Morgan Stanley analyst Rahul Anand maintained a Buy rating on Newcrest Mining Limited (NCMGF – Research Report) today and set a price target of A$23.40. The company’s shares closed yesterday at $16.22.
Anand covers the Basic Materials sector, focusing on stocks such as Newcrest Mining Limited, Regis Resources Limited, and Fortescue Metals Group Ltd. According to TipRanks, Anand has an average return of 13.0% and a 59.92% success rate on recommended stocks.
In addition to Morgan Stanley, Newcrest Mining Limited also received a Buy from J.P. Morgan’s Al Harvey in a report issued on January 15. However, yesterday, UBS downgraded Newcrest Mining Limited (Other OTC: NCMGF) to a Sell.
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NCMGF market cap is currently $14.54B and has a P/E ratio of 16.01.
Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NCMGF in relation to earlier this year.
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Newcrest Mining Ltd. engages in the exploration, development, and operations of mines. It operates through the following segments: Cadia, Telfet, Lihir, Gosowong, Bonikro, Hidden Valley, and Exploration and Others. The company was founded in 1990 and is headquartered in Melbourne, Australia.
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