Newmont (NYSE:NEM) Stock Price Up 1% – What’s Next?

Newmont Corporation (NYSE:NEM) shares traded up 1% on Friday . The stock traded as high as $106.34 and last traded at $105.7860. 3,784,386 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 11,464,480 shares. The stock had previously closed at $104.73.

Analysts Set New Price Targets

NEM has been the topic of several research analyst reports. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $71.50 to $114.00 in a research note on Thursday, October 23rd. National Bankshares raised their price target on Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Royal Bank Of Canada boosted their price objective on Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. TD Securities raised their target price on Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a research note on Wednesday, October 8th. Finally, Argus lifted their price target on Newmont from $75.00 to $94.00 in a report on Friday, November 21st. Five equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $96.37.

Newmont Trading Up 1.0%

The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The company has a market cap of $115.44 billion, a P/E ratio of 16.43, a P/E/G ratio of 0.73 and a beta of 0.41. The business has a 50-day moving average price of $90.08 and a two-hundred day moving average price of $76.95.

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

Newmont Announces Dividend

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

Insider Activity at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the sale, the chief executive officer owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. The trade was a 1.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the sale, the director owned 32,709 shares of the company’s stock, valued at $3,021,003.24. The trade was a 5.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 11,240 shares of company stock worth $943,985 over the last 90 days. 0.05% of the stock is currently owned by company insiders.

Institutional Trading of Newmont

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Triumph Capital Management acquired a new stake in shares of Newmont in the 3rd quarter valued at approximately $128,000. Sherman Porfolios LLC acquired a new stake in Newmont during the 3rd quarter worth $971,000. AIA Group Ltd lifted its holdings in shares of Newmont by 38.7% during the 3rd quarter. AIA Group Ltd now owns 114,828 shares of the basic materials company’s stock valued at $9,681,000 after purchasing an additional 32,050 shares in the last quarter. Keel Point LLC lifted its stake in Newmont by 4.0% in the third quarter. Keel Point LLC now owns 14,138 shares of the basic materials company’s stock valued at $1,192,000 after buying an additional 548 shares in the last quarter. Finally, Mirabella Financial Services LLP bought a new stake in Newmont in the 3rd quarter valued at $1,291,000. 68.85% of the stock is owned by institutional investors.

About Newmont

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.