Newmont (NYSE:NEM) Price Target Raised to $145.00

Newmont (NYSE:NEM) had its price objective increased by BMO Capital Markets from $114.00 to $145.00 in a report released on Wednesday,MarketScreener reports. They currently have an outperform rating on the basic materials company’s stock.

A number of other equities analysts also recently issued reports on the company. Argus raised their price objective on Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. Canaccord Genuity Group increased their price target on Newmont from $115.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. CIBC set a $112.00 target price on Newmont and gave the company an “outperformer” rating in a research report on Friday, October 10th. Finally, UBS Group reissued a “buy” rating and issued a $160.00 price target on shares of Newmont in a report on Friday. Six analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $112.38.

Newmont Stock Down 11.5%

Shares of NEM stock traded down $14.63 during trading on Wednesday, reaching $112.30. The company’s stock had a trading volume of 19,140,888 shares, compared to its average volume of 9,360,039. Newmont has a one year low of $41.23 and a one year high of $134.88. The company has a market cap of $122.55 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 0.97 and a beta of 0.41. 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 business has a fifty day moving average price of $104.52 and a 200-day moving average price of $86.86.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction dated 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 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were 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 approximately $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 have sold 9,160 shares of company stock worth $767,206 in the last 90 days. Company insiders own 0.05% of the company’s stock.

Hedge Funds Weigh In On Newmont

Large investors have recently made changes to their positions in the business. GoalVest Advisory LLC bought a new position in shares of Newmont during the 4th quarter valued at approximately $25,000. Physician Wealth Advisors Inc. raised its stake in Newmont by 327.8% during the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 236 shares in the last quarter. Concord Wealth Partners grew its stake in shares of Newmont by 534.7% in the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after buying an additional 385 shares in the last quarter. JPL Wealth Management LLC bought a new stake in shares of Newmont in the 3rd quarter worth about $27,000. Finally, Lodestone Wealth Management LLC purchased a new stake in shares of Newmont during the 4th quarter valued at about $28,000. 68.85% of the stock is currently 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.