National Bankshares Boosts Newmont (NYSE:NEM) Price Target to $120.00

Newmont (NYSE:NEM) had its target price boosted by investment analysts at National Bankshares from $110.00 to $120.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. National Bankshares’ price objective suggests a potential upside of 27.34% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Jefferies Financial Group reiterated a “buy” rating and issued a $120.00 target price on shares of Newmont in a research report on Sunday. Citigroup lifted their price objective on shares of Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Argus increased their price objective on shares of Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. UBS Group boosted their target price on shares of Newmont from $105.50 to $125.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Finally, TD Securities upped their price target on shares of Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a report on Wednesday, October 8th. Five analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $96.37.

Newmont Trading Up 0.2%

NYSE:NEM opened at $94.23 on Tuesday. The company has a market capitalization of $102.83 billion, a P/E ratio of 14.63, a PEG ratio of 0.65 and a beta of 0.41. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.17. Newmont has a 12 month low of $36.86 and a 12 month high of $98.58. The firm has a fifty day simple moving average of $87.37 and a 200-day simple moving average of $73.46.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. The company had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter last year, the business posted $0.81 EPS. On average, equities research analysts anticipate that Newmont will post 3.45 earnings per share for the current year.

Insider Transactions at Newmont

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the sale, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at $22,768,936.82. This represents a 1.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the transaction, the director owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. This represents a 5.98% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 11,240 shares of company stock valued at $943,985. Insiders own 0.05% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Physician Wealth Advisors Inc. raised its position in Newmont by 327.8% during the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 236 shares during the period. Colonial Trust Advisors increased its stake in shares of Newmont by 315.4% during the first quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 429 shares in the last quarter. Concord Wealth Partners increased its stake in shares of Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 385 shares in the last quarter. JPL Wealth Management LLC acquired a new position in shares of Newmont during the 3rd quarter worth about $27,000. Finally, Evermay Wealth Management LLC lifted its stake in Newmont by 408.2% in the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.