TD Securities Analysts Give Newmont Mining Corporation (NEM) a $42.00 Price Target
Newmont Mining Corporation (NYSE:NEM) has been assigned a $42.00 target price by TD Securities in a research note issued on Thursday. The firm currently has a “hold” rating on the basic materials company’s stock. TD Securities’ target price suggests a potential upside of 11.14% from the company’s previous close.
A number of other research firms also recently issued reports on NEM. TheStreet upgraded shares of Newmont Mining Corporation from a “c+” rating to a “b” rating in a report on Wednesday, October 11th. Zacks Investment Research upgraded shares of Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Wednesday. Royal Bank Of Canada set a $41.00 target price on shares of Newmont Mining Corporation and gave the company a “hold” rating in a report on Monday, August 28th. Argus upgraded shares of Newmont Mining Corporation from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Thursday, July 27th. Finally, BidaskClub upgraded shares of Newmont Mining Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Newmont Mining Corporation has a consensus rating of “Buy” and an average price target of $40.59.
Newmont Mining Corporation (NYSE NEM) traded down 0.13% during midday trading on Thursday, reaching $37.79. 3,477,638 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $38.12 and its 200-day moving average price is $35.34. The company’s market capitalization is $20.15 billion. Newmont Mining Corporation has a 1-year low of $30.19 and a 1-year high of $39.63.
Newmont Mining Corporation (NYSE:NEM) last released its earnings results on Tuesday, July 25th. The basic materials company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.20. Newmont Mining Corporation had a negative net margin of 6.73% and a positive return on equity of 6.67%. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the firm earned $0.44 earnings per share. Newmont Mining Corporation’s revenue was up 12.3% compared to the same quarter last year. Equities analysts expect that Newmont Mining Corporation will post $1.42 EPS for the current year.
In other news, EVP William N. Macgowan sold 2,007 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $36.59, for a total transaction of $73,436.13. Following the completion of the transaction, the executive vice president now owns 127,178 shares in the company, valued at $4,653,443.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Thomas Ronald Palmer sold 1,250 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $37.35, for a total transaction of $46,687.50. Following the transaction, the chief operating officer now owns 88,112 shares of the company’s stock, valued at approximately $3,290,983.20. The disclosure for this sale can be found here. Insiders have sold 29,707 shares of company stock valued at $1,120,866 in the last 90 days. Insiders own 0.32% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. MUFG Securities EMEA plc bought a new position in shares of Newmont Mining Corporation during the second quarter worth about $12,341,000. Boyer & Corporon Wealth Management LLC grew its position in Newmont Mining Corporation by 9.4% in the 2nd quarter. Boyer & Corporon Wealth Management LLC now owns 116,703 shares of the basic materials company’s stock valued at $3,780,000 after buying an additional 10,048 shares in the last quarter. Neuberger Berman Group LLC grew its position in Newmont Mining Corporation by 9.6% in the 2nd quarter. Neuberger Berman Group LLC now owns 2,281,035 shares of the basic materials company’s stock valued at $73,883,000 after buying an additional 200,466 shares in the last quarter. Cypress Capital Group bought a new position in Newmont Mining Corporation in the 1st quarter valued at about $335,000. Finally, Seven Eight Capital LP bought a new position in Newmont Mining Corporation in the 2nd quarter valued at about $874,000. Institutional investors and hedge funds own 81.06% of the company’s stock.
Newmont Mining Corporation Company Profile
Newmont Mining Corporation is a mining company, which is focused on the production of and exploration for gold and copper. The Company is primarily a gold producer with operations and/or assets in the United States, Australia, Peru, Ghana and Suriname. The Company’s segments include North America, South America, Asia Pacific and Africa.
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