Newmont (NYSE:NEM) Downgraded to “Neutral” Rating by BNP Paribas Exane

Newmont (NYSE:NEM) was downgraded by equities researchers at BNP Paribas Exane from an “outperform” rating to a “neutral” rating in a research note issued to investors on Friday,Finviz reports. They currently have a $97.00 price target on the basic materials company’s stock. BNP Paribas Exane’s price objective would suggest a potential upside of 6.92% from the company’s previous close.

NEM has been the topic of several other research reports. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Argus lifted their price target on Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. National Bankshares reaffirmed an “outperform” rating on shares of Newmont in a report on Monday, September 22nd. Royal Bank Of Canada increased their price objective on Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Finally, Citigroup raised their target price on Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Four analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and a consensus price target of $93.22.

Newmont Stock Up 1.2%

NEM stock opened at $90.72 on Friday. The stock has a market capitalization of $99.00 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 0.62 and a beta of 0.41. The company has a fifty day moving average of $86.82 and a 200-day moving average of $72.22. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. Newmont has a one year low of $36.86 and a one year high of $98.58.

Newmont (NYSE:NEM) last issued its quarterly 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 business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The business’s revenue was up 20.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.81 earnings per share. As a group, analysts expect that Newmont will post 3.45 EPS for the current year.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was 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 in the company, valued at $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the transaction, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at $22,768,936.82. This trade represents a 1.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 11,240 shares of company stock valued at $943,985. 0.05% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Newmont

A number of large investors have recently added to or reduced their stakes in NEM. Envestnet Asset Management Inc. lifted its stake in shares of Newmont by 176.4% during the second quarter. Envestnet Asset Management Inc. now owns 447,960 shares of the basic materials company’s stock valued at $26,098,000 after buying an additional 285,897 shares during the period. Knights of Columbus Asset Advisors LLC grew its stake in Newmont by 59.6% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock worth $912,000 after acquiring an additional 5,848 shares during the period. Generate Investment Management Ltd raised its holdings in Newmont by 25.9% in the 2nd quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock valued at $22,079,000 after acquiring an additional 77,865 shares during the last quarter. Midwest Trust Co acquired a new position in Newmont in the 2nd quarter valued at $4,424,000. Finally, Kaizen Financial Strategies purchased a new position in shares of Newmont during the 2nd quarter worth $202,000. 68.85% of the stock is owned by institutional investors and hedge funds.

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.