Newmont (NYSE:NEM – Free Report) had its price target boosted by National Bank Financial from $120.00 to $140.00 in a research report sent to investors on Monday. They currently have a sector perform rating on the basic materials company’s stock.
A number of other equities research analysts also recently weighed in on the stock. BNP Paribas Exane dropped their price target on shares of Newmont from $111.00 to $102.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. The Goldman Sachs Group dropped their target price on shares of Newmont from $122.50 to $111.40 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Scotiabank lifted their price objective on Newmont from $147.00 to $149.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Jefferies Financial Group cut their target price on Newmont from $158.00 to $146.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Finally, Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Newmont has an average rating of “Moderate Buy” and a consensus price target of $133.78.
Newmont Trading Down 1.7%
Newmont (NYSE:NEM – Get Free Report) last announced its quarterly earnings data 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. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The firm had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. During the same period in the previous year, the business posted $1.43 EPS. As a group, research analysts predict that Newmont will post 9.09 earnings per share for the current year.
Newmont Announces Dividend
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 given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, September 3rd. Newmont’s dividend payout ratio (DPR) is currently 13.13%.
Insiders Place Their Bets
In other news, CFO Brian Tabolt sold 11,445 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the transaction, the chief financial officer directly owned 29,324 shares of the company’s stock, valued at $3,081,659.16. This trade represents a 28.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Natascha Viljoen sold 7,764 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction of $807,456.00. Following the transaction, the chief executive officer owned 135,235 shares of the company’s stock, valued at $14,064,440. The trade was a 5.43% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 32,091 shares of company stock valued at $3,414,187 in the last quarter. 0.06% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Newmont
A number of institutional investors and hedge funds have recently made changes to their positions in NEM. QRG Capital Management Inc. grew its stake in shares of Newmont by 2.4% in the second quarter. QRG Capital Management Inc. now owns 225,867 shares of the basic materials company’s stock valued at $21,096,000 after buying an additional 5,312 shares in the last quarter. State Street Corp grew its position in shares of Newmont by 3.1% in the 2nd quarter. State Street Corp now owns 52,396,702 shares of the basic materials company’s stock valued at $4,893,852,000 after acquiring an additional 1,565,716 shares during the period. Core Capital Management & Research inc. acquired a new position in shares of Newmont during the 2nd quarter worth about $467,000. Integrated Wealth Concepts LLC raised its holdings in shares of Newmont by 3.9% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 58,415 shares of the basic materials company’s stock valued at $5,456,000 after purchasing an additional 2,218 shares during the period. Finally, Nykredit A S acquired a new stake in Newmont in the 2nd quarter valued at about $38,917,000. Institutional investors own 68.85% of the company’s stock.
Key Headlines 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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