Newmont Goldcorp (NYSE:NEM) Given New $46.00 Price Target at Deutsche Bank
Newmont Goldcorp (NYSE:NEM) had its price objective raised by equities researchers at Deutsche Bank from $45.00 to $46.00 in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the basic materials company’s stock. Deutsche Bank’s target price would indicate a potential upside of 16.81% from the company’s current price.
A number of other analysts have also recently commented on the company. Barclays set a $45.00 price objective on Newmont Goldcorp and gave the company a “buy” rating in a research report on Tuesday, October 15th. TheStreet raised Newmont Goldcorp from a “c+” rating to a “b” rating in a research report on Tuesday, November 5th. National Bank Financial reissued an “outperform market weight” rating on shares of Newmont Goldcorp in a research report on Wednesday, October 23rd. Macquarie began coverage on Newmont Goldcorp in a research note on Thursday, September 12th. They set a “neutral” rating for the company. Finally, TD Securities dropped their price objective on shares of Newmont Goldcorp from $52.00 to $50.00 and set an “action list buy” rating on the stock in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $43.41.
NYSE:NEM opened at $39.38 on Tuesday. The company has a market cap of $31.48 billion, a PE ratio of 29.17 and a beta of -0.06. The company has a current ratio of 2.18, a quick ratio of 1.76 and a debt-to-equity ratio of 0.30. The company has a 50 day simple moving average of $38.24 and a two-hundred day simple moving average of $37.66. Newmont Goldcorp has a 12 month low of $29.77 and a 12 month high of $41.23.
In other Newmont Goldcorp news, CAO John Kitlen sold 750 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $39.32, for a total transaction of $29,490.00. Following the sale, the chief accounting officer now owns 41,923 shares in the company, valued at approximately $1,648,412.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Dean Gehring sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $39.32, for a total transaction of $137,620.00. Following the sale, the executive vice president now owns 24,810 shares in the company, valued at approximately $975,529.20. The disclosure for this sale can be found here. Insiders sold 31,750 shares of company stock worth $1,216,328 in the last ninety days. Corporate insiders own 0.44% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Metropolitan Life Insurance Co NY lifted its stake in shares of Newmont Goldcorp by 0.3% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 124,176 shares of the basic materials company’s stock valued at $4,709,000 after buying an additional 433 shares in the last quarter. Voloridge Investment Management LLC increased its stake in Newmont Goldcorp by 1,208.4% in the 3rd quarter. Voloridge Investment Management LLC now owns 396,592 shares of the basic materials company’s stock worth $15,039,000 after buying an additional 366,281 shares in the last quarter. National Pension Service increased its stake in Newmont Goldcorp by 5.0% in the 3rd quarter. National Pension Service now owns 1,279,664 shares of the basic materials company’s stock worth $48,525,000 after buying an additional 61,484 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in Newmont Goldcorp by 1.7% during the third quarter. Public Employees Retirement System of Ohio now owns 286,851 shares of the basic materials company’s stock valued at $10,877,000 after acquiring an additional 4,738 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in Newmont Goldcorp during the third quarter valued at about $6,785,000. Institutional investors and hedge funds own 81.06% of the company’s stock.
About Newmont Goldcorp
Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry. The company primarily acquires, develops, explores for, and produces gold, copper, and silver. Its operations and/or assets are located in the United States, Australia, Peru, Ghana, and Suriname. As of December 31, 2018, the company had proven and probable gold reserves of 65.4 million ounces and an aggregate land position of approximately 24,000 square miles.
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