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Newmont Mining (NEM) Gets a Buy Rating from Fundamental Research

Fundamental Research analyst Siddharth Rajeev reiterated a Buy rating on Newmont Mining (NEMResearch Report) on May 6 and set a price target of $79.52. The company’s shares closed last Friday at $67.19.

According to TipRanks.com, Rajeev is a 1-star analyst with an average return of -0.9% and a 33.4% success rate. Rajeev covers the Basic Materials sector, focusing on stocks such as Voyageur Pharmaceuticals, Silver Dollar Resources, and Golden Minerals Co.

Newmont Mining has an analyst consensus of Hold, with a price target consensus of $75.60, which is a 13.5% upside from current levels. In a report issued on April 22, J.P. Morgan also maintained a Buy rating on the stock with a $80.00 price target.

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Newmont Mining’s market cap is currently $53.33B and has a P/E ratio of 50.92.

Based on the recent corporate insider activity of 100 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 NEM in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Newmont Corporation is a mining company and has the world’s largest gold reserve base in the industry. It engages in the exploration and production of gold, copper, silver, zinc, and lead.

Read More on NEM:

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