Shares of Newmont Corporation (NYSE:NEM – Get Free Report) traded up 1.5% on Tuesday . The company traded as high as $114.68 and last traded at $114.4750. 7,852,433 shares traded hands during trading, a decline of 26% from the average session volume of 10,649,147 shares. The stock had previously closed at $112.83.
Trending Headlines about Newmont
Here are the key news stories impacting Newmont this week:
- Positive Sentiment: Major analyst coverage tilts bullish — 22 firms covering Newmont show an average recommendation of “Buy” (majority buy/strong-buy), supporting investor demand for the stock. Newmont Corporation (NYSE:NEM) Given Average Rating of “Buy” by Brokerages
- Positive Sentiment: High-profile endorsement — Jim Cramer reiterated a favorable view of Newmont and the importance of owning gold, which can boost retail interest and short-term flows into the stock. Jim Cramer Discusses Newmont Corporation and the Importance of Owning Gold
- Neutral Sentiment: Insider sale disclosed — EVP Peter Toth sold 3,000 shares under a 10b5-1 plan (reported value ≈$339k). As this was a planned sale program, it’s typically viewed as neutral but can create short-term headlines. Newmont EVP Peter Toth Sells 3,000 Shares Under 10b5-1 Plan
- Negative Sentiment: Short-term weakness vs. peers — Coverage notes Newmont underperformed peers on Monday, which may concern momentum traders and relative-value investors. Newmont Corp. stock underperforms Monday when compared to competitors
- Negative Sentiment: Recent intraday pullbacks — Multiple headlines report the stock recently slipped while the broader market gained, signaling near-term selling pressure that could reappear on negative macro or gold-price moves. Newmont Corporation (NEM) Stock Sinks As Market Gains: Here’s Why
Analysts Set New Price Targets
A number of analysts have weighed in on the stock. DZ Bank raised shares of Newmont to a “strong-buy” rating in a report on Monday, January 19th. BMO Capital Markets cut their target price on shares of Newmont from $145.00 to $140.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. Jefferies Financial Group lifted their target price on shares of Newmont from $158.00 to $162.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Friday. Finally, The Goldman Sachs Group lifted their target price on shares of Newmont from $99.90 to $123.90 and gave the company a “buy” rating in a report on Monday, January 12th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Newmont has an average rating of “Moderate Buy” and an average target price of $133.78.
Newmont Trading Up 1.5%
The business’s 50-day moving average is $115.86 and its two-hundred day moving average is $101.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.02 and a current ratio of 2.29. The stock has a market capitalization of $123.62 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 0.88 and a beta of 0.46.
Newmont (NYSE:NEM – Get Free Report) last posted its quarterly earnings data on Thursday, February 19th. The basic materials company reported $2.52 earnings per share for the quarter, beating 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 firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.18 billion. During the same period last year, the firm posted $1.40 EPS. Newmont’s quarterly revenue was up 20.6% on a year-over-year basis. As a group, equities research analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.
Newmont Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Tuesday, March 3rd were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, March 3rd. This is an increase from Newmont’s previous quarterly dividend of $0.25. Newmont’s payout ratio is presently 16.28%.
Insider Buying and Selling at Newmont
In other Newmont news, insider David James Fry sold 18,394 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the sale, the insider directly owned 17,147 shares in the company, valued at approximately $1,911,033.15. The trade was a 51.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $113.09, for a total transaction of $339,270.00. Following the sale, the executive vice president owned 52,315 shares in the company, valued at $5,916,303.35. The trade was a 5.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,394 shares of company stock worth $2,713,281 over the last 90 days. Insiders own 0.05% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in NEM. GoalVest Advisory LLC acquired a new position in shares of Newmont during the 4th quarter worth $25,000. Physician Wealth Advisors Inc. raised its stake in shares of Newmont by 327.8% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after buying an additional 236 shares during the last quarter. Swiss RE Ltd. acquired a new position in shares of Newmont during the 4th quarter worth $26,000. Cornerstone Planning Group LLC raised its stake in shares of Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after buying an additional 206 shares during the last quarter. Finally, JPL Wealth Management LLC acquired a new position in shares of Newmont during the 3rd quarter worth $27,000. 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.
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