Newmont (NYSE:NEM) Upgraded by DZ Bank to “Strong-Buy” Rating

Newmont (NYSE:NEM) was upgraded by investment analysts at DZ Bank to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on NEM. TD Securities raised their price objective on Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a research report on Wednesday, October 8th. Raymond James Financial raised their price target on shares of Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, January 15th. Zacks Research downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Argus increased their target price on shares of Newmont from $75.00 to $94.00 in a research report on Friday, November 21st. Finally, Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $71.50 to $114.00 in a report on Thursday, October 23rd. Six 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $99.35.

Newmont Price Performance

NYSE NEM opened at $119.06 on Monday. The company has a market cap of $129.92 billion, a PE ratio of 18.49, a P/E/G ratio of 0.80 and a beta of 0.41. Newmont has a 52-week low of $40.85 and a 52-week high of $119.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The firm’s 50 day moving average price is $98.68 and its 200-day moving average price is $83.64.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The company had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the prior year, the business earned $0.81 earnings per share. Newmont’s revenue was up 20.0% on a year-over-year basis. Sell-side analysts forecast that Newmont will post 3.45 EPS for the current fiscal year.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the transaction, the director directly owned 32,709 shares in the company, 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 document filed with the SEC, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the sale, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at $22,768,936.82. This trade represents a 1.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,160 shares of company stock worth $767,206 over the last three months. Corporate insiders own 0.05% of the company’s stock.

Institutional Trading of Newmont

Several large investors have recently made changes to their positions in NEM. Envestnet Asset Management Inc. boosted its stake in shares of Newmont by 176.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 447,960 shares of the basic materials company’s stock worth $26,098,000 after acquiring an additional 285,897 shares in the last quarter. Knights of Columbus Asset Advisors LLC increased its stake in Newmont by 59.6% during the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock worth $912,000 after buying an additional 5,848 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Newmont by 172.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock valued at $362,888,000 after acquiring an additional 2,723,044 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Newmont by 73.3% in the third quarter. Farther Finance Advisors LLC now owns 30,056 shares of the basic materials company’s stock valued at $2,534,000 after acquiring an additional 12,717 shares in the last quarter. Finally, Generate Investment Management Ltd boosted its stake in shares of Newmont by 25.9% in the second quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock worth $22,079,000 after acquiring an additional 77,865 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

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.