Newmont (NYSE:NEM) Given New $125.00 Price Target at National Bank Financial

Newmont (NYSE:NEM) had its price target decreased by investment analysts at National Bank Financial from $140.00 to $125.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the basic materials company’s stock. National Bank Financial’s price target would suggest a potential upside of 32.37% from the company’s current price.

NEM has been the subject of a number of other reports. TD increased their target price on Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a research note on Monday, April 27th. Wall Street Zen downgraded Newmont from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 30th. TD Cowen reaffirmed a “buy” rating on shares of Newmont in a research report on Monday, April 27th. Canaccord Genuity Group lifted their target price on Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, Bank of America decreased their price target on shares of Newmont from $157.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $136.64.

Newmont Trading Up 1.4%

NYSE:NEM traded up $1.33 during trading hours on Tuesday, hitting $94.43. 4,605,812 shares of the stock were exchanged, compared to its average volume of 9,257,697. The company has a market capitalization of $100.81 billion, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 1.08 and a beta of 0.46. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $103.98 and its two-hundred day moving average is $110.59. Newmont has a twelve month low of $55.37 and a twelve month high of $134.88.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same period last year, the firm earned $1.25 EPS. The business’s revenue for the quarter was up 45.8% on a year-over-year basis. On average, sell-side analysts anticipate that Newmont will post 9.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Newmont

In other news, EVP Peter Wexler sold 13,378 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $1,473,051.58. Following the sale, the executive vice president directly owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. This represents a 16.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the sale, the chief executive officer owned 142,999 shares of the company’s stock, valued at approximately $15,060,654.68. The trade was a 2.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 28,556 shares of company stock valued at $3,058,146. Insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. CWM LLC increased its holdings in Newmont by 64.6% in the 4th quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock worth $20,259,000 after acquiring an additional 79,617 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Newmont by 24.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock worth $30,775,000 after purchasing an additional 54,530 shares in the last quarter. Leonteq Securities AG bought a new stake in Newmont during the fourth quarter valued at $9,018,000. ARS Investment Partners LLC boosted its position in shares of Newmont by 3.6% during the 4th quarter. ARS Investment Partners LLC now owns 697,063 shares of the basic materials company’s stock valued at $69,602,000 after acquiring an additional 23,900 shares during the last quarter. Finally, Ritholtz Wealth Management grew its stake in Newmont by 67.0% in the 4th quarter. Ritholtz Wealth Management now owns 40,754 shares of the basic materials company’s stock worth $4,069,000 after buying an additional 16,352 shares in the last quarter. 68.85% of the stock is 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.