Newmont (NYSE:NEM) Stock Price Down 5.2% – Time to Sell?

Newmont Corporation (NYSE:NEM) was down 5.2% during trading on Thursday . The company traded as low as $118.04 and last traded at $118.0910. Approximately 9,239,318 shares were traded during mid-day trading, a decline of 10% from the average daily volume of 10,274,556 shares. The stock had previously closed at $124.60.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. The Goldman Sachs Group raised their target price on Newmont from $99.90 to $123.90 and gave the stock a “buy” rating in a report on Monday, January 12th. Scotiabank lifted their price objective on shares of Newmont from $114.00 to $152.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. National Bank Financial boosted their price objective on shares of Newmont from $120.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. TD Cowen upped their target price on shares of Newmont from $89.00 to $120.00 and gave the company a “hold” rating in a research note on Thursday, January 22nd. Finally, DZ Bank raised shares of Newmont to a “strong-buy” rating in a research report on Monday, January 19th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.49.

Newmont Stock Down 5.2%

The stock has a market capitalization of $128.87 billion, a price-to-earnings ratio of 18.34, a P/E/G ratio of 1.07 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. The firm’s fifty day simple moving average is $108.94 and its 200 day simple moving average is $90.23.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction dated 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 transaction, the director owned 32,709 shares in the company, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.05% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Johnson Financial Group Inc. boosted its position in Newmont by 7.0% during the 4th quarter. Johnson Financial Group Inc. now owns 30,393 shares of the basic materials company’s stock worth $3,035,000 after acquiring an additional 1,984 shares during the last quarter. Davis R M Inc. acquired a new stake in shares of Newmont in the fourth quarter valued at approximately $221,000. Rossby Financial LCC lifted its position in shares of Newmont by 139.5% in the fourth quarter. Rossby Financial LCC now owns 6,184 shares of the basic materials company’s stock worth $617,000 after purchasing an additional 3,602 shares in the last quarter. Bank of Jackson Hole Trust lifted its position in shares of Newmont by 130.0% in the fourth quarter. Bank of Jackson Hole Trust now owns 575 shares of the basic materials company’s stock worth $57,000 after purchasing an additional 325 shares in the last quarter. Finally, Insigneo Advisory Services LLC acquired a new position in Newmont during the fourth quarter worth $534,000. 68.85% of the stock is owned by institutional investors and hedge funds.

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.