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Newmont Co. (NYSE:NEM) Given Average Recommendation of “Hold” by Analysts

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Newmont logoNewmont Co. (NYSE:NEM) has received an average rating of “Hold” from the eighteen research firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $72.51.

Several research analysts recently commented on the stock. BidaskClub lowered shares of Newmont from a “sell” rating to a “strong sell” rating in a report on Wednesday, December 16th. TD Securities boosted their price objective on shares of Newmont from $85.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, December 9th. Raymond James boosted their price objective on shares of Newmont from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, December 9th. ValuEngine cut shares of Newmont from a “hold” rating to a “sell” rating in a research report on Wednesday, November 18th. Finally, Zacks Investment Research cut shares of Newmont from a “buy” rating to a “hold” rating and set a $62.00 price objective for the company. in a research report on Wednesday, November 25th.

NYSE:NEM traded down $0.50 during midday trading on Tuesday, hitting $59.89. 3,700,427 shares of the company traded hands, compared to its average volume of 7,886,327. The firm’s fifty day moving average is $60.48 and its 200-day moving average is $62.80. Newmont has a 12-month low of $33.00 and a 12-month high of $72.22. The firm has a market capitalization of $48.10 billion, a P/E ratio of 18.83 and a beta of 0.15. The company has a current ratio of 2.83, a quick ratio of 2.47 and a debt-to-equity ratio of 0.26.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, October 29th. The basic materials company reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.07. Newmont had a return on equity of 7.37% and a net margin of 23.19%. The company had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the prior year, the firm posted $0.36 EPS. Newmont’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, research analysts expect that Newmont will post 2.59 EPS for the current fiscal year.

In related news, EVP E Randall Engel sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 14th. The shares were sold at an average price of $63.40, for a total transaction of $317,000.00. Following the completion of the transaction, the executive vice president now owns 279,341 shares in the company, valued at approximately $17,710,219.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO John Kitlen sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $62.27, for a total transaction of $124,540.00. Following the transaction, the chief accounting officer now owns 37,742 shares of the company’s stock, valued at approximately $2,350,194.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,318 shares of company stock valued at $2,556,769. 0.28% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the business. Mercer Global Advisors Inc. ADV increased its stake in Newmont by 17.6% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 59,044 shares of the basic materials company’s stock valued at $3,746,000 after purchasing an additional 8,856 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in Newmont by 0.8% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 27,013 shares of the basic materials company’s stock valued at $1,714,000 after purchasing an additional 204 shares in the last quarter. Jeppson Wealth Management LLC acquired a new position in Newmont during the 3rd quarter valued at approximately $173,000. Capital Asset Advisory Services LLC increased its stake in Newmont by 47.5% during the 3rd quarter. Capital Asset Advisory Services LLC now owns 10,697 shares of the basic materials company’s stock valued at $679,000 after purchasing an additional 3,445 shares in the last quarter. Finally, Keel Point LLC boosted its holdings in shares of Newmont by 11.0% in the 3rd quarter. Keel Point LLC now owns 9,211 shares of the basic materials company’s stock valued at $584,000 after acquiring an additional 912 shares during the last quarter. Institutional investors and hedge funds own 75.69% of the company’s stock.

About Newmont

Newmont Corporation engages in the production and exploration of gold, 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, and Ghana. As of December 31, 2019, it had proven and probable gold reserves of 100.2 million ounces and land position of 68,300 square kilometers.

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Analyst Recommendations for Newmont (NYSE:NEM)


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