Newmont (NYSE:NEM) Stock Rating Upgraded by DZ Bank

Newmont (NYSE:NEM) was upgraded by equities research analysts at DZ Bank to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

NEM has been the topic of several other research reports. BNP Paribas cut shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 price target on the stock. in a report on Friday, December 5th. CIBC set a $112.00 target price on shares of Newmont and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Bank of America upped their price objective on shares of Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Macquarie raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 5th. Finally, National Bankshares boosted their price target on Newmont from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Six analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Newmont currently has a consensus rating of “Buy” and a consensus price target of $99.35.

Newmont Stock Up 4.3%

NYSE NEM opened at $119.06 on Monday. Newmont has a 1 year low of $40.85 and a 1 year high of $119.35. The stock has a market capitalization of $129.92 billion, a PE ratio of 18.49, a PEG ratio of 0.80 and a beta of 0.41. 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 business’s 50-day moving average is $98.68 and its 200 day moving average is $83.64.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The business had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter last year, the business posted $0.81 EPS. The business’s revenue was up 20.0% on a year-over-year basis. Sell-side analysts forecast that Newmont will post 3.45 earnings per share for the current year.

Insider Transactions at Newmont

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction dated 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 approximately $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director directly owned 32,709 shares in the company, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 9,160 shares of company stock worth $767,206. 0.05% of the stock is owned by corporate insiders.

Institutional Trading of Newmont

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GoalVest Advisory LLC bought a new stake in Newmont in the 4th quarter valued at $25,000. Physician Wealth Advisors Inc. lifted its position in shares of Newmont by 327.8% in the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after buying an additional 236 shares in the last quarter. Concord Wealth Partners boosted its stake in Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after buying an additional 385 shares during the last quarter. JPL Wealth Management LLC purchased a new position in Newmont during the 3rd quarter valued at approximately $27,000. Finally, Lodestone Wealth Management LLC bought a new position in Newmont during the 4th quarter valued at about $28,000. 68.85% of the stock is owned by hedge funds and other 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.