Newmont Corporation (NYSE:NEM) Receives Consensus Rating of “Buy” from Analysts

Newmont Corporation (NYSE:NEM) has earned an average recommendation of “Buy” from the twenty-three research firms that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and six have issued a strong buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $105.8833.

Several equities research analysts have recently commented on the stock. DZ Bank upgraded shares of Newmont to a “strong-buy” rating in a research report on Monday, January 19th. TD Cowen raised their price objective on shares of Newmont from $89.00 to $120.00 and gave the company a “hold” rating in a research note on Thursday, January 22nd. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. CIBC set a $112.00 price target on Newmont and gave the company an “outperformer” rating in a research note on Friday, October 10th. Finally, UBS Group raised their price target on Newmont from $105.50 to $125.00 and gave the stock a “buy” rating in a research report on Monday, December 1st.

Newmont Price Performance

Shares of NEM stock opened at $125.97 on Thursday. The firm has a market cap of $137.46 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 0.95 and a beta of 0.41. Newmont has a 12 month low of $40.85 and a 12 month high of $129.25. 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 stock has a 50-day moving average price of $101.35 and a 200 day moving average price of $85.43.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the transaction, the director directly owned 32,709 shares in the company, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the transaction, the chief executive officer owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 9,160 shares of company stock worth $767,206. Company insiders own 0.05% of the company’s stock.

Institutional Trading of Newmont

Large investors have recently made changes to their positions in the company. Tanager Wealth Management LLP bought a new position in Newmont during the fourth quarter worth about $237,000. Patriot Financial Group Insurance Agency LLC raised its position in shares of Newmont by 12.2% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 33,331 shares of the basic materials company’s stock worth $3,328,000 after purchasing an additional 3,615 shares during the period. Moss Adams Wealth Advisors LLC lifted its holdings in shares of Newmont by 7.6% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 3,723 shares of the basic materials company’s stock valued at $372,000 after purchasing an additional 263 shares in the last quarter. SMART Wealth LLC lifted its holdings in shares of Newmont by 8.7% during the 4th quarter. SMART Wealth LLC now owns 8,261 shares of the basic materials company’s stock valued at $825,000 after purchasing an additional 661 shares in the last quarter. Finally, Merit Financial Group LLC grew its position in shares of Newmont by 48.0% in the 4th quarter. Merit Financial Group LLC now owns 59,084 shares of the basic materials company’s stock valued at $5,900,000 after purchasing an additional 19,168 shares during the period. Institutional investors 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.