Newmont (NYSE:NEM) PT Set at $155.00 by RBC Dominion Securities

Newmont (NYSE:NEM) received a $155.00 price target from stock analysts at RBC Dominion Securities in a report released on Thursday, BayStreet reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. RBC Dominion Securities‘s target price would indicate a potential upside of 36.41% from the stock’s previous close.

NEM has been the topic of several other research reports. Canadian Imperial Bank of Commerce set a $154.00 price objective on Newmont in a report on Friday, October 16th. Royal Bank Of Canada increased their target price on Newmont from $135.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 16th. Bank of America dropped their target price on shares of Newmont from $157.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Scotiabank lifted their price target on shares of Newmont from $147.00 to $149.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Finally, UBS Group reduced their price target on shares of Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $134.06.

Newmont Trading Down 3.0%

NYSE:NEM traded down $3.55 on Thursday, reaching $113.63. The company’s stock had a trading volume of 9,527,946 shares, compared to its average volume of 8,512,312. Newmont has a 1-year low of $76.05 and a 1-year high of $135.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The firm has a market cap of $119.73 billion, a PE ratio of 14.35, a PEG ratio of 2.16 and a beta of 0.51. The business’s 50-day moving average price is $122.06 and its two-hundred day moving average price is $111.00.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.05. The company had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%. During the same period in the prior year, the company earned $1.43 earnings per share. Equities research analysts anticipate that Newmont will post 9.04 earnings per share for the current fiscal year.

Insider Transactions at Newmont

In other news, CEO Natascha Viljoen sold 7,764 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction of $807,456.00. Following the completion of the transaction, the chief executive officer directly owned 135,235 shares of the company’s stock, valued at $14,064,440. This represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $344,430.00. Following the transaction, the executive vice president owned 34,315 shares of the company’s stock, valued at approximately $3,939,705.15. The trade was a 8.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 35,973 shares of company stock valued at $3,927,169 over the last three months. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Newmont

Hedge funds have recently made changes to their positions in the business. Monetary Solutions Ltd bought a new stake in shares of Newmont in the third quarter worth $103,000. Royal Fund Management LLC acquired a new position in Newmont during the third quarter worth $8,017,000. Visionary Horizons LLC bought a new position in Newmont in the third quarter valued at $776,000. Strategic Planning Group LLC bought a new position in Newmont in the third quarter valued at $10,263,000. Finally, Brookstone Capital Management acquired a new stake in Newmont in the 3rd quarter valued at $4,484,000. 68.85% of the stock is owned by institutional investors.

Newmont Company Profile

Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.