BMO Capital Markets Analysts Give Newmont Mining Corporation (NEM) a $45.00 Price Target
Newmont Mining Corporation (NYSE:NEM) has been assigned a $45.00 price target by BMO Capital Markets in a note issued to investors on Tuesday. The firm presently has a “buy” rating on the basic materials company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 24.04% from the company’s previous close.
Several other equities research analysts also recently commented on the company. Zacks Investment Research raised Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Wednesday, October 18th. Royal Bank Of Canada set a $41.00 price objective on Newmont Mining Corporation and gave the stock a “hold” rating in a research note on Monday, August 28th. TheStreet raised Newmont Mining Corporation from a “c+” rating to a “b” rating in a research note on Wednesday, October 11th. Credit Suisse Group set a $45.00 price objective on Newmont Mining Corporation and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Finally, TD Securities increased their price objective on Newmont Mining Corporation from $36.00 to $50.00 and gave the stock a “hold” rating in a research note on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $40.83.
Shares of Newmont Mining Corporation (NEM) opened at $36.28 on Tuesday. Newmont Mining Corporation has a fifty-two week low of $30.40 and a fifty-two week high of $39.63. The company has a market capitalization of $19,045.45, a price-to-earnings ratio of 25.69 and a beta of 0.11. The company has a current ratio of 4.18, a quick ratio of 3.58 and a debt-to-equity ratio of 0.33.
Newmont Mining Corporation (NYSE:NEM) last announced its earnings results on Thursday, October 26th. The basic materials company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. Newmont Mining Corporation had a return on equity of 6.20% and a net margin of 1.18%. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the business posted $0.38 earnings per share. Newmont Mining Corporation’s revenue was up 4.9% compared to the same quarter last year. sell-side analysts anticipate that Newmont Mining Corporation will post 1.44 EPS for the current year.
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In other news, CEO Gary J. Goldberg sold 1,000 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $36.44, for a total transaction of $36,440.00. Following the transaction, the chief executive officer now owns 334,730 shares of the company’s stock, valued at approximately $12,197,561.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Thomas Ronald Palmer sold 1,250 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $36.44, for a total value of $45,550.00. Following the transaction, the chief operating officer now directly owns 86,862 shares in the company, valued at approximately $3,165,251.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,700 shares of company stock worth $1,042,103. 0.32% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Smith Affiliated Capital Corp. boosted its stake in Newmont Mining Corporation by 8.6% during the 2nd quarter. Smith Affiliated Capital Corp. now owns 3,800 shares of the basic materials company’s stock valued at $123,000 after purchasing an additional 300 shares during the period. Sun Life Financial INC boosted its stake in Newmont Mining Corporation by 43,144.4% during the 2nd quarter. Sun Life Financial INC now owns 3,892 shares of the basic materials company’s stock valued at $126,000 after purchasing an additional 3,883 shares during the period. Tiedemann Wealth Management LLC boosted its stake in Newmont Mining Corporation by 66.5% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 14,862 shares of the basic materials company’s stock valued at $170,000 after purchasing an additional 5,938 shares during the period. Parametrica Management Ltd bought a new stake in Newmont Mining Corporation during the 3rd quarter valued at approximately $222,000. Finally, Timber Hill LLC bought a new stake in Newmont Mining Corporation during the 3rd quarter valued at approximately $260,000. Hedge funds and other institutional investors own 80.38% of the company’s stock.
About Newmont Mining Corporation
Newmont Mining Corporation is a mining company, which is focused on the production of and exploration for gold and copper. The Company is primarily a gold producer with operations and/or assets in the United States, Australia, Peru, Ghana and Suriname. The Company’s segments include North America, South America, Asia Pacific and Africa.
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