Newmont Mining (NEM) Gets a Buy Rating from Fundamental Research
In a report issued on February 19, Siddharth Rajeev from Fundamental Research maintained a Buy rating on Newmont Mining (NEM), with a price target of $69.96. The company’s shares closed last Wednesday at $57.33.
According to TipRanks.com, Rajeev is a 3-star analyst with an average return of 5.4% and a 36.9% success rate. Rajeev covers the Basic Materials sector, focusing on stocks such as THC Biomed INTL, Barrick Gold, and Caldas Gold.
Currently, the analyst consensus on Newmont Mining is a Strong Buy with an average price target of $75.46, a 33.6% upside from current levels. In a report issued on February 10, J.P. Morgan also maintained a Buy rating on the stock with a $83.00 price target.
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Newmont Mining’s market cap is currently $45.49B and has a P/E ratio of 16.20. The company has a Price to Book ratio of 2.26.
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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. The North America segment consists primarily of carlin, phoenix, twin creeks and long canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado, in the United States. The South America segment consists primarily of Yanacocha in Peru and Merian in Suriname. The Australia segment consists primarily of Boddington, Tanami and Kalgoorlie in Australia. The Africa segment consists primarily of Ahafo and Akyem in Ghana. The company was founded by William Boyce Thompson on May 2, 1921 and is headquartered in Greenwood Village, CO.