B.Riley FBR analyst Adam Graf maintained a Buy rating on Newmont Mining (NEM) today and set a price target of $54.00. The company’s shares closed last Monday at $50.26, close to its 52-week high of $51.34.
According to TipRanks.com, Graf is a 2-star analyst with an average return of 0.0% and a 37.9% success rate. Graf covers the Basic Materials sector, focusing on stocks such as Gold Standard Ventures, First Majestic Silver, and Hecla Mining Company.
Currently, the analyst consensus on Newmont Mining is a Moderate Buy with an average price target of $48.87, implying a -1.3% downside from current levels. In a report issued on February 23, CIBC also upgraded the stock to Buy with a $58.00 price target.
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Newmont Mining’s market cap is currently $41.21B and has a P/E ratio of 14.49. The company has a Price to Book ratio of 1.90.
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Newmont Corp. is a gold producer, which engages in the production of gold. It operates through the following geographical segments: North America, South America, Australia, and Africa.
