BNP Paribas Exane Raises Newmont (NYSE:NEM) Price Target to $123.00

Newmont (NYSE:NEM) had its price target boosted by investment analysts at BNP Paribas Exane from $97.00 to $123.00 in a research note issued on Thursday,MarketScreener reports. The brokerage currently has a “neutral” rating on the basic materials company’s stock. BNP Paribas Exane’s price target suggests a potential downside of 2.31% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. The Goldman Sachs Group upped their target price on shares of Newmont from $99.90 to $123.90 and gave the stock a “buy” rating in a report on Monday, January 12th. Raymond James Financial boosted their price objective on shares of Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, January 15th. BMO Capital Markets increased their price objective on Newmont from $114.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Macquarie Infrastructure upped their price objective on Newmont from $115.00 to $126.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Finally, Jefferies Financial Group boosted their price objective on shares of Newmont from $120.00 to $136.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.94.

Newmont Trading Up 6.6%

NYSE:NEM traded up $7.79 on Thursday, hitting $125.91. 7,619,113 shares of the stock were exchanged, compared to its average volume of 10,645,593. Newmont has a fifty-two week low of $41.23 and a fifty-two week high of $134.88. The stock has a fifty day moving average of $110.21 and a 200-day moving average of $90.86. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. The stock has a market cap of $137.40 billion, a PE ratio of 19.55, a PEG ratio of 0.99 and a beta of 0.40.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the sale, the director owned 32,709 shares in the company, valued at $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.05% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Newmont

A number of institutional investors have recently modified their holdings of NEM. Brighton Jones LLC boosted its holdings in shares of Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after buying an additional 1,847 shares during the period. Woodline Partners LP increased its holdings in shares of 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 purchasing an additional 27,813 shares during the period. Sivia Capital Partners LLC bought a new position in Newmont in the 2nd quarter valued at about $240,000. CWM LLC boosted its stake in Newmont by 137.6% during the 2nd quarter. CWM LLC now owns 44,356 shares of the basic materials company’s stock valued at $2,584,000 after purchasing an additional 25,686 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in Newmont by 20.6% during the second quarter. Sequoia Financial Advisors LLC now owns 18,606 shares of the basic materials company’s stock valued at $1,084,000 after purchasing an additional 3,172 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Key Headlines Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Gold rally is cited as the direct trigger for the rally in Newmont shares — bullion strength typically lifts Newmont’s revenue and margins. Why Newmont Corporation Stock Popped Today
• Positive Sentiment: Newmont has surged ~73% in six months on record gold prices and project progress, which supports investor sentiment and multiple expansion. Newmont Surges 73% in 6 Months: Buy, Sell or Hold the Stock?
• Positive Sentiment: Analysts expect earnings growth for the quarter, raising the probability of an earnings beat and giving upside risk into the report. Newmont Corporation (NEM) Earnings Expected to Grow: Should You Buy?
• Positive Sentiment: Zacks style/momentum analyses highlight Newmont as a strong momentum stock, which can attract trend-following and quant flows. Here’s Why Newmont Corporation (NEM) is a Strong Momentum Stock
• Neutral Sentiment: Bank of America slightly trimmed its price target to $134 but kept a Buy rating — a modest model tweak that signals continued analyst support rather than a negative reassessment. Bank of America Slightly Lowers its Price Target on Newmont Corporation (NEM) to $134 While Maintaining a Buy Rating
• Neutral Sentiment: Zacks’ deeper look at Q4 metrics beyond revenue/EPS identifies items (production, AISC, by?product credits) that could drive post?earnings reaction — watch those line items. Exploring Analyst Estimates for Newmont (NEM) Q4 Earnings, Beyond Revenue and EPS
• Neutral Sentiment: Reminder: Newmont is projected to report quarterly results this week; the print and any guidance will likely be the next major catalyst. Newmont (NEM) Projected to Post Quarterly Earnings on Thursday
• Negative Sentiment: Separately, Newmont underperformed some peers on Thursday, highlighting that relative performance risk exists even amid a gold rally. Newmont Corp. stock underperforms Thursday when compared to competitors

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.