Newmont (NYSE:NEM) Price Target Raised to $126.00

Newmont (NYSE:NEM) had its price objective hoisted by equities researchers at Macquarie Infrastructure from $115.00 to $126.00 in a note issued to investors on Friday,MarketScreener reports. The firm currently has an “outperform” rating on the basic materials company’s stock. Macquarie Infrastructure’s price target indicates a potential upside of 9.31% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. Raymond James Financial upped their price objective on Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, January 15th. Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Wall Street Zen lowered shares of Newmont from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 2nd. The Goldman Sachs Group raised their price target on shares of Newmont from $99.90 to $123.90 and gave the stock a “buy” rating in a research note on Monday, January 12th. Finally, BNP Paribas Exane cut shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price target on the stock. in a report on Friday, December 5th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $124.83.

Newmont Price Performance

Shares of NYSE NEM opened at $115.27 on Friday. 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 company has a market capitalization of $125.79 billion, a PE ratio of 17.90, a PEG ratio of 0.83 and a beta of 0.40. The stock’s 50 day moving average price is $107.05 and its 200-day moving average price is $88.80. Newmont has a twelve month low of $41.23 and a twelve month high of $134.88.

Insiders Place Their Bets

In other news, Director Bruce R. Brook sold 2,080 shares of the company’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 sale, the director directly owned 32,709 shares in the company, valued at $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.05% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NEM. Estate Counselors LLC purchased a new stake in Newmont in the third quarter valued at approximately $4,182,000. AustralianSuper Pty Ltd increased its holdings in shares of Newmont by 124.8% in the 3rd quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock worth $27,843,000 after buying an additional 183,360 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its position in shares of Newmont by 286.5% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company’s stock valued at $5,101,000 after buying an additional 44,846 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings 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 during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in Newmont by 172.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock worth $362,888,000 after acquiring an additional 2,723,044 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

About Newmont

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.