Newmont Corporation (NYSE:NEM – Free Report) – Scotiabank decreased their FY2027 earnings per share (EPS) estimates for shares of Newmont in a research note issued to investors on Wednesday, July 15th. Scotiabank analyst T. Jakusconek now forecasts that the basic materials company will post earnings per share of $9.07 for the year, down from their previous forecast of $9.17. Scotiabank currently has a “Sector Outperform” rating and a $147.00 target price on the stock. The consensus estimate for Newmont’s current full-year earnings is $9.07 per share.
Other analysts also recently issued research reports about the company. Canaccord Genuity Group boosted their price objective on Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. BMO Capital Markets dropped their target price on shares of Newmont from $145.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 23rd. Macquarie Infrastructure cut their price target on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a report on Monday, June 15th. Finally, Raymond James Financial reduced their price target on shares of Newmont from $139.00 to $137.00 and set an “outperform” rating for the company in a research report on Tuesday, June 30th. Two equities research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $136.26.
Newmont Trading Up 3.6%
NYSE:NEM opened at $92.45 on Monday. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. Newmont has a 1-year low of $59.96 and a 1-year high of $134.88. The firm has a market capitalization of $98.70 billion, a price-to-earnings ratio of 11.99, a price-to-earnings-growth ratio of 1.04 and a beta of 0.46. The stock has a fifty day simple moving average of $101.15 and a 200 day simple moving average of $110.14.
Newmont (NYSE:NEM – Get Free Report) last announced its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same period in the previous year, the firm earned $1.25 earnings per share. Newmont’s revenue for the quarter was up 45.8% compared to the same quarter last year.
Institutional Trading of Newmont
Institutional investors and hedge funds have recently made changes to their positions in the stock. GoalVest Advisory LLC bought a new position in shares of Newmont in the 4th quarter valued at approximately $25,000. Pinnacle Bancorp Inc. bought a new stake in Newmont during the first quarter worth approximately $25,000. Cedar Mountain Advisors LLC acquired a new position in Newmont during the first quarter valued at approximately $25,000. Swiss RE Ltd. acquired a new position in Newmont during the fourth quarter valued at approximately $26,000. Finally, Cornerstone Planning Group LLC raised its position in shares of Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 206 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.
Insider Buying and Selling at Newmont
In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $92.38, for a total value of $277,140.00. Following the completion of the sale, the executive vice president owned 43,315 shares of the company’s stock, valued at approximately $4,001,439.70. The trade was a 6.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the completion of the sale, the chief executive officer owned 142,999 shares of the company’s stock, valued at $15,060,654.68. This represents a 2.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 28,556 shares of company stock valued at $3,058,146. 0.06% of the stock is currently owned by insiders.
Newmont Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th were paid a $0.26 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. Newmont’s payout ratio is 13.49%.
Key Newmont News
Here are the key news stories impacting Newmont this week:
- Positive Sentiment: Wall Street brokerage sentiment remains upbeat on Newmont, which can support the stock as investors look for analyst confidence ahead of earnings. Wall Street Bulls Look Optimistic About Newmont (NEM): Should You Buy?
- Positive Sentiment: Strong gold prices remain a key tailwind for Newmont, helping offset some operational pressure and reinforcing the investment case for the gold producer. Here’s How to Play Newmont Stock Before Q2 Earnings Release
- Neutral Sentiment: Several recent articles focus on how to trade or value Newmont ahead of earnings, reflecting heightened attention but not a clear new fundamental catalyst. Here’s How to Play Newmont Stock Before Q2 Earnings Release
- Neutral Sentiment: Some market commentary says Newmont could be volatile around earnings due to U.S.-Iran tensions and the upcoming report, which may increase trading activity without clearly favoring direction. Newmont Stock Suddenly Offers a Double-Sided Debit Trade on U.S.-Iran Tensions and Upcoming Earnings
- Negative Sentiment: Expectations for lower production, rising costs, and weaker margins in Q2 could pressure shares if Newmont’s earnings or guidance come in below hopes. Here’s How to Play Newmont Stock Before Q2 Earnings Release
- Negative Sentiment: Scotiabank’s negative outlook for FY2027 earnings adds another cautionary note for investors focused on longer-term profitability. Scotiabank Has Negative Outlook for Newmont FY2027 Earnings
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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