Stifel Nicolaus Begins Coverage on Newmont (NYSE:NEM)

Equities researchers at Stifel Nicolaus assumed coverage on shares of Newmont (NYSE:NEM - Get Free Report) in a report released on Wednesday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $73.00 price target on the basic materials company's stock. Stifel Nicolaus' price objective indicates a potential upside of 26.60% from the stock's previous close.

Several other research analysts have also recently issued reports on the stock. Cfra Research raised shares of Newmont to a "strong-buy" rating in a report on Friday, April 25th. Royal Bank Of Canada boosted their price objective on shares of Newmont from $52.00 to $66.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Argus set a $63.00 price objective on shares of Newmont in a research report on Friday, April 25th. UBS Group increased their price objective on shares of Newmont from $60.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Finally, Raymond James Financial restated an "outperform" rating and set a $66.00 price objective on shares of Newmont in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $61.41.

Newmont Trading Down 4.2%

Shares of NYSE NEM opened at $57.66 on Wednesday. Newmont has a 1 year low of $36.86 and a 1 year high of $60.31. The stock has a market cap of $64.18 billion, a P/E ratio of 12.93, a price-to-earnings-growth ratio of 0.76 and a beta of 0.33. The firm has a 50-day moving average of $54.88 and a 200 day moving average of $48.54. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.98 and a quick ratio of 1.70.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.54. The business had revenue of $5.01 billion during the quarter, compared to analysts' expectations 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 previous year, the company earned $0.55 earnings per share. As a group, sell-side analysts expect that Newmont will post 3.45 EPS for the current fiscal year.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $176,250.00. Following the sale, the executive vice president directly owned 74,526 shares in the company, valued at $4,378,402.50. This trade represents a 3.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $122,023.75. Following the completion of the sale, the director owned 43,103 shares in the company, valued at approximately $2,532,301.25. This represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,231 shares of company stock worth $679,813 over the last 90 days. Insiders own 0.05% of the company's stock.

Institutional Trading of Newmont

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bessemer Group Inc. grew its stake in shares of Newmont by 13.2% in the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company's stock worth $569,000 after buying an additional 1,379 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Newmont by 9.9% in the 4th quarter. First Trust Advisors LP now owns 96,040 shares of the basic materials company's stock worth $3,575,000 after buying an additional 8,678 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Newmont in the 1st quarter worth $423,000. Spire Wealth Management grew its stake in shares of Newmont by 125.0% in the 1st quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company's stock worth $114,000 after buying an additional 1,309 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its stake in shares of Newmont by 773.7% in the 4th quarter. Teacher Retirement System of Texas now owns 67,461 shares of the basic materials company's stock worth $2,511,000 after buying an additional 59,740 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

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.

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