Newmont (NYSE:NEM – Get Rating) had its price objective decreased by equities researchers at Barclays from $68.00 to $60.00 in a research report issued on Tuesday, The Fly reports. Barclays’s price objective would suggest a potential upside of 9.47% from the stock’s current price.
Several other research analysts have also weighed in on NEM. StockNews.com initiated coverage on shares of Newmont in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Canaccord Genuity Group lowered their price objective on shares of Newmont from $87.00 to $80.00 and set a “hold” rating on the stock in a research note on Tuesday, April 26th. National Bank Financial lowered shares of Newmont from an “outperform” rating to a “sector perform” rating and set a $94.28 price objective on the stock. in a research note on Wednesday, April 20th. They noted that the move was a valuation call. Sanford C. Bernstein lowered shares of Newmont from an “outperform” rating to a “market perform” rating and set a $57.00 price objective on the stock. in a research note on Monday, April 25th. Finally, Fundamental Research restated a “buy” rating and set a $79.52 price objective on shares of Newmont in a research note on Tuesday, May 10th. Fifteen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $75.49.
Newmont Trading Up 0.1 %
Shares of NYSE NEM opened at $54.81 on Tuesday. The stock has a market cap of $43.50 billion, a price-to-earnings ratio of 41.84 and a beta of 0.43. Newmont has a twelve month low of $52.60 and a twelve month high of $86.37. The company’s fifty day moving average is $64.04 and its 200-day moving average is $68.31. The company has a quick ratio of 2.53, a current ratio of 2.92 and a debt-to-equity ratio of 0.28.Newmont (NYSE:NEM – Get Rating) last issued its quarterly earnings results on Friday, April 22nd. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.02). Newmont had a net margin of 8.53% and a return on equity of 10.24%. The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Equities research analysts predict that Newmont will post 3.27 EPS for the current year.
Insider Transactions at Newmont
In other news, CEO Thomas Ronald Palmer sold 11,000 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $59.43, for a total transaction of $653,730.00. Following the transaction, the chief executive officer now directly owns 265,949 shares of the company’s stock, valued at $15,805,349.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Thomas Ronald Palmer sold 11,000 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $59.43, for a total transaction of $653,730.00. Following the sale, the chief executive officer now owns 265,949 shares in the company, valued at approximately $15,805,349.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Robert D. Atkinson sold 3,000 shares of the stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $71.20, for a total transaction of $213,600.00. Following the sale, the chief operating officer now owns 70,617 shares in the company, valued at approximately $5,027,930.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,000 shares of company stock valued at $3,657,300. 0.11% of the stock is currently owned by company insiders.
Institutional Trading of Newmont
Large investors have recently made changes to their positions in the company. Money Concepts Capital Corp boosted its position in Newmont by 1.6% in the second quarter. Money Concepts Capital Corp now owns 16,706 shares of the basic materials company’s stock valued at $1,022,000 after buying an additional 270 shares in the last quarter. Farmers Trust Co. boosted its position in Newmont by 26.0% in the second quarter. Farmers Trust Co. now owns 62,113 shares of the basic materials company’s stock valued at $3,706,000 after buying an additional 12,803 shares in the last quarter. Kercheville Advisors LLC boosted its position in Newmont by 36.6% in the second quarter. Kercheville Advisors LLC now owns 31,750 shares of the basic materials company’s stock valued at $1,895,000 after buying an additional 8,500 shares in the last quarter. Clean Yield Group acquired a new stake in Newmont in the second quarter valued at approximately $60,000. Finally, Equitable Trust Co. boosted its position in Newmont by 1.8% in the second quarter. Equitable Trust Co. now owns 31,415 shares of the basic materials company’s stock valued at $1,875,000 after buying an additional 551 shares in the last quarter. Institutional investors and hedge funds own 78.41% of the company’s stock.
About Newmont
Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.