BMO Capital Markets Boosts Newmont (NYSE:NEM) Price Target to $145.00

Newmont (NYSE:NEM) had its target price boosted by research analysts at BMO Capital Markets from $114.00 to $145.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The firm currently has an “outperform” rating on the basic materials company’s stock. BMO Capital Markets’ target price suggests a potential upside of 29.12% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Scotiabank lifted their price target on Newmont from $114.00 to $152.00 and gave the stock an “outperform” rating in a research note on Monday. DZ Bank upgraded shares of Newmont to a “strong-buy” rating in a research report on Monday, January 19th. Argus upped their price objective on Newmont from $75.00 to $94.00 in a report on Friday, November 21st. Canaccord Genuity Group raised their target price on shares of Newmont from $115.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Finally, Royal Bank Of Canada boosted their price objective on Newmont from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Six analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $112.38.

Newmont Trading Down 11.5%

Shares of NEM stock opened at $112.30 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The firm has a market cap of $122.55 billion, a P/E ratio of 17.44, a PEG ratio of 0.97 and a beta of 0.41. The firm’s 50-day simple moving average is $104.52 and its 200-day simple moving average is $86.86. Newmont has a 1-year low of $41.23 and a 1-year high of $134.88.

Insiders Place Their Bets

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the sale, the director directly owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value of $406,700.00. Following the completion of the transaction, the chief executive officer directly owned 279,923 shares in the company, valued at $22,768,936.82. The trade was a 1.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 9,160 shares of company stock valued at $767,206. 0.05% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NEM. Apella Capital LLC increased its holdings in Newmont by 4.1% in the 4th quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock valued at $219,000 after buying an additional 86 shares during the period. New Wave Wealth Advisors LLC lifted its stake in shares of Newmont by 1.3% in the 4th quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock valued at $684,000 after purchasing an additional 88 shares during the period. Novem Group grew its holdings in Newmont by 3.7% in the fourth quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock worth $248,000 after purchasing an additional 88 shares during the period. Norden Group LLC grew its stake in Newmont by 0.7% in the fourth quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock valued at $1,235,000 after acquiring an additional 90 shares during the period. Finally, Brown Miller Wealth Management LLC increased its position in shares of Newmont by 2.7% during the fourth quarter. Brown Miller Wealth Management LLC now owns 4,268 shares of the basic materials company’s stock worth $426,000 after acquiring an additional 113 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

About Newmont

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.