Newmont (NYSE:NEM) Price Target Raised to $125.00 at Argus

Newmont (NYSE:NEM) had its price target hoisted by research analysts at Argus from $94.00 to $125.00 in a research note issued on Thursday,MarketScreener reports. The firm presently has a “buy” rating on the basic materials company’s stock. Argus’ price objective suggests a potential upside of 14.09% from the stock’s previous close.

Several other equities research analysts have also commented on NEM. BNP Paribas Exane upped their price target on shares of Newmont from $123.00 to $128.00 and gave the company a “neutral” rating in a report on Monday, March 2nd. TD Securities dropped their target price on shares of Newmont from $120.00 to $118.00 and set a “hold” rating on the stock in a research report on Tuesday, March 3rd. Scotiabank reduced their price objective on Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a research note on Friday, March 20th. UBS Group lowered their target price on Newmont from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, March 27th. Finally, Citigroup lifted their target price on shares of Newmont from $118.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.81.

Newmont Stock Performance

Shares of Newmont stock traded down $2.28 during midday trading on Thursday, hitting $109.57. The company had a trading volume of 680,330 shares, compared to its average volume of 10,052,459. Newmont has a 12-month low of $48.27 and a 12-month high of $134.88. The company has a fifty day simple moving average of $114.89 and a 200 day simple moving average of $104.40. The company has a quick ratio of 2.02, a current ratio of 2.29 and a debt-to-equity ratio of 0.16. The stock has a market cap of $118.33 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 0.84 and a beta of 0.46.

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

Insider Activity

In other news, insider David James Fry sold 18,394 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the sale, the insider owned 17,147 shares of the company’s stock, valued at approximately $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $113.09, for a total transaction of $339,270.00. Following the completion of the transaction, the executive vice president directly owned 52,315 shares of the company’s stock, valued at approximately $5,916,303.35. The trade was a 5.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 24,394 shares of company stock valued at $2,713,281. 0.06% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Apella Capital LLC increased its stake in shares of Newmont by 4.1% during the fourth quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock worth $219,000 after buying an additional 86 shares during the period. New Wave Wealth Advisors LLC increased its holdings in shares of Newmont by 1.3% in the 4th quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock valued at $684,000 after acquiring an additional 88 shares during the last quarter. Novem Group lifted its stake in Newmont by 3.7% during the fourth quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock worth $248,000 after purchasing an additional 88 shares during the last quarter. Norden Group LLC boosted its holdings in Newmont by 0.7% in the fourth quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock valued at $1,235,000 after purchasing an additional 90 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in Newmont by 1.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock valued at $714,000 after purchasing an additional 96 shares in the last quarter. 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.