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With Newmont In An Earnings Miss Dip, Vetr Upgrades

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On Thursday, the Vetr crowd upgraded their rating for Newmont Mining Corp (NYSE: NEM) from 3.5 stars (Buy), issued 17 days ago, to 4.5 stars (Strong Buy). At the time of the upgrade, crowd sentiment for Newmont was primarily positive, with 75 percent of Vetr user ratings bullish.

Newmont issued a pretty disappointing Q4 earnings report at the close of Tuesday's session. The gold extractor missed both EPS and revenue estimates, the former by $0.13 and the latter by over $20 million.

Prior to the earnings miss, Newmont was on a bit of a rally in tune with the price of gold. Both were rising steadily since the tail-end of 2016, Newmont by about 16 percent since December 19 and gold by around 10.73 percent in that same span.

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Currently, the Vetr crowd's average target price for Newmont is up at $40.38, which is about even with the average analyst target price of $40.36. Less than 2 percent of Vetr users are holding NEM in their watch lists.

Latest Ratings for NEM

DateFirmActionFromTo
Jul 2019ReinstatesMarket Perform
May 2019UpgradesNeutralBuy
Apr 2019MaintainsHoldHold

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Posted-In: VetrUpgrades Price Target Crowdsourcing Analyst Ratings

 

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