Brokerages Set Newmont Corporation (NYSE:NEM) Price Target at $131.94

Newmont Corporation (NYSE:NEM) has received an average recommendation of “Moderate Buy” from the twenty-one analysts that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $131.9389.

A number of brokerages have recently commented on NEM. The Goldman Sachs Group lifted their target price on shares of Newmont from $99.90 to $123.90 and gave the company a “buy” rating in a report on Monday, January 12th. National Bank Financial lifted their price objective on shares of Newmont from $120.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Royal Bank Of Canada increased their target price on shares of Newmont from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. BNP Paribas Exane raised their price target on Newmont from $97.00 to $123.00 and gave the stock a “neutral” rating in a report on Thursday, February 12th. Finally, Canaccord Genuity Group upped their price objective on Newmont from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, January 23rd.

Newmont Stock Up 2.1%

Newmont stock opened at $124.84 on Monday. The company has a market capitalization of $136.23 billion, a P/E ratio of 19.39, a PEG ratio of 1.02 and a beta of 0.40. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. Newmont has a fifty-two week low of $41.23 and a fifty-two week high of $134.88. The stock has a 50-day simple moving average of $112.12 and a 200-day simple moving average of $92.35.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the transaction, the director owned 32,709 shares in the company, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.05% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after purchasing an additional 1,847 shares in the last quarter. Woodline Partners LP lifted its holdings in shares of Newmont by 40.7% in the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock valued at $4,644,000 after buying an additional 27,813 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Newmont in the second quarter valued at approximately $240,000. CWM LLC grew its holdings in Newmont by 137.6% during the second quarter. CWM LLC now owns 44,356 shares of the basic materials company’s stock worth $2,584,000 after acquiring an additional 25,686 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its position in Newmont by 162.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 22,972 shares of the basic materials company’s stock worth $1,338,000 after acquiring an additional 14,218 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

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.