Newmont (NYSE:NEM) Upgraded by Zacks Research to “Strong-Buy” Rating

Newmont (NYSE:NEM) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other brokerages also recently commented on NEM. UBS Group decreased their price objective on shares of Newmont from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, March 27th. Jefferies Financial Group raised their target price on shares of Newmont from $154.00 to $158.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Citigroup lifted their price target on Newmont from $118.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. National Bank Financial boosted their price target on Newmont from $130.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Finally, Royal Bank Of Canada dropped their price objective on Newmont from $160.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 3rd. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $141.79.

Newmont Stock Up 2.5%

NYSE:NEM opened at $108.46 on Monday. Newmont has a twelve month low of $55.37 and a twelve month high of $134.88. The firm has a market capitalization of $115.79 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 1.75 and a beta of 0.42. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average price is $110.66 and its two-hundred day moving average price is $110.41.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.83. The business had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The firm’s revenue was up 45.8% on a year-over-year basis. During the same period last year, the business earned $1.25 earnings per share. Equities research analysts expect that Newmont will post 9.91 earnings per share for the current fiscal year.

Insider Activity at Newmont

In related news, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $408,852.24. Following the transaction, the chief executive officer owned 142,999 shares in the company, valued at approximately $15,060,654.68. This represents a 2.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $252,812.56. Following the completion of the transaction, the insider directly owned 23,163 shares in the company, valued at approximately $2,550,477.93. This represents a 9.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 28,556 shares of company stock worth $3,120,276. 0.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Newmont

Large investors have recently made changes to their positions in the company. GoalVest Advisory LLC acquired a new position in Newmont in the 4th quarter valued at $25,000. Pinnacle Bancorp Inc. acquired a new stake in shares of Newmont during the first quarter worth $25,000. Cedar Mountain Advisors LLC acquired a new stake in shares of Newmont during the first quarter worth $25,000. 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 boosted its position 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 acquiring an additional 206 shares during the period. Institutional investors own 68.85% of the company’s stock.

Trending Headlines about Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont announced key executive appointments, naming veteran insiders to the CFO, COO, and CTO roles starting July 1. Investors often view management continuity and promoting experienced leaders as a sign of operational stability and smoother execution. Newmont Announces Key Executive Appointments for the Next Phase of Delivery
• Positive Sentiment: Several recent commentaries highlighted Newmont as a value idea and a Zacks Rank #1 stock, which can boost investor interest and reinforce the bullish case for the shares. Best Value Stocks to Buy for June 16th
• Positive Sentiment: Gold-price optimism is helping sentiment around Newmont, with reports suggesting the recent gold pullback may be more of a reset than a trend reversal. As one of the largest gold miners, Newmont tends to benefit when investors expect gold to rebound. Gold’s Correction Looks More Like a Reset. Newmont and These 4 Stocks Are Buys.
• Neutral Sentiment: Analyst and media coverage continues to keep Newmont in focus, including pieces on whether the stock remains attractive versus peers like Agnico Eagle Mines. This keeps attention high, but does not by itself change fundamentals. NEM or AEM: Which Is the Better Value Stock Right Now?
• Negative Sentiment: One note of caution is that Macquarie trimmed its price target on Newmont, even while keeping an outperform rating. That kind of revision can temper enthusiasm if investors worry about near-term upside. Macquarie adjusts price target on Newmont

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.