Royal Bank of Canada Issues Positive Forecast for Newmont (NYSE:NEM) Stock Price

Newmont (NYSE:NEM) had its price target hoisted by Royal Bank of Canada from $47.00 to $52.00 in a report issued on Tuesday,BayStreet.CA reports. They currently have a sector perform rating on the basic materials company’s stock.

Other equities research analysts also recently issued research reports about the stock. Bernstein Bank upped their price target on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and lowered their price target for the company from $67.00 to $54.00 in a report on Wednesday, October 30th. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $53.37.

Newmont Stock Up 2.1 %

NYSE NEM opened at $47.79 on Tuesday. 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 stock has a market cap of $54.40 billion, a PE ratio of -31.44, a P/E/G ratio of 0.38 and a beta of 0.52. Newmont has a 12 month low of $29.42 and a 12 month high of $58.72. The stock’s 50 day moving average is $40.76 and its 200 day moving average is $46.50.

Insider Activity

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total transaction of $89,082.53. Following the completion of the sale, the director now owns 49,993 shares in the company, valued at $2,144,199.77. This represents a 3.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $42.89, for a total value of $128,670.00. Following the sale, the executive vice president now owns 79,596 shares of the company’s stock, valued at approximately $3,413,872.44. This represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,154 shares of company stock valued at $1,166,843. 0.06% of the stock is currently owned by insiders.

Institutional Trading of Newmont

Hedge funds have recently bought and sold shares of the stock. Avior Wealth Management LLC lifted its holdings in Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after buying an additional 326 shares during the period. Prospera Private Wealth LLC purchased a new stake in shares of Newmont during the 3rd quarter valued at $28,000. Highline Wealth Partners LLC purchased a new stake in shares of Newmont during the 3rd quarter valued at $32,000. HHM Wealth Advisors LLC lifted its holdings in shares of Newmont by 66.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 350 shares during the last quarter. Finally, Redwood Park Advisors LLC purchased a new stake in shares of Newmont during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Company Profile

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.