Analysts have been active with Newmont (NEM) stock. BMO Capital Markets raised their price target from $56 to $57, rating it outperform. Veritas upgraded it to strong-buy, while JPMorgan downgraded it from overweight to neutral. Scotiabank upped its rating from sector perform to sector outperform and increased the price target from $48 to $59. BNP Paribas also gave it a strong-buy. The consensus rating for Newmont is Moderate Buy with an average price target of $53.31.
Newmont Stock Performance
On Friday, NEM went up by $0.01 to $53.21 with a trading volume of 3,328,541 shares. Key financial ratios include a debt-to-equity ratio of 0.31 and a market cap of $61.36 billion. The stock’s 12-month range is between $29.42 and $56.30.
In its latest quarterly results (July 24), Newmont reported earnings of $0.72 per share, exceeding estimates. Revenue was $4.40 billion, a 64.1% increase from the previous year. Analysts predict earnings of $2.88 per share for the current fiscal year.
Insider Transactions
Recently, EVP Peter Toth sold 3,000 shares at $52.47 each, totaling about $157,410. CEO Thomas Ronald Palmer sold 20,000 shares at $53.81, worth about $1,076,200. Insiders have sold 66,000 shares worth $3,434,640 in the last 90 days, with only 0.06% of the stock currently owned by insiders.
Institutional Investors
Several hedge funds have adjusted their holdings in Newmont. Notable transactions include LRI Investments acquiring a stake worth $25,000 and Heritage Wealth Advisors increasing its position by over 1,300%. Overall, 68.85% of the stock is owned by institutional investors.
About Newmont
Newmont Corporation is a leading gold producer with operations and assets in various countries including the U.S., Canada, and Australia.
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