Newmont (NYSE:NEM) Rating Lowered to “Hold” at Wall Street Zen
by Scott Moore · The Cerbat GemNewmont (NYSE:NEM – Get Free Report) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.
A number of other equities analysts have also issued reports on NEM. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Newmont in a research note on Monday, December 29th. Jefferies Financial Group boosted their price objective on Newmont from $158.00 to $162.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Zacks Research upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 5th. BNP Paribas Exane raised their target price on Newmont from $123.00 to $128.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Finally, TD Securities dropped their price target on shares of Newmont from $120.00 to $118.00 and set a “hold” rating on the stock in a research report on Tuesday, March 3rd. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $133.78.
Newmont Stock Up 0.1%
Newmont stock opened at $114.13 on Friday. Newmont has a 52 week low of $42.93 and a 52 week high of $134.88. The stock has a market cap of $123.26 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 0.88 and a beta of 0.46. The company’s 50-day moving average price is $116.13 and its two-hundred day moving average price is $101.67. The company has a current ratio of 2.29, a quick ratio of 2.02 and a debt-to-equity ratio of 0.16.
Newmont (NYSE:NEM – Get Free Report) last issued its quarterly earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.71. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.18 billion. During the same period in the prior year, the business posted $1.40 EPS. The business’s revenue for the quarter was up 20.6% compared to the same quarter last year. On average, analysts expect that Newmont will post 3.45 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, insider David James Fry sold 18,394 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the sale, the insider directly owned 17,147 shares of the company’s stock, valued at $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $113.09, for a total value of $339,270.00. Following the sale, the executive vice president owned 52,315 shares in the company, valued at approximately $5,916,303.35. The trade was a 5.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 24,394 shares of company stock worth $2,713,281 over the last ninety days. 0.05% of the stock is owned by insiders.
Hedge Funds Weigh In On Newmont
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEM. GoalVest Advisory LLC acquired a new position in Newmont during the fourth quarter valued at $25,000. Swiss RE Ltd. acquired a new stake in Newmont during the 4th quarter worth about $26,000. Cornerstone Planning Group LLC grew its stake in Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 206 shares in the last quarter. Lodestone Wealth Management LLC purchased a new position in Newmont during the 4th quarter valued at about $28,000. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of Newmont in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 68.85% of the company’s stock.
Newmont Company Profile
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.