Newmont (NYSE:NEM) Given New $133.00 Price Target at Macquarie Infrastructure
by Jessica Moore · The Cerbat GemNewmont (NYSE:NEM – Get Free Report) had its price objective hoisted by Macquarie Infrastructure from $130.00 to $133.00 in a note issued to investors on Monday,MarketScreener reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. Macquarie Infrastructure’s price target indicates a potential upside of 14.28% from the stock’s current price.
Several other equities analysts have also weighed in on the company. DZ Bank raised Newmont to a “strong-buy” rating in a research note on Monday, January 19th. Wall Street Zen raised Newmont from a “hold” rating to a “buy” rating in a research note on Saturday. Canaccord Genuity Group increased their price target on shares of Newmont from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Canadian Imperial Bank of Commerce reduced their price objective on shares of Newmont from $177.00 to $176.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 21st. Finally, UBS Group decreased their price objective on shares of Newmont from $150.00 to $140.00 and set a “buy” rating for the company in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Newmont has a consensus rating of “Moderate Buy” and a consensus price target of $140.71.
View Our Latest Stock Report on Newmont
Newmont Stock Performance
Shares of Newmont stock opened at $116.38 on Monday. The firm has a fifty day moving average of $114.65 and a two-hundred day moving average of $104.91. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The stock has a market capitalization of $124.24 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 0.92 and a beta of 0.46. Newmont has a 52 week low of $48.27 and a 52 week high of $134.88.
Newmont (NYSE:NEM – Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same period last year, the company earned $1.25 EPS. The firm’s revenue was up 45.8% on a year-over-year basis. As a group, equities research analysts predict that Newmont will post 8.91 EPS for the current year.
Insider Activity
In related news, insider David James Fry sold 18,394 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the transaction, the insider directly owned 17,147 shares in the company, valued at approximately $1,911,033.15. This trade represents a 51.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $113.09, for a total value of $339,270.00. Following the completion of the sale, the executive vice president directly owned 52,315 shares in the company, valued at approximately $5,916,303.35. This represents a 5.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 24,394 shares of company stock worth $2,713,281 in the last three months. Company insiders own 0.06% of the company’s stock.
Hedge Funds Weigh In On Newmont
Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Newmont by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company’s stock valued at $13,390,613,000 after purchasing an additional 637,996 shares during the last quarter. State Street Corp grew its position in Newmont by 1.0% in the fourth quarter. State Street Corp now owns 49,959,850 shares of the basic materials company’s stock valued at $4,988,491,000 after purchasing an additional 480,223 shares in the last quarter. Van ECK Associates Corp increased its stake in Newmont by 23.4% in the 4th quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock valued at $2,973,539,000 after buying an additional 5,643,496 shares during the last quarter. Geode Capital Management LLC lifted its position in Newmont by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company’s stock worth $2,738,756,000 after buying an additional 946,824 shares in the last quarter. Finally, Norges Bank bought a new stake in Newmont during the 4th quarter worth about $1,443,128,000. Institutional investors and hedge funds own 68.85% of the company’s stock.
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.