Newmont (NYSE:NEM – Get a Rating) was downgraded by TheStreet research analysts from a “b-” rating to a “c+” rating in a note released Thursday to investors, TheStreetRatingsTable reports.
A number of other stock analysts also commented on NEM. TD Securities reduced its target price on Newmont shares from $64.00 to $52.00 and set a “hold” rating on the stock in a research report on Tuesday, July 26. Canaccord Genuity Group downgraded Newmont from a “hold” rating to a “buy” rating and lowered its target price for the stock from $66.00 to $60.00 in a Wednesday, July 27, report. Goldman Sachs Group began covering Newmont in a research note on Monday, September 12. They set a “buy” rating and a price target of $53.00 on the stock. Fundamental Research lowered its price target on Newmont shares from $79.52 to $63.91 and set a “buy” rating for the company in a Tuesday, Aug. 9 research note. Finally, UBS Group upgraded Newmont shares from a “neutral” rating to a “buy” rating and set a price target of $50.00 for the company in a Tuesday, September 6 report. Eleven equity research analysts gave the stock a hold rating and eight gave the company a buy rating. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $66.94.
Newmont Price Performance
NEM opened at $41.25 on Thursday. The company has a quick ratio of 2.44, a current ratio of 2.82 and a debt ratio of 0.28. The company has a fifty-day moving average of $44.81 and a 200-day moving average of $61.57. Newmont has a 52-week low of $40.27 and a 52-week high of $86.37. The stock has a market capitalization of $32.74 billion, a P/E ratio of 41.67 and a beta of 0.29.
Newmont (NYSE:NEM – Get Rating) last released its quarterly results on Monday, July 25. The basic materials company reported EPS of $0.46 for the quarter, missing analyst consensus estimates of $0.60 per ($0.14). Newmont had a return on equity of 9.13% and a net margin of 6.40%. The company posted revenue of $3.06 billion in the quarter, versus a consensus estimate of $3.04 billion. In the same quarter a year earlier, the company posted earnings per share of $0.83. The company’s revenue for the quarter decreased 0.2% year over year. As a group, sell-side analysts expect Newmont to post year-to-date EPS of 2.61.
Insider Activity at Newmont
In other Newmont news, Chief Financial Officer Nancy Buese sold 10,000 Newmont shares in a trade dated Thursday, June 30. The stock was sold at an average price of $61.50, for a total transaction of $615,000.00. Following the completion of the sale, the CFO now owns 39,530 shares of the company, valued at approximately $2,431,095. The sale was disclosed in a legal filing with the SEC, accessible via this hyperlink. Separately, CFO Nancy Buese sold 10,000 shares in a trade that took place on Thursday, June 30. The shares were sold at an average price of $61.50, for a total value of $615,000.00. Following the transaction, the CFO now owns 39,530 shares of the company, valued at approximately $2,431,095. The sale was disclosed in a filing with the SEC, which is available via this link. Additionally, COO Robert D. Atkinson sold 3,000 shares in a trade that took place on Friday, July 1. The stock was sold at an average price of $59.43, for a total transaction of $178,290.00. Following completion of the transaction, the COO now owns 64,617 shares of the company, valued at approximately $3,840,188.31. The disclosure of this sale can be found here. Insiders sold a total of 38,000 shares of the company valued at $2,081,920 in the past ninety days. Insiders of the company hold 0.11% of the shares of the company.
Hedge funds weigh on Newmont
Hedge funds and other institutional investors have recently been buying and selling shares of the company. Lloyd Advisory Services LLC. acquired a new equity stake in Newmont during Q1 worth approximately $28,000. Central Bank & Trust Co. acquired a new equity stake in Newmont during Q1 worth approximately $29,000. Pacific Center for Financial Services acquired a new equity stake in Newmont during Q1 worth approximately $30,000. Vectors Research Management LLC acquired a new stake in Newmont stock during Q4 worth approximately $25,000. Finally, Riverview Trust Co acquired a new equity stake in Newmont during Q1 worth approximately $38,000. Institutional investors and hedge funds hold 81.11% of the company’s shares.
Newmont Company Profile
(Get a rating)
Newmont Corporation is engaged in the production and exploration of gold. He also explores 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, 2021, it had proven and probable gold reserves of 92.8 million ounces and a land position of 62,800 square kilometers.
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