Newmont (NYSE:NEM) Given a $74.00 Price Target at CIBC

Newmont (NYSE:NEM - Get Free Report) received a $74.00 price target from equities research analysts at CIBC in a report released on Tuesday, MarketBeat reports. The brokerage currently has a "neutral" rating on the basic materials company's stock. CIBC's price objective would suggest a potential upside of 27.59% from the stock's current price.

A number of other equities analysts have also issued reports on the stock. Wall Street Zen upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Cfra Research raised Newmont to a "strong-buy" rating in a report on Friday, April 25th. National Bank Financial raised Newmont to a "hold" rating in a report on Friday, March 21st. Stifel Canada raised Newmont to a "strong-buy" rating in a report on Tuesday, July 8th. Finally, Royal Bank Of Canada increased their price target on Newmont from $52.00 to $66.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $62.49.

Newmont Stock Down 0.8%

Shares of NYSE:NEM traded down $0.45 on Tuesday, hitting $58.00. 13,660,787 shares of the company's stock were exchanged, compared to its average volume of 10,787,558. Newmont has a 1-year low of $36.86 and a 1-year high of $61.17. The company has a market capitalization of $64.55 billion, a PE ratio of 13.00, a P/E/G ratio of 0.65 and a beta of 0.33. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.70 and a current ratio of 1.98. The firm's 50-day moving average is $55.64 and its 200 day moving average is $49.34.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, beating the consensus estimate of $0.71 by $0.54. The company had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. Newmont had a net margin of 25.77% and a return on equity of 15.75%. During the same period in the prior year, the firm posted $0.55 earnings per share. Sell-side analysts predict that Newmont will post 3.45 EPS for the current year.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $122,023.75. Following the completion of the transaction, the director owned 43,103 shares of the company's stock, valued at $2,532,301.25. The trade was a 4.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $54.09, for a total value of $162,270.00. Following the sale, the executive vice president owned 77,526 shares of the company's stock, valued at approximately $4,193,381.34. This represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,231 shares of company stock valued at $679,813 in the last ninety days. Corporate insiders own 0.05% of the company's stock.

Institutional Trading of Newmont

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. increased its position in Newmont by 11.9% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company's stock worth $101,000 after purchasing an additional 185 shares in the last quarter. Aaron Wealth Advisors LLC grew its holdings in Newmont by 4.4% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company's stock valued at $260,000 after buying an additional 190 shares during the period. Hemington Wealth Management grew its holdings in Newmont by 25.2% in the 1st quarter. Hemington Wealth Management now owns 965 shares of the basic materials company's stock valued at $46,000 after buying an additional 194 shares during the period. Ipswich Investment Management Co. Inc. grew its holdings in Newmont by 1.4% in the 1st quarter. Ipswich Investment Management Co. Inc. now owns 14,269 shares of the basic materials company's stock valued at $689,000 after buying an additional 200 shares during the period. Finally, SOA Wealth Advisors LLC. grew its holdings in Newmont by 64.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company's stock valued at $25,000 after buying an additional 201 shares during the period. 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.