Newmont (NYSE:NEM) Given a $155.00 Price Target at RBC Dominion Securities

Newmont (NYSE:NEM) received a $155.00 target price from analysts at RBC Dominion Securities in a note issued to investors on Thursday, BayStreet reports. The firm currently has an “outperform” rating on the basic materials company’s stock. RBC Dominion Securities‘s price target indicates a potential upside of 36.41% from the stock’s current price.

NEM has been the subject of several other reports. Raymond James Financial reissued an “outperform” rating and issued a $140.00 target price on shares of Newmont in a research note on Monday, August 24th. Wall Street Zen cut Newmont from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Sanford C. Bernstein decreased their price target on Newmont from $147.00 to $144.00 and set an “outperform” rating on the stock in a report on Wednesday, September 9th. Barclays lowered their price objective on Newmont from $124.00 to $123.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Royal Bank Of Canada boosted their price objective on Newmont from $135.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.06.

Newmont Price Performance

NEM traded down $3.55 during midday trading on Thursday, hitting $113.63. The company had a trading volume of 9,527,946 shares, compared to its average volume of 8,512,312. Newmont has a twelve month low of $76.05 and a twelve month high of $135.29. The company has a market capitalization of $119.73 billion, a PE ratio of 14.35, a P/E/G ratio of 2.16 and a beta of 0.51. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The firm’s 50-day simple moving average is $122.06 and its 200-day simple moving average is $111.00.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The company had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same period in the prior year, the business earned $1.43 earnings per share. Equities research analysts predict that Newmont will post 9.04 EPS for the current fiscal year.

Insider Activity

In other Newmont news, CEO Natascha Viljoen sold 7,764 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total value of $807,456.00. Following the transaction, the chief executive officer owned 135,235 shares of the company’s stock, valued at approximately $14,064,440. This represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $344,430.00. Following the transaction, the executive vice president owned 34,315 shares in the company, valued at approximately $3,939,705.15. This trade represents a 8.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 35,973 shares of company stock valued at $3,927,169 in the last 90 days. 0.06% of the stock is owned by company insiders.

Institutional Trading of Newmont

Institutional investors and hedge funds have recently modified their holdings of the stock. Pinnacle Bancorp Inc. acquired a new stake in shares of Newmont in the 1st quarter valued at approximately $25,000. Cedar Mountain Advisors LLC bought a new position in Newmont during the 1st quarter worth approximately $25,000. Clearstead Trust LLC acquired a new position in Newmont during the second quarter valued at approximately $25,000. Kilter Group LLC acquired a new position in Newmont during the second quarter valued at approximately $26,000. Finally, GoalVest Advisory LLC bought a new stake in Newmont in the third quarter valued at approximately $28,000. 68.85% of the stock is owned by institutional investors.

About Newmont

Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.