Newmont (NYSE:NEM)‘s stock had its “outperform” rating reiterated by National Bank Financial in a research note issued on Monday, The Fly reports.
Several other brokerages have also issued reports on NEM. TD Securities increased their target price on Newmont from $85.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, December 9th. Zacks Investment Research downgraded shares of Newmont from a “buy” rating to a “hold” rating and set a $62.00 target price on the stock. in a research report on Wednesday, November 25th. ValuEngine cut shares of Newmont from a “hold” rating to a “sell” rating in a research report on Wednesday, November 18th. Raymond James upped their price objective on shares of Newmont from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, December 9th. Finally, BidaskClub upgraded shares of Newmont from a “strong sell” rating to a “sell” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $72.51.
NEM stock traded down $0.84 on Monday, reaching $61.95. The company’s stock had a trading volume of 5,722,437 shares, compared to its average volume of 7,463,856. The firm has a market cap of $49.77 billion, a PE ratio of 19.48 and a beta of 0.15. The business has a fifty day simple moving average of $60.13 and a two-hundred day simple moving average of $63.02. Newmont has a 12-month low of $33.00 and a 12-month high of $72.22. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.47 and a current ratio of 2.83.
Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, October 29th. The basic materials company reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.07. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.24 billion. Newmont had a net margin of 23.19% and a return on equity of 7.37%. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.36 EPS. As a group, research analysts anticipate that Newmont will post 2.59 earnings per share for the current fiscal year.
In related news, EVP E Randall Engel sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $64.31, for a total value of $321,550.00. Following the transaction, the executive vice president now owns 274,341 shares of the company’s stock, valued at $17,642,869.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO John Kitlen sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, January 4th. The shares were sold at an average price of $61.95, for a total transaction of $123,900.00. Following the sale, the chief accounting officer now directly owns 31,653 shares of the company’s stock, valued at $1,960,903.35. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,815 shares of company stock valued at $2,958,618. 0.28% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. Lombard Odier Asset Management Switzerland SA raised its holdings in Newmont by 31.5% in the 3rd quarter. Lombard Odier Asset Management Switzerland SA now owns 42,704 shares of the basic materials company’s stock worth $2,710,000 after purchasing an additional 10,230 shares during the period. Avantax Advisory Services Inc. boosted its position in shares of Newmont by 123.4% in the third quarter. Avantax Advisory Services Inc. now owns 16,712 shares of the basic materials company’s stock worth $1,062,000 after purchasing an additional 9,232 shares during the period. Harbor Investment Advisory LLC increased its stake in shares of Newmont by 1,773.2% in the third quarter. Harbor Investment Advisory LLC now owns 768 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 727 shares in the last quarter. Orion Portfolio Solutions LLC raised its position in shares of Newmont by 40.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 4,861 shares of the basic materials company’s stock valued at $308,000 after purchasing an additional 1,395 shares during the period. Finally, Flagship Harbor Advisors LLC lifted its stake in shares of Newmont by 82.5% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 4,034 shares of the basic materials company’s stock valued at $255,000 after buying an additional 1,823 shares in the last quarter. Institutional investors and hedge funds own 75.69% of the company’s stock.
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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