Newmont (NYSE:NEM) Stock Rating Upgraded by Barclays

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

Several other analysts have also recently issued reports on the company. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 3rd. Jefferies Financial Group increased their target price on Newmont from $162.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, April 10th. National Bank Financial increased their target price on Newmont from $130.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. The Goldman Sachs Group increased their target price on Newmont from $123.20 to $125.10 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Finally, Canadian Imperial Bank of Commerce cut their target price on Newmont from $177.00 to $176.00 and set an “outperform” rating for the company in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.05.

Newmont Stock Down 0.5%

NYSE NEM opened at $107.74 on Thursday. The stock’s 50-day moving average price is $111.03 and its 200-day moving average price is $108.00. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. Newmont has a 52 week low of $51.80 and a 52 week high of $134.88. The company has a market capitalization of $115.02 billion, a P/E ratio of 13.97, a price-to-earnings-growth ratio of 1.55 and a beta of 0.43.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter last year, the company earned $1.25 earnings per share. The business’s revenue for the quarter was up 45.8% compared to the same quarter last year. On average, equities research analysts predict that Newmont will post 9.47 earnings per share for the current year.

Insider Buying and Selling

In related news, insider David James Fry sold 18,394 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the sale, the insider directly owned 17,147 shares of the company’s stock, valued at approximately $1,911,033.15. This trade represents a 51.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Wexler sold 13,378 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $1,473,051.58. Following the sale, the executive vice president directly owned 67,865 shares of the company’s stock, valued at $7,472,615.15. This represents a 16.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders sold 43,068 shares of company stock valued at $4,769,475 over the last quarter. Company insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Newmont

Institutional investors and hedge funds have recently bought and sold shares of the company. GoalVest Advisory LLC bought a new stake in Newmont during the 4th quarter valued at $25,000. Pinnacle Bancorp Inc. bought a new stake in Newmont during the 1st quarter valued at $25,000. Cedar Mountain Advisors LLC bought a new stake in Newmont during the 1st quarter valued at $25,000. Physician Wealth Advisors Inc. raised its position in Newmont by 327.8% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 236 shares in the last quarter. Finally, Swiss RE Ltd. bought a new stake in Newmont during the 4th quarter valued at $26,000. 68.85% of the stock is owned by 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.