Shares of Newmont Corporation (NYSE:NEM – Get Free Report) have been given an average rating of “Moderate Buy” by the twenty-four analysts that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $132.5905.
Several equities analysts have commented on the stock. Royal Bank Of Canada dropped their price target on shares of Newmont from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. TD Securities upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Argus set a $110.00 target price on shares of Newmont in a report on Monday, August 3rd. Weiss Ratings downgraded shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Finally, Citigroup cut their price target on shares of Newmont from $150.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday, July 20th.
View Our Latest Report on Newmont
Insiders Place Their Bets
Institutional Investors Weigh In On Newmont
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEM. Novem Group increased its holdings in shares of Newmont by 3.7% in the 4th quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock valued at $248,000 after acquiring an additional 88 shares during the period. Parkside Financial Bank & Trust boosted its stake in Newmont by 1.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock worth $714,000 after purchasing an additional 96 shares during the period. Coston McIsaac & Partners boosted its stake in Newmont by 28.6% during the 4th quarter. Coston McIsaac & Partners now owns 450 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 100 shares during the period. Creative Financial Designs Inc. ADV grew its position in Newmont by 6.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,647 shares of the basic materials company’s stock worth $164,000 after purchasing an additional 100 shares during the last quarter. Finally, Blue Trust Inc. grew its position in Newmont by 0.6% during the 1st quarter. Blue Trust Inc. now owns 17,194 shares of the basic materials company’s stock worth $1,861,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.
More Newmont News
Here are the key news stories impacting Newmont this week:
- Positive Sentiment: New Nevada earn-in agreement: Newmont signed an agreement with Headwater Gold to earn an interest in the Jupiter Project, a potential district-scale epithermal gold project in Nevada. The deal expands Newmont’s exploration pipeline and could provide additional future resource growth. Headwater Gold and Newmont sign earn-in agreement for Jupiter project
- Positive Sentiment: Gold-market support: Gold prices near record levels are improving the outlook for gold producers such as Newmont and have been a major factor behind the company’s recent rally. Newmont’s Nevada agreements, including the Jupiter earn-in and its Spring Peak joint venture, further support investor interest in future production growth. Is Newmont in the spotlight as gold sits near record highs?
- Positive Sentiment: Optimistic analyst outlook: TD Securities and Scotiabank reportedly expect further appreciation in Newmont’s stock. Recent analyst targets compiled in market commentary show a median target of approximately $145.50, above the current trading level, although targets remain sensitive to gold prices and operating execution. Newmont stock price expected to rise, TD analyst says
- Positive Sentiment: Unusual options activity: Traders purchased 47,733 NEM call options, roughly 119% above average call volume. This indicates heightened bullish positioning, though options activity can also reflect short-term speculation rather than a change in fundamentals.
- Neutral Sentiment: Valuation debate: One analysis estimates Newmont could be about 19% undervalued following its Nevada deals, while another notes that the recent rally may already reflect much of the benefit from higher gold prices. Newmont could be 19% undervalued following Nevada gold deals
- Negative Sentiment: Operating risks and profit-taking: Analysts continue to flag lower production, rising costs and potentially weaker estimates. Investors are also monitoring uncertainty surrounding Nevada Gold Mines, Barrick’s Fourmile project and the valuation of the joint venture.
- Negative Sentiment: Insider selling: Reported insider activity shows 15 open-market sales and no purchases over the past six months, including sales by senior executives. This may weigh on sentiment, though insider transactions do not necessarily indicate a change in the company’s outlook.
Newmont Trading Up 3.2%
NEM opened at $117.80 on Monday. Newmont has a one year low of $67.20 and a one year high of $134.88. The company has a market cap of $124.12 billion, a P/E ratio of 14.87, a PEG ratio of 1.27 and a beta of 0.47. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The business’s 50-day simple moving average is $98.93 and its 200-day simple moving average is $108.98.
Newmont (NYSE:NEM – Get Free Report) last issued its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.05. The business had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same quarter last year, the company earned $1.43 EPS. As a group, equities research analysts expect that Newmont will post 9 EPS for the current fiscal year.
Newmont Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, September 3rd. Newmont’s dividend payout ratio is currently 13.13%.
Newmont Company Profile
Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.
Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.
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