Newmont (NYSE:NEM) Price Target Raised to $126.00

Newmont (NYSE:NEM) had its price target increased by Macquarie Infrastructure from $115.00 to $126.00 in a research report sent to investors on Friday,MarketScreener reports. Macquarie Infrastructure currently has an outperform rating on the basic materials company’s stock.

Other research analysts have also recently issued research reports about the stock. National Bankshares boosted their price objective on shares of Newmont from $120.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Jefferies Financial Group boosted their target price on Newmont from $120.00 to $136.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Scotiabank upped their price target on Newmont from $114.00 to $152.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Raymond James Financial lifted their price objective on Newmont from $111.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, January 15th. Finally, BMO Capital Markets upped their target price on shares of Newmont from $114.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $124.83.

Newmont Stock Up 6.2%

Shares of NYSE:NEM opened at $115.27 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The firm has a market cap of $125.79 billion, a P/E ratio of 17.90, a P/E/G ratio of 0.88 and a beta of 0.40. Newmont has a 12 month low of $41.23 and a 12 month high of $134.88. The company’s 50-day moving average price is $107.05 and its two-hundred day moving average price is $89.18.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the company’s stock in a transaction that occurred on 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.05% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NEM. Norges Bank bought a new position in shares of Newmont during the second quarter worth about $919,170,000. Invesco Ltd. boosted its position in Newmont by 45.0% during the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock worth $908,152,000 after acquiring an additional 4,839,447 shares during the last quarter. Boston Partners grew its stake in shares of Newmont by 4,090.7% during the 2nd quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock worth $272,558,000 after acquiring an additional 4,532,263 shares in the last quarter. LSV Asset Management bought a new position in shares of Newmont during the 2nd quarter worth approximately $187,206,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of Newmont by 172.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock valued at $362,888,000 after purchasing an additional 2,723,044 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Company Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.