Newmont Co. (NYSE:NEM – Get Rating) COO Robert D. Atkinson sold 3,000 shares of the business’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $48.92, for a total transaction of $146,760.00. Following the transaction, the chief operating officer now owns 84,751 shares of the company’s stock, valued at approximately $4,146,018.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Newmont Stock Performance
NYSE NEM opened at $52.05 on Friday. The business’s 50 day moving average is $47.18 and its two-hundred day moving average is $46.42. Newmont Co. has a 12-month low of $37.45 and a 12-month high of $86.37. The company has a current ratio of 2.23, a quick ratio of 1.89 and a debt-to-equity ratio of 0.31.
Newmont (NYSE:NEM – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The basic materials company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.03). Newmont had a positive return on equity of 6.98% and a negative net margin of 3.60%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period in the prior year, the company earned $0.78 EPS. The company’s revenue was down 5.6% on a year-over-year basis. As a group, analysts expect that Newmont Co. will post 2.24 earnings per share for the current fiscal year.
Newmont Cuts Dividend
Wall Street Analysts Forecast Growth
NEM has been the topic of several research reports. BNP Paribas raised Newmont from a “neutral” rating to an “outperform” rating and set a $60.00 price objective on the stock in a report on Monday, February 13th. Barclays boosted their price objective on Newmont from $54.00 to $57.00 and gave the company an “equal weight” rating in a research note on Monday, January 30th. Citigroup lowered their target price on shares of Newmont from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and reduced their price target for the company from $59.00 to $53.00 in a research report on Tuesday, February 14th. Finally, StockNews.com initiated coverage on shares of Newmont in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $62.06.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Compass Wealth Management LLC purchased a new stake in shares of Newmont during the 4th quarter worth approximately $25,000. Delta Asset Management LLC TN acquired a new position in Newmont during the fourth quarter worth $30,000. Cowa LLC purchased a new stake in Newmont during the third quarter worth $32,000. Avion Wealth grew its holdings in Newmont by 4,664.7% in the third quarter. Avion Wealth now owns 810 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 793 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in shares of Newmont in the third quarter valued at $34,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.
Newmont Company Profile
Newmont Corp. is a gold producer, engages in the exploration and acquisition of gold properties, contains copper, silver, lead, zinc or other metals. It operates through the following geographical segments: North America, South America, Nevada, Australia, and Africa. The North America segment consists primarily of carlin, phoenix, twin creeks and long canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado, in the United States.
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