TD Securities Has Lowered Expectations for Newmont (NYSE:NEM) Stock Price

Newmont (NYSE:NEM) had its target price decreased by TD Securities from $46.00 to $45.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the basic materials company’s stock. TD Securities’ price target indicates a potential upside of 3.02% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Raymond James decreased their target price on Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. Royal Bank of Canada raised their price objective on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. Bernstein Bank upped their target price on Newmont from $55.00 to $58.00 in a report on Monday, November 11th. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday. Finally, UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.16.

Newmont Trading Up 1.7 %

NYSE NEM traded up $0.75 during trading hours on Wednesday, hitting $43.68. The company’s stock had a trading volume of 4,651,122 shares, compared to its average volume of 9,765,971. Newmont has a twelve month low of $29.42 and a twelve month high of $58.72. The firm has a market capitalization of $49.73 billion, a P/E ratio of 14.90, a PEG ratio of 0.41 and a beta of 0.52. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The stock has a fifty day moving average of $41.70 and a 200 day moving average of $46.39.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.29. The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Equities research analysts forecast that Newmont will post 3.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $89,082.53. Following the sale, the director now directly owns 49,993 shares of the company’s stock, valued at approximately $2,144,199.77. This trade represents a 3.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $386,010.00. Following the transaction, the chief operating officer now owns 136,967 shares in the company, valued at $5,874,514.63. This represents a 6.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,154 shares of company stock worth $1,166,843 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Waverton Investment Management Ltd increased its position in Newmont by 14.0% during the 3rd quarter. Waverton Investment Management Ltd now owns 531,041 shares of the basic materials company’s stock valued at $28,379,000 after purchasing an additional 65,075 shares during the period. Sanctuary Advisors LLC grew its stake in shares of Newmont by 117.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after acquiring an additional 18,722 shares during the period. Nordea Investment Management AB boosted its stake in Newmont by 173.0% in the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock worth $92,832,000 after purchasing an additional 1,578,545 shares during the period. Assenagon Asset Management S.A. increased its holdings in Newmont by 57.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company’s stock valued at $88,580,000 after purchasing an additional 865,213 shares during the period. Finally, Red Cedar Investment Management LLC bought a new position in shares of Newmont during the third quarter valued at $1,263,000. Institutional investors own 68.85% of the company’s stock.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for 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, Papua New Guinea, Ecuador, Fiji, and Ghana.