Jefferies Financial Group Issues Positive Forecast for Newmont (NYSE:NEM) Stock Price

Newmont (NYSE:NEM) had its price target increased by analysts at Jefferies Financial Group from $154.00 to $158.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Jefferies Financial Group’s target price indicates a potential upside of 58.53% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Argus boosted their price objective on Newmont from $94.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Royal Bank Of Canada lowered their price target on shares of Newmont from $160.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, June 3rd. Macquarie Infrastructure upped their price target on shares of Newmont from $130.00 to $133.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Scotiabank reduced their price objective on shares of Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a research note on Friday, March 20th. Finally, UBS Group decreased their price objective on shares of Newmont from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Newmont currently has an average rating of “Moderate Buy” and a consensus target price of $142.26.

Newmont Stock Performance

Shares of NYSE:NEM traded down $0.05 during midday trading on Monday, hitting $99.66. The company had a trading volume of 1,332,860 shares, compared to its average volume of 9,327,311. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The company has a market cap of $106.40 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.65 and a beta of 0.42. Newmont has a 12-month low of $52.08 and a 12-month high of $134.88. The company has a fifty day moving average of $111.70 and a two-hundred day moving average of $109.71.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.83. The company had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.Newmont’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 earnings per share. On average, equities research analysts expect that Newmont will post 9.91 EPS for the current fiscal year.

Insider Buying and Selling at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $315,960.00. Following the completion of the transaction, the executive vice president owned 46,315 shares in the company, valued at approximately $4,877,895.80. This represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction on Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $408,852.24. Following the completion of the sale, the chief executive officer owned 142,999 shares in the company, valued at approximately $15,060,654.68. This represents a 2.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 49,950 shares of company stock worth $5,494,288. Insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. GoalVest Advisory LLC bought a new position in shares of Newmont during the 4th quarter valued at approximately $25,000. Pinnacle Bancorp Inc. bought a new stake in shares of Newmont in the 1st quarter worth about $25,000. Cedar Mountain Advisors LLC purchased a new stake in shares of Newmont during the 1st quarter valued at about $25,000. Swiss RE Ltd. bought a new position in shares of Newmont in the 4th quarter valued at about $26,000. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 206 shares during the last quarter. Hedge funds and other institutional investors 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.