Newmont (NYSE:NEM) Price Target Raised to $126.00

Newmont (NYSE:NEM) had its target price upped by investment analysts at Macquarie Infrastructure from $115.00 to $126.00 in a report released on Friday,MarketScreener reports. The firm currently has an “outperform” rating on the basic materials company’s stock. Macquarie Infrastructure’s price objective suggests a potential upside of 9.31% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. Argus lifted their target price on shares of Newmont from $75.00 to $94.00 in a research report on Friday, November 21st. Bank of America lifted their price objective on Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. UBS Group reissued a “buy” rating and issued a $160.00 target price on shares of Newmont in a research note on Friday, January 30th. Weiss Ratings restated a “buy (b-)” rating on shares of Newmont in a research report on Monday, December 29th. Finally, Scotiabank boosted their price objective on Newmont from $114.00 to $152.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Four analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Newmont has a consensus rating of “Buy” and a consensus target price of $124.83.

Newmont Trading Up 6.2%

NEM stock opened at $115.27 on Friday. The company has a market capitalization of $125.79 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 0.83 and a beta of 0.40. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. Newmont has a one year low of $41.23 and a one year high of $134.88. The company’s 50 day moving average price is $107.05 and its two-hundred day moving average price is $88.80.

Insider Buying and Selling at Newmont

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

Institutional Trading of Newmont

A number of hedge funds have recently modified their holdings of NEM. GoalVest Advisory LLC purchased a new position in Newmont during the 4th quarter valued at about $25,000. Physician Wealth Advisors Inc. increased its stake in shares of 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 lifted its holdings in shares of Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 385 shares during the last quarter. Cornerstone Planning Group LLC boosted its position in shares of Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 206 shares in the last quarter. Finally, JPL Wealth Management LLC purchased a new stake in shares of Newmont in the 3rd quarter worth approximately $27,000. Institutional investors own 68.85% of the company’s stock.

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.