After Merrill Lynch and National Bank gave Newmont Mining (NYSE: NEM) a Buy rating last month, the company received another Buy, this time from B.Riley FBR. Analyst Adam Graf maintained a Buy rating on Newmont Mining today and set a price target of $97.00. The company’s shares closed last Monday at $66.26, close to its 52-week high of $68.77.
According to TipRanks.com, Graf is a 4-star analyst with an average return of 6.7% and a 52.4% success rate. Graf covers the Basic Materials sector, focusing on stocks such as Gold Standard Ventures, First Majestic Silver, and Hecla Mining Company.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Newmont Mining with a $68.59 average price target, implying a 1.0% upside from current levels. In a report issued on May 6, J.P. Morgan also maintained a Buy rating on the stock with a $73.00 price target.
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Newmont Mining’s market cap is currently $53.18B and has a P/E ratio of 15.80. The company has a Price to Book ratio of 2.86.
Based on the recent corporate insider activity of 148 insiders, corporate insider sentiment is neutral on the stock.
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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.
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