In a report released yesterday, Josh Wolfson from RBC Capital maintained a Hold rating on Newmont Mining (NEM), with a price target of $48.00. The company’s shares closed last Monday at $47.50.
According to TipRanks.com, Wolfson is a 5-star analyst with an average return of 9.6% and a 57.1% success rate. Wolfson covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Kirkland Lake Gold, and Eldorado Gold.
Newmont Mining has an analyst consensus of Moderate Buy, with a price target consensus of $51.14.
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Based on Newmont Mining’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.97 billion and net profit of $565 million. In comparison, last year the company earned revenue of $2.05 billion and had a net profit of $2 million.
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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.
