Newmont (NYSE:NEM) Price Target Raised to $140.00

Newmont (NYSE:NEM) had its target price lifted by National Bankshares from $120.00 to $140.00 in a research note published on Wednesday,BayStreet.CA reports. National Bankshares currently has an outperform rating on the basic materials company’s stock.

Several other equities analysts also recently weighed in on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Newmont in a report on Monday, December 29th. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $177.00 price objective on shares of Newmont in a research report on Wednesday. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Raymond James Financial upped their price objective on Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, January 15th. Finally, TD Securities lifted their price target on shares of Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. Five analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $117.11.

Newmont Stock Performance

NYSE:NEM opened at $115.27 on Wednesday. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The firm’s fifty day simple moving average is $107.05 and its 200-day simple moving average is $88.80. Newmont has a fifty-two week low of $41.23 and a fifty-two week high of $134.88. The stock has a market cap of $125.79 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 0.83 and a beta of 0.40.

Insider Buying and Selling

In other Newmont 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 value of $192,108.80. Following the completion of the sale, the director owned 32,709 shares of the company’s stock, valued at $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.05% of the company’s stock.

Institutional Trading of Newmont

Several institutional investors and hedge funds have recently bought and sold shares of NEM. Estate Counselors LLC bought a new stake in Newmont during the 3rd quarter valued at $4,182,000. AustralianSuper Pty Ltd boosted its stake in Newmont by 124.8% in the 3rd quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock worth $27,843,000 after purchasing an additional 183,360 shares during the period. Knights of Columbus Asset Advisors LLC increased its position in shares of Newmont by 286.5% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company’s stock valued at $5,101,000 after buying an additional 44,846 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Newmont by 176.4% during the second quarter. Envestnet Asset Management Inc. now owns 447,960 shares of the basic materials company’s stock valued at $26,098,000 after buying an additional 285,897 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of Newmont by 172.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock worth $362,888,000 after buying an additional 2,723,044 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Company Profile

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.