Jefferies Reiterates a Hold Rating on Newmont Mining Corporation (NEM)
In a report released today, Chris LaFemina from Jefferies reiterated a Hold rating on Newmont Mining Corporation (NYSE: NEM), with a price target of $33. The company’s shares opened today at $30.52, close to its 52-week low of $29.16.
According to TipRanks.com, LaFemina is a 1-star analyst with an average return of -0.5% and a 51.9% success rate. LaFemina covers the Basic Materials sector, focusing on stocks such as Cloud Peak Energy Inc, Freeport-McMoRan, and Rio Tinto Plc.
Newmont Mining Corporation has an analyst consensus of Hold, with a price target consensus of $39.40, representing a 29.1% upside. In a report issued on October 2, Deutsche Bank also maintained a Hold rating on the stock with a $37 price target.
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Based on Newmont Mining Corporation’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.67 billion and net profit of $292 million. In comparison, last year the company earned revenue of $1.87 billion and had a net profit of $206 million.
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Newmont Mining Corp. is a gold producer, which engages in the production of copper. It operates through the following geographical segments: North America, South America, Australia, and Africa.