Analysts have recently updated their views on Newmont (NEM). BMO Capital Markets raised their price target from $56.00 to $57.00, rating it as outperform. Veritas upgraded to strong-buy, while JPMorgan downgraded it to neutral. Scotiabank increased their target from $48.00 to $59.00 and rated it as sector outperform. Overall, there are five hold ratings, ten buy ratings, and three strong-buy ratings. The consensus rating from MarketBeat is Moderate Buy with an average target of $53.31.
Newmont Stock Movement
On Friday, NYSE NEM increased by $0.01 to $53.21, with 3,328,541 shares traded. Key financial metrics include a market cap of $61.36 billion and a price-to-earnings ratio of -19.93. Its year range is $29.42 to $56.30.
Newmont reported earnings on July 24, achieving $0.72 per share, exceeding expectations of $0.62. Revenue was $4.40 billion, significantly up from the previous year’s $0.33 EPS. Analysts predict an EPS of 2.88 for this fiscal year.
Insider Transactions
Recently, EVP Peter Toth sold 3,000 shares at $52.47 each, totaling $157,410. CEO Thomas Ronald Palmer sold 20,000 shares at $53.81, totaling $1,076,200. In total, insiders have sold 66,000 shares worth $3,434,640 over the last 90 days.
Institutional Investor Activity
Several hedge funds have adjusted their stakes in Newmont. LRI Investments and Strategic Financial Concepts each bought new stakes worth approximately $25,000. Institutional investors own 68.85% of the stock.
About Newmont
(Get Free Report) Newmont Corporation is involved in gold production and exploration, with additional interests in copper, silver, zinc, and lead across multiple countries.
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