Newmont Corporation (NYSE:NEM) Receives $99.49 Consensus Price Target from Analysts

Shares of Newmont Corporation (NYSE:NEM) have earned an average recommendation of “Buy” from the twenty-three ratings firms that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and six have issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $105.8833.

A number of analysts have issued reports on the stock. Bank of America boosted their price objective on shares of Newmont from $105.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Jefferies Financial Group boosted their price target on Newmont from $120.00 to $136.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Raymond James Financial raised their price objective on Newmont from $111.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, January 15th. TD Cowen upped their target price on Newmont from $89.00 to $120.00 and gave the company a “hold” rating in a research report on Thursday, January 22nd. Finally, BNP Paribas Exane lowered Newmont from an “outperform” rating to a “hold” rating and set a $97.00 target price on the stock. in a report on Friday, December 5th.

Newmont Trading Up 3.9%

NEM stock opened at $132.01 on Thursday. Newmont has a 52 week low of $40.99 and a 52 week high of $132.40. The company has a market capitalization of $144.05 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 0.97 and a beta of 0.41. The company’s 50-day simple moving average is $103.05 and its 200 day simple moving average is $86.22. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04.

Insider Transactions at Newmont

In related news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the sale, the director owned 32,709 shares in the company, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the transaction, the chief executive officer owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,160 shares of company stock worth $767,206 over the last quarter. Corporate insiders own 0.05% of the company’s stock.

Institutional Investors Weigh In On Newmont

A number of large investors have recently modified their holdings of the business. Apella Capital LLC lifted its position in shares of Newmont by 4.1% during the 4th quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock worth $219,000 after buying an additional 86 shares during the last quarter. New Wave Wealth Advisors LLC raised its stake in Newmont by 1.3% during the fourth quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock worth $684,000 after acquiring an additional 88 shares in the last quarter. Novem Group lifted its holdings in shares of Newmont by 3.7% in the fourth quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock worth $248,000 after acquiring an additional 88 shares during the last quarter. Norden Group LLC boosted its stake in shares of Newmont by 0.7% in the 4th quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock valued at $1,235,000 after purchasing an additional 90 shares in the last quarter. Finally, Brown Miller Wealth Management LLC grew its holdings in shares of Newmont by 2.7% during the 4th quarter. Brown Miller Wealth Management LLC now owns 4,268 shares of the basic materials company’s stock valued at $426,000 after purchasing an additional 113 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

About Newmont

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.