BNP Paribas Exane Lowers Newmont (NYSE:NEM) Price Target to $111.00

Newmont (NYSE:NEM) had its price target lowered by equities research analysts at BNP Paribas Exane from $128.00 to $111.00 in a report issued on Thursday,MarketScreener reports. The firm currently has a “neutral” rating on the basic materials company’s stock. BNP Paribas Exane’s price objective suggests a potential upside of 5.00% from the stock’s current price.

A number of other equities research analysts have also issued reports on NEM. Zacks Research raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday. Royal Bank Of Canada reduced their price target on Newmont from $160.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, June 3rd. Canaccord Genuity Group raised their price target on shares of Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. TD Securities reiterated a “hold” rating and issued a $129.00 price objective on shares of Newmont in a report on Monday, April 27th. Finally, Barclays initiated coverage on shares of Newmont in a research report on Thursday, May 21st. They issued an “overweight” rating and a $133.00 price objective on the stock. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $140.98.

Newmont Stock Up 0.0%

NYSE NEM traded up $0.05 on Thursday, reaching $105.72. The company had a trading volume of 1,838,640 shares, compared to its average volume of 9,332,236. The company’s fifty day moving average is $110.52 and its 200-day moving average is $110.51. The firm has a market capitalization of $112.86 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 1.80 and a beta of 0.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. Newmont has a 1-year low of $55.37 and a 1-year high of $134.88.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.83. The firm 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%.The company’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same quarter last year, the business posted $1.25 EPS. On average, research analysts forecast that Newmont will post 9.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $315,960.00. Following the completion of the transaction, the executive vice president directly owned 46,315 shares of the company’s stock, valued at approximately $4,877,895.80. This trade represents a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of the business’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the transaction, the executive vice president owned 67,865 shares in the company, valued at approximately $7,472,615.15. The trade was a 16.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 28,556 shares of company stock worth $3,120,276 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Institutional Trading of Newmont

A number of large investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Newmont during the 4th quarter worth about $1,443,128,000. Van ECK Associates Corp lifted its stake in Newmont by 23.4% in the 4th quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock valued at $2,973,539,000 after purchasing an additional 5,643,496 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Newmont by 110.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,743,228 shares of the basic materials company’s stock worth $873,011,000 after purchasing an additional 4,588,018 shares during the period. AQR Capital Management LLC grew its holdings in Newmont by 82.5% during the fourth quarter. AQR Capital Management LLC now owns 7,402,278 shares of the basic materials company’s stock worth $739,117,000 after purchasing an additional 3,345,543 shares during the period. Finally, Assetmark Inc. increased its position in Newmont by 398.3% during the fourth quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock worth $286,619,000 after buying an additional 2,294,396 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.