RBC Capital Maintains Their Hold Rating on Newmont Mining (NEM)
In a report issued on February 5, Josh Wolfson from RBC Capital maintained a Hold rating on Newmont Mining (NEM), with a price target of $45.00. The company’s shares closed last Monday at $44.02, close to its 52-week high of $45.71.
According to TipRanks.com, Wolfson is a 4-star analyst with an average return of 7.7% and a 62.3% 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 $46.86, which is a 5.1% upside from current levels. In a report issued on February 6, UBS also initiated coverage with a Hold rating on the stock with a $46.00 price target.
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Based on Newmont Mining’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.71 billion and net profit of $2.18 billion. In comparison, last year the company earned revenue of $2.04 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.