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Newmont Mining (NEM) Gets a Hold Rating from Barclays

In a report issued on June 8, Matt Murphy from Barclays maintained a Hold rating on Newmont Mining (NEMResearch Report), with a price target of $68.00. The company’s shares closed last Thursday at $64.58.

According to TipRanks.com, Murphy is a 4-star analyst with an average return of 11.8% and a 63.4% success rate. Murphy covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, First Quantum Minerals, and Freeport-McMoRan.

Newmont Mining has an analyst consensus of Hold, with a price target consensus of $75.82.

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Based on Newmont Mining’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.02 billion and net profit of $448 million. In comparison, last year the company earned revenue of $2.87 billion and had a net profit of $559 million.

Based on the recent corporate insider activity of 101 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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