Brokerages Set Newmont Co. (NYSE:NEM) PT at $53.44

Shares of Newmont Co. (NYSE:NEM) have been assigned a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, eight have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $53.37.

A number of brokerages recently weighed in on NEM. Scotiabank cut their price target on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 21st. The Goldman Sachs Group started coverage on shares of Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective on the stock. Royal Bank of Canada increased their target price on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday. Bernstein Bank lifted their price target on shares of Newmont from $55.00 to $58.00 in a report on Monday, November 11th. Finally, CIBC lowered Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th.

Insider Activity at Newmont

In other news, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now directly owns 145,967 shares in the company, valued at $5,838,680. The trade was a 5.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the sale, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. This represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,154 shares of company stock valued at $1,166,843. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Newmont

Hedge funds have recently bought and sold shares of the stock. Hoese & Co LLP purchased a new stake in shares of Newmont during the 3rd quarter valued at $27,000. Avior Wealth Management LLC increased its stake in Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 326 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in Newmont during the third quarter valued at about $28,000. Highline Wealth Partners LLC purchased a new stake in Newmont during the third quarter valued at about $32,000. Finally, HHM Wealth Advisors LLC lifted its stake in Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 350 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Newmont Price Performance

Shares of Newmont stock opened at $46.83 on Thursday. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The business’s fifty day simple moving average is $40.66 and its 200 day simple moving average is $46.49. Newmont has a 12 month low of $29.42 and a 12 month high of $58.72.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.