Newmont (NYSE:NEM – Free Report) had its price objective upped by National Bank Financial from $120.00 to $140.00 in a research report sent to investors on Monday morning. The firm currently has a sector perform rating on the basic materials company’s stock.
Several other equities analysts have also recently weighed in on NEM. Citigroup lowered their price target on Newmont from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Scotiabank lifted their price objective on Newmont from $147.00 to $149.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Canaccord Genuity Group lowered their target price on Newmont from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Wall Street Zen cut Newmont from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Sanford C. Bernstein cut their price target on Newmont from $147.00 to $144.00 and set an “outperform” rating for the company in a research note on Wednesday, September 9th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $133.78.
View Our Latest Research Report on Newmont
Newmont Stock Performance
Newmont (NYSE:NEM – Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The company had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.35 billion. During the same quarter in the prior year, the firm earned $1.43 earnings per share. As a group, equities research analysts expect that Newmont will post 9.09 earnings per share for the current year.
Newmont Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be paid a dividend of $0.26 per share. The ex-dividend date is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. Newmont’s payout ratio is 13.13%.
Insider Buying and Selling
In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $123.00, for a total transaction of $369,000.00. Following the completion of the sale, the executive vice president owned 37,315 shares in the company, valued at approximately $4,589,745. This trade represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of Newmont stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the sale, the chief executive officer directly owned 135,235 shares in the company, valued at $14,064,440. This trade represents a 5.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 32,091 shares of company stock valued at $3,414,187. Company insiders own 0.06% of the company’s stock.
Institutional Investors Weigh In On Newmont
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Newmont in the 2nd quarter valued at $11,289,753,000. Van ECK Associates Corp purchased a new position in shares of Newmont during the second quarter valued at about $671,197,000. Norges Bank purchased a new position in shares of Newmont during the fourth quarter valued at about $1,443,128,000. Bank of New York Mellon Corp bought a new stake in shares of Newmont in the second quarter worth about $1,219,505,000. Finally, First Eagle Investment Management LLC bought a new stake in shares of Newmont in the second quarter worth about $241,820,000. 68.85% of the stock is owned by hedge funds and other institutional investors.
Key Stories Impacting Newmont
Here are the key news stories impacting Newmont this week:
- Positive Sentiment: National Bank Financial raised its price target for Newmont from $120 to $140 while maintaining a “sector perform” rating, indicating potential upside from recent trading levels. National Bank Financial price-target update
- Positive Sentiment: Analysts highlighted Newmont’s record free cash flow, which is supporting organic growth projects and potential additional shareholder returns. The company is also benefiting from project expansions and resilient gold prices. Can Newmont’s Record Free Cash Flow Momentum Carry Into Q3?
- Positive Sentiment: Gold’s rebound, continued central-bank buying and supportive long-term bullion demand remain favorable for large producers such as Newmont. Gold Defied the Fed’s Rate Hike—These 3 Plays Stand Out
- Neutral Sentiment: A comparison with Agnico Eagle portrays both miners as benefiting from rising cash flows and expansion opportunities, but does not identify a new company-specific catalyst for NEM. AEM vs. NEM: Which Gold Mining Giant Should You Invest in Now?
- Negative Sentiment: The main pressure appears macro-driven: a stronger U.S. dollar, hawkish Federal Reserve commentary and concerns that rates may remain elevated pushed gold lower. Because Newmont’s earnings and cash flow are closely tied to bullion prices, weakness in gold can weigh disproportionately on the stock. Newmont shares fall as gold prices weaken and rate worries pressure miners
- Negative Sentiment: Recent insider-trading data showed sales by several executives, including the CEO and CFO, with no reported open-market purchases over the past six months. This may add to investor caution, although it is not evidence of an operational setback.
Newmont Company Profile
Newmont Corporation (NYSE: NEM) is a global mining company primarily focused on the exploration, development and production of gold. The company also produces copper, silver, zinc and lead as byproducts or from polymetallic operations. Its activities include operating mines, developing mineral projects and managing related processing and infrastructure assets.
Founded in 1921, Newmont became one of the first gold companies to be listed on the New York Stock Exchange. The company expanded significantly with its acquisition of Newcrest Mining, completed in 2023, which added major assets in Australia, Canada and Papua New Guinea to its portfolio.
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