Goldman Sachs Group Inc. Reiterates “Hold” Rating for Newmont Mining Corp. (NEM)
Newmont Mining Corp. (NYSE:NEM)‘s stock had its “hold” rating reiterated by stock analysts at Goldman Sachs Group Inc. in a report issued on Monday, American Banking News reports. They currently have a $28.00 target price on the stock. Goldman Sachs Group Inc.’s target price would indicate a potential upside of 8.78% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. reiterated a “buy” rating on shares of Newmont Mining Corp. in a research note to investors on Tuesday, October 8th. They now have a $40.00 price target 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 given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $40.34.
Newmont Mining Corp. (NYSE:NEM) traded up 0.47% on Monday, hitting $25.74. The stock had a trading volume of 6,981,376 shares. Newmont Mining Corp. has a 52-week low of $25.50 and a 52-week high of $56.38. The stock’s 50-day moving average is $29.05 and its 200-day moving average is $31.50. The company’s market cap is $12.810 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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