Newmont (NYSE:NEM) Stock Price Target Cut by TD Cowen

Newmont (NYSE:NEM) had its price objective cut by analysts at TD Cowen from $133.00 to $131.00 in a research report issued on Tuesday. TD Cowen‘s target price indicates a potential upside of 18.98% from the company’s current price.

NEM has been the topic of several other research reports. BNP Paribas Exane dropped their target price on shares of Newmont from $111.00 to $102.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Wall Street Zen cut shares of Newmont from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Scotiabank upped their price target on shares of Newmont from $147.00 to $149.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. TD Securities raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Finally, Canadian Imperial Bank of Commerce set a $154.00 price objective on Newmont in a research note on Friday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $137.25.

Newmont Stock Performance

Shares of NYSE:NEM traded down $4.00 during trading on Tuesday, reaching $110.11. The stock had a trading volume of 3,723,893 shares, compared to its average volume of 8,502,421. Newmont has a 52 week low of $76.05 and a 52 week high of $135.29. The firm has a market capitalization of $116.02 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 2.17 and a beta of 0.51. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $122.05 and a two-hundred day simple moving average of $111.00.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.26. The business had revenue of $6.36 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. Newmont’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.71 earnings per share. As a group, analysts anticipate that Newmont will post 9.04 earnings per share for the current fiscal year.

Insider Activity at Newmont

In related news, CFO Brian Tabolt sold 11,445 shares of the company’s stock in a transaction 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 in the company, valued at $3,081,659.16. This represents a 28.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total transaction of $344,430.00. Following the completion of the sale, the executive vice president directly owned 34,315 shares of the company’s stock, valued at approximately $3,939,705.15. This trade represents a 8.04% decrease in their ownership of the stock. 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. Insiders sold a total of 35,973 shares of company stock worth $3,927,169 in the last ninety days. 0.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Newmont

Several hedge funds have recently made changes to their positions in NEM. Pinnacle Bancorp Inc. acquired a new stake in Newmont during the first quarter worth about $25,000. Cedar Mountain Advisors LLC bought a new position in Newmont during the first quarter valued at about $25,000. Clearstead Trust LLC acquired a new position in Newmont in the 2nd quarter valued at approximately $25,000. Kilter Group LLC acquired a new position in Newmont in the 2nd quarter valued at approximately $26,000. Finally, GoalVest Advisory LLC acquired a new position in Newmont in the 3rd quarter valued at approximately $28,000. Institutional investors own 68.85% of the company’s stock.

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont reported adjusted earnings of $2.20 per share, above the $1.94 analyst consensus, while revenue rose 15.2% year over year to $6.36 billion. Higher gold prices, stronger gold sales and a recovery at Cadia helped drive the results. Newmont beats quarterly profit estimates on higher gold prices
• Positive Sentiment: Cash generation was strong, with third-quarter free cash flow of approximately $1.9 billion. Investors also received support from the company’s capital-return program, including a quarterly dividend of about $0.26 per share and a large buyback highlighted in recent coverage.
• Positive Sentiment: Management remains on track to achieve its 2026 production guidance and expects gold production to rebound in 2027, providing a potential growth catalyst for NEM. NEM Q3 Earnings Call Highlights
• Neutral Sentiment: Newmont improved its full-year 2026 all-in sustaining cost outlook to approximately $1,520 per ounce, but the figure still reflects elevated operating costs. The company also expects higher capital spending for the Red Chris expansion.
• Negative Sentiment: Red Chris commercial production is now targeted for 2033, making the project a distant payoff and increasing investor focus on execution, funding and interim cost pressures. Silver production is also expected to decline. Newmont targets Red Chris commercial production in 2033
• Negative Sentiment: Analyst sentiment was mixed: RBC raised its target to $155 with an outperform rating, while Freedom Broker maintained a hold rating but cut its target to $116. Other coverage questioned whether NEM is fully valued after its roughly 223% three-year gain, limiting the upside reaction to the earnings beat.

About Newmont

Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.