Newmont (NYSE:NEM) Trading 6.2% Higher Following Analyst Upgrade

Newmont Corporation (NYSE:NEM)’s share price was up 6.2% on Friday after Royal Bank Of Canada raised their price target on the stock from $120.00 to $125.00. Royal Bank Of Canada currently has an outperform rating on the stock. Newmont traded as high as $115.48 and last traded at $115.27. Approximately 10,799,853 shares traded hands during mid-day trading, an increase of 1% from the average daily volume of 10,640,356 shares. The stock had previously closed at $108.53.

Several other analysts also recently weighed in on the company. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Scotiabank upped their price target on shares of Newmont from $114.00 to $152.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Raymond James Financial increased their price target on shares of Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, January 15th. BMO Capital Markets raised their price target on shares of Newmont from $114.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Finally, National Bankshares boosted their price objective on shares of Newmont from $120.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $124.83.

Insider Buying and Selling

In other news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the sale, the director directly owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.05% of the company’s stock.

Key Stories Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont’s Ahafo North start in Ghana brings incremental production that supports the company’s growth story and near?term supply outlook, giving investors confidence in organic volume gains. Newmont’s Ahafofo North Start Adds Ghana Output To Growth Story
• Positive Sentiment: Macquarie raised its price target on NEM to $126 and kept an “outperform” rating — analyst upward revisions typically provide near?term buying support and signal expected upside versus the market. Macquarie Adjusts Price Target on Newmont to $126
• Positive Sentiment: National Bankshares published a bullish forecast for Newmont, flagging strong price appreciation potential — another confirmation from the sell?side that can attract buyers. National Bankshares Forecasts Strong Price Appreciation for Newmont (NYSE:NEM) Stock
• Neutral Sentiment: Jim Cramer mentioned Newmont on air in the context of comparing gold miners; his comments were not a strong buy signal (he suggested a caller holding AEM might not need NEM), so this is market color rather than a major catalyst. Jim Cramer on Investing in Newmont While Holding AEM
• Neutral Sentiment: Zacks highlighted basic?materials stocks that could beat earnings using its Earnings ESP tool; this broader sector attention can lift peers like Newmont around results season but isn’t a direct company catalyst. These 2 Basic Materials Stocks Could Beat Earnings
• Negative Sentiment: MarketBeat’s contrarian piece warns gold and precious?metals miners may be due for a pullback and explicitly cautions against chasing miners including Newmont — that narrative can trigger profit?taking from momentum traders. 3 Contrarian “Buy the Dip” Picks—and One Area to Avoid

Institutional Trading of Newmont

Several large investors have recently bought and sold shares of NEM. Apella Capital LLC lifted its stake in shares of Newmont by 4.1% in the 4th quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock valued at $219,000 after purchasing an additional 86 shares during the period. New Wave Wealth Advisors LLC raised its holdings in Newmont by 1.3% in the fourth quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock worth $684,000 after purchasing an additional 88 shares in the last quarter. Novem Group lifted its position in Newmont by 3.7% during the fourth quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock valued at $248,000 after buying an additional 88 shares during the period. Norden Group LLC lifted its position in Newmont by 0.7% during the fourth quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock valued at $1,235,000 after buying an additional 90 shares during the period. Finally, Coston McIsaac & Partners boosted its holdings in shares of Newmont by 28.6% during the 4th quarter. Coston McIsaac & Partners now owns 450 shares of the basic materials company’s stock valued at $44,000 after buying an additional 100 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Stock Up 6.2%

The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The stock’s 50-day moving average price is $107.05 and its two-hundred day moving average price is $88.99. The stock has a market capitalization of $125.79 billion, a PE ratio of 17.90, a P/E/G ratio of 0.88 and a beta of 0.40.

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.