% in the 2nd quarter. CVA Family Office LLC now owns 1,598 shares of the basic materials company’s stock worth $67,000 after acquiring an additional 1,125 shares during the last quarter. Hilltop National Bank raised its holdings in shares of Newmont by 912.6% in the 2nd quarter. Hilltop National Bank now owns 14,025 shares of the basic materials company’s stock worth $587,000 after acquiring an additional 12,640 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in Newmont in the 2nd quarter valued at about $267,000. Finally, Bard Financial Services Inc. increased its stake in Newmont by 11.4% in the 2nd quarter. Bard Financial Services Inc. now owns 73,425 shares of the basic materials company’s stock valued at $3,074,000 after buying an additional 7,525 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

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.