Newmont (NYSE:NEM) Lifted to Buy at UBS Group – MarketBeat

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Newmont (NYSE:NEMGet Rating) was upgraded by UBS Group from a “neutral” rating to a “buy” rating in a report issued on Tuesday, The Fly reports.

A number of other research firms also recently weighed in on NEM. Raymond James dropped their target price on Newmont from $76.00 to $71.00 and set an “outperform” rating for the company in a research report on Tuesday, July 26th. Barclays reduced their price objective on Newmont from $68.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 19th. Canaccord Genuity Group raised Newmont from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $66.00 to $60.00 in a research report on Wednesday, July 27th. TD Securities dropped their target price on Newmont from $64.00 to $52.00 and set a “hold” rating on the stock in a report on Tuesday, July 26th. Finally, National Bank Financial upgraded Newmont from a “sector perform” rating to an “outperform” rating in a report on Wednesday, July 27th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Newmont presently has a consensus rating of “Hold” and a consensus target price of $70.37.

Newmont Price Performance


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Shares of NEM stock opened at $41.67 on Tuesday. The stock’s fifty day simple moving average is $50.77 and its 200 day simple moving average is $64.67. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.82 and a quick ratio of 2.44. Newmont has a one year low of $40.27 and a one year high of $86.37. The firm has a market cap of $33.07 billion, a price-to-earnings ratio of 42.09 and a beta of 0.29.

Newmont (NYSE:NEMGet Rating) last issued its quarterly earnings data on Monday, July 25th. The basic materials company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.14). The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.04 billion. Newmont had a net margin of 6.40% and a return on equity of 9.13%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.83 EPS. On average, analysts expect that Newmont will post 2.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Newmont news, CFO Nancy Buese sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $61.50, for a total value of $615,000.00. Following the sale, the chief financial officer now owns 39,530 shares of the company’s stock, valued at approximately $2,431,095. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Newmont news, CFO Nancy Buese sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $61.50, for a total value of $615,000.00. Following the sale, the chief financial officer now owns 39,530 shares of the company’s stock, valued at approximately $2,431,095. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Robert D. Atkinson sold 3,000 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $45.35, for a total value of $136,050.00. Following the sale, the chief operating officer now directly owns 48,947 shares in the company, valued at approximately $2,219,746.45. The disclosure for this sale can be found here. Insiders have sold 38,000 shares of company stock valued at $2,081,920 over the last 90 days. 0.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Lloyd Advisory Services LLC. bought a new position in shares of Newmont in the 1st quarter worth about $28,000. Central Bank & Trust Co. bought a new position in shares of Newmont in the 1st quarter worth about $29,000. Pacific Center for Financial Services bought a new position in shares of Newmont in the 1st quarter worth about $30,000. Vectors Research Management LLC bought a new position in shares of Newmont in the 4th quarter worth about $25,000. Finally, Rational Advisors LLC grew its stake in shares of Newmont by 133.7% in the 4th quarter. Rational Advisors LLC now owns 416 shares of the basic materials company’s stock valued at $26,000 after buying an additional 238 shares during the period. 81.11% of the stock is owned by institutional investors.

Newmont Company Profile

(Get Rating)

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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

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