Stifel Nicolaus Sticks to Its Buy Rating for Newmont Mining (NEM)
In a report released today, Ralph M. Profiti from Stifel Nicolaus maintained a Buy rating on Newmont Mining, with a price target of $175.00.
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According to TipRanks, M. Profiti is a 5-star analyst with an average return of 29.8% and a 65.63% success rate. M. Profiti covers the Basic Materials sector, focusing on stocks such as Hudbay Minerals, Southern Cross Gold Consolidated, and K92 Mining.
In addition to Stifel Nicolaus, Newmont Mining also received a Buy from Bank of America Securities’s Lawson Winder in a report issued yesterday. However, on April 16, 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.
