Newmont Mining Corp Upgraded to “Sector Perform” at CIBC (NEM,)
Newmont Mining Corp (NASDAQ:NEM,) was upgraded by research analysts at CIBC to a “sector perform” rating in a report released on Monday, Analyst Ratings Network reports. The firm currently has a $33.00 price objective on the stock, up from their previous price objective of $27.00.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank raised their price target on shares of Newmont Mining Corp from $19.00 to $21.00 in a research note on Monday, April 7th. They now have a “hold” rating on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Newmont Mining Corp from $21.00 to $26.00 in a research note on Friday, March 21st. Finally, analysts at Cowen and Company raised their price target on shares of Newmont Mining Corp from $27.60 to $31.14 in a research note on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $28.16.
Shares of Newmont Mining Corp (NASDAQ:NEM,) traded down 6.73% during mid-day trading on Monday, hitting $24.67. 16,927,676 shares of the company’s stock traded hands. Newmont Mining Corp has a one year low of $20.79 and a one year high of $35.44. The stock’s 50-day moving average is $24.53 and its 200-day moving average is $24.61. The company’s market cap is $12.299 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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