Newmont (NYSE:NEM) Price Target Cut to $111.00 by Analysts at BNP Paribas Exane

Newmont (NYSE:NEM) had its price objective reduced by stock analysts at BNP Paribas Exane from $128.00 to $111.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The firm currently has a “neutral” rating on the basic materials company’s stock. BNP Paribas Exane’s price target points to a potential upside of 5.00% from the stock’s previous close.

NEM has been the subject of a number of other reports. National Bank Financial boosted their price target on shares of Newmont from $130.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Friday, April 24th. Weiss Ratings cut shares of Newmont from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 27th. UBS Group lowered their target price 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. Canadian Imperial Bank of Commerce set a $175.00 target price on shares of Newmont and gave the company an “outperform” rating in a research report on Monday, June 1st. Finally, Citigroup increased their price target on Newmont from $118.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $140.98.

Newmont Trading Up 0.0%

Shares of NEM stock traded up $0.05 on Thursday, reaching $105.72. 1,838,640 shares of the stock were exchanged, compared to its average volume of 9,332,236. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. Newmont has a one year low of $55.37 and a one year high of $134.88. The stock has a market cap of $112.86 billion, a PE ratio of 13.74, a P/E/G ratio of 1.80 and a beta of 0.42. The stock has a 50 day moving average price of $110.52 and a 200 day moving average price of $110.51.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same period last year, the company earned $1.25 earnings per share. The company’s revenue was up 45.8% on a year-over-year basis. Equities research analysts forecast that Newmont will post 9.91 EPS for the current fiscal year.

Insider Activity

In related news, insider David John Thornton sold 2,296 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the sale, the insider owned 23,163 shares in the company, valued at $2,550,477.93. This represents a 9.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $315,960.00. Following the sale, the executive vice president directly owned 46,315 shares in the company, valued at $4,877,895.80. The trade was a 6.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 28,556 shares of company stock valued at $3,120,276. 0.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Apella Capital LLC grew its position in shares of 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 purchasing an additional 86 shares during the period. New Wave Wealth Advisors LLC increased its stake in Newmont by 1.3% during the 4th quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock worth $684,000 after purchasing an additional 88 shares in the last quarter. Novem Group raised its holdings in Newmont by 3.7% during the 4th quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock worth $248,000 after buying an additional 88 shares during the period. Norden Group LLC raised its holdings in Newmont by 0.7% during the 4th quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock worth $1,235,000 after buying an additional 90 shares during the period. Finally, Parkside Financial Bank & Trust lifted its stake in Newmont by 1.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock valued at $714,000 after buying an additional 96 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

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.