Newmont (NYSE:NEM) Price Target Raised to $140.00 at BMO Capital Markets

Newmont (NYSE:NEM) had its price target raised by equities research analysts at BMO Capital Markets from $115.00 to $140.00 in a research note issued to investors on Wednesday,MarketScreener reports. The firm presently has an “outperform” rating on the basic materials company’s stock. BMO Capital Markets’ price target suggests a potential upside of 27.90% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Raymond James Financial lifted their price objective on Newmont from $111.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, January 15th. UBS Group decreased their price objective on Newmont from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Royal Bank Of Canada lifted their price objective on Newmont from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. TD Cowen decreased their price objective on Newmont from $118.00 to $116.00 and set a “hold” rating for the company in a research note on Tuesday. Finally, TD decreased their price objective on Newmont from $118.00 to $116.00 and set a “hold” rating for the company in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.81.

Newmont Trading Down 2.1%

NEM traded down $2.39 during mid-day trading on Wednesday, reaching $109.46. The stock had a trading volume of 1,284,005 shares, compared to its average volume of 10,059,427. The stock has a market capitalization of $118.21 billion, a P/E ratio of 17.14, a P/E/G ratio of 0.84 and a beta of 0.46. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.02 and a current ratio of 2.29. The firm’s fifty day simple moving average is $114.89 and its two-hundred day simple moving average is $104.40. Newmont has a 52 week low of $48.27 and a 52 week high of $134.88.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 19th. The basic materials company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.71. Newmont had a return on equity of 23.28% and a net margin of 31.25%.The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.18 billion. During the same period last year, the company earned $1.40 EPS. The business’s quarterly revenue was up 20.6% compared to the same quarter last year. On average, equities analysts predict that Newmont will post 8.83 EPS for the current year.

Insider Activity

In other Newmont news, insider David James Fry sold 18,394 shares of Newmont stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the transaction, the insider directly owned 17,147 shares in the company, valued at approximately $1,911,033.15. The trade was a 51.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $113.09, for a total value of $339,270.00. Following the transaction, the executive vice president owned 52,315 shares in the company, valued at approximately $5,916,303.35. This represents a 5.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 24,394 shares of company stock worth $2,713,281. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Newmont

A number of institutional investors have recently modified their holdings of NEM. GoalVest Advisory LLC bought a new stake in shares of Newmont in the fourth quarter valued at about $25,000. Pinnacle Bancorp Inc. bought a new stake in shares of Newmont in the first quarter valued at about $25,000. Physician Wealth Advisors Inc. lifted its holdings in shares of Newmont by 327.8% in 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. Swiss RE Ltd. bought a new stake in shares of Newmont in the fourth quarter valued at about $26,000. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 206 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

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.