Newmont (NYSE:NEM) Price Target Cut to $154.00 by Analysts at Jefferies Financial Group

Newmont (NYSE:NEM) had its target price lowered by stock analysts at Jefferies Financial Group from $165.00 to $154.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Jefferies Financial Group’s target price suggests a potential upside of 42.35% from the stock’s current price.

NEM has been the subject of several other research reports. BNP Paribas Exane raised their price objective on shares of Newmont from $123.00 to $128.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Bank of America increased their target price on shares of Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a report on Thursday, February 26th. BMO Capital Markets lifted their price target on shares of Newmont from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. The Goldman Sachs Group boosted their price target on Newmont from $123.20 to $125.10 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, Scotiabank lowered their price target on Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a report on Friday, March 20th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $141.53.

Newmont Price Performance

NEM stock traded down $3.42 on Wednesday, reaching $108.19. 2,360,199 shares of the company’s stock were exchanged, compared to its average volume of 9,424,159. The stock has a fifty day moving average of $110.94 and a 200-day moving average of $108.60. The firm has a market cap of $115.49 billion, a PE ratio of 14.05 and a beta of 0.43. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. Newmont has a twelve month low of $51.80 and a twelve month high of $134.88.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same period in the previous year, the firm earned $1.25 EPS. The business’s revenue was up 45.8% on a year-over-year basis. As a group, equities analysts predict that Newmont will post 9.47 EPS for the current fiscal year.

Insider Buying and Selling at Newmont

In other Newmont news, insider David John Thornton sold 2,296 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $252,812.56. Following the sale, the insider owned 23,163 shares in the company, valued at approximately $2,550,477.93. This represents a 9.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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. Also, EVP Peter Wexler sold 13,378 shares of the business’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $1,473,051.58. Following the completion of the transaction, the executive vice president directly owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. This trade represents a 16.47% 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. Insiders sold 43,068 shares of company stock worth $4,769,475 over the last ninety days. 0.06% of the stock is currently owned by company insiders.

Institutional Trading of Newmont

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEM. GoalVest Advisory LLC purchased a new stake in shares of Newmont during the fourth quarter worth about $25,000. Pinnacle Bancorp Inc. purchased a new position in shares of Newmont during the first quarter valued at approximately $25,000. Cedar Mountain Advisors LLC acquired a new stake in Newmont during the first quarter worth approximately $25,000. Physician Wealth Advisors Inc. boosted its position in Newmont by 327.8% during the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 236 shares during the last quarter. Finally, Swiss RE Ltd. purchased a new stake in Newmont in the 4th quarter worth approximately $26,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

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.