Canaccord Genuity Sticks to Its Buy Rating for Newmont Mining (NEM)
In a report released today, from Canaccord Genuity maintained a Buy rating on Newmont Mining, with a price target of $150.00.
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In addition to Canaccord Genuity, Newmont Mining also received a Buy from RBC Capital’s Josh Wolfson in a report issued on April 15. However, yesterday, National Bank downgraded Newmont Mining (NYSE: NEM) to a Hold.
Based on Newmont Mining’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $6.57 billion and a net profit of $1.3 billion. In comparison, last year the company earned a revenue of $5.72 billion and had a net profit of $1.4 billion
Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NEM in relation to earlier this year. Last month, David James Fry, the Group Head Projects & Studies of NEM sold 18,394.00 shares for a total of $2,050,011.30.
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- National Bank downgrades Newmont amid higher diesel prices
- Newmont downgraded to Sector Perform from Outperform at National Bank
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