Newmont (NYSE:NEM) Price Target Raised to $133.00

Newmont (NYSE:NEM) had its target price boosted by research analysts at TD from $127.00 to $133.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. TD’s target price points to a potential upside of 12.40% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Bank of America reduced their price target on shares of Newmont from $157.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Weiss Ratings cut Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Royal Bank Of Canada cut their target price on Newmont from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Wall Street Zen lowered Newmont from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Macquarie Infrastructure decreased their price target on Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a research note on Monday, June 15th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Newmont presently has an average rating of “Moderate Buy” and an average price target of $132.50.

Newmont Stock Up 1.0%

NEM stock traded up $1.12 during trading on Wednesday, hitting $118.33. 4,026,939 shares of the stock traded hands, compared to its average volume of 9,051,165. Newmont has a 1 year low of $67.20 and a 1 year high of $134.88. The firm’s 50 day moving average is $98.25 and its two-hundred day moving average is $109.01. The stock has a market cap of $124.68 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 1.31 and a beta of 0.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.05. The business had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same period in the previous year, the company earned $1.43 earnings per share. On average, sell-side analysts anticipate that Newmont will post 9 EPS for the current year.

Insider Buying and Selling

In other news, CFO Brian Tabolt sold 11,445 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the transaction, the chief financial officer directly owned 29,324 shares of the company’s stock, valued at $3,081,659.16. This represents a 28.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Natascha Viljoen sold 7,764 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the transaction, the chief executive officer directly owned 135,235 shares in the company, valued at $14,064,440. The trade was a 5.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 32,091 shares of company stock worth $3,292,513. 0.06% of the stock is owned by insiders.

Institutional Trading of Newmont

Hedge funds have recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after buying an additional 1,847 shares during the last quarter. Woodline Partners LP increased its holdings in Newmont by 40.7% during the first 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 last quarter. Sivia Capital Partners LLC bought a new position in Newmont in the second quarter worth approximately $240,000. Cerity Partners LLC raised its position in Newmont by 108.9% in the second quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock worth $7,303,000 after acquiring an additional 65,342 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in shares of Newmont by 8.5% during the 2nd quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock worth $2,854,000 after acquiring an additional 3,856 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

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.