NEM Charts Newmont Mining (NEM) has 37% “buy” ratings and 53% “hold” ratings. While its ratings have remained more or less constant since the start of 2016, its target price was revised upward by 73% to $40.
NEM In recent news, Newmont sold its stake in its Batu Hijau mine in Indonesia. Mackie Research commented, saying, “NEM remains the premier ‘go-to’ gold name in the US, which, along with decreasing debt and a more stable asset portfolio, has led us to increase our multiple to 1.5x (from 1.2x). After accounting for the sale of the Indonesian assets, our NAV/sh declines to $30.41 from $31.38 previously. As a result of our new multiple, our target increases to $45.00/sh.”