JPMorgan Chase & Co. Reiterates Buy Rating for Newmont Mining Corp. (NEM)
Newmont Mining Corp. (NYSE:NEM)‘s stock had its “buy” rating reaffirmed by equities researchers at JPMorgan Chase & Co. in a research report issued on Tuesday, AR Network reports. They currently have a $40.00 price target on the stock. JPMorgan Chase & Co.’s target price indicates a potential upside of 51.75% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs Group Inc. initiated coverage on shares of Newmont Mining Corp. in a research note to investors on Friday, September 20th. They set a “neutral” rating on the stock. Separately, analysts at Barclays Capital downgraded shares of Newmont Mining Corp. from an “overweight” rating to an “equal weight” rating in a research note to investors on Thursday, September 5th. They now have a $36.00 price target on the stock, down previously from $42.00. Finally, analysts at Zacks upgraded shares of Newmont Mining Corp. from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, August 21st. They now have a $34.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. Newmont Mining Corp. has an average rating of “Hold” and a consensus target price of $41.16.
Shares of Newmont Mining Corp. (NYSE:NEM) traded down 3.02% on Tuesday, hitting $26.35. 7,933,189 shares of the company’s stock traded hands. Newmont Mining Corp. has a 1-year low of $26.29 and a 1-year high of $56.38. The stock’s 50-day moving average is $29.64 and its 200-day moving average is $31.76. The company’s market cap is $13.113 billion.
Newmont Mining Corporation is primarily a gold producer with operations and/or assets in the United States, Australia, Peru, Indonesia, Ghana, New Zealand and Mexico.
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