Newmont Corporation (NYSE:NEM) Stock Has Average Price Target of $133.78

Newmont Corporation (NYSE:NEM) has received a consensus recommendation of “Moderate Buy” from the twenty-four analysts that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, nineteen have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $134.26.

Several brokerages have recently weighed in on NEM. Scotiabank lifted their target price on shares of Newmont from $147.00 to $149.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. BNP Paribas Exane lowered their price objective on Newmont from $111.00 to $102.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Argus set a $110.00 target price on Newmont in a research note on Monday, August 3rd. Finally, Canaccord Genuity Group reduced their price target on Newmont from $160.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, July 23rd.

Newmont Stock Up 0.7%

NEM opened at $115.51 on Tuesday. The business has a 50 day moving average price of $118.56 and a two-hundred day moving average price of $109.89. 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 company has a market cap of $121.72 billion, a PE ratio of 14.59, a P/E/G ratio of 1.61 and a beta of 0.51. Newmont has a 52 week low of $76.05 and a 52 week high of $135.29.

Newmont (NYSE:NEM) last released its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The business had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same quarter in the previous year, the company posted $1.43 earnings per share. As a group, research analysts anticipate that Newmont will post 9.09 EPS for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Investors of record on Thursday, September 3rd were paid a $0.26 dividend. The ex-dividend date was Thursday, September 3rd. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. Newmont’s dividend payout ratio (DPR) is 13.13%.

Insider Activity at Newmont

In other Newmont news, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $114.81, for a total value of $445,692.42. Following the completion of the transaction, the chief executive officer directly owned 127,471 shares of the company’s stock, valued at approximately $14,634,945.51. This trade represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $344,430.00. Following the completion of the sale, the executive vice president owned 34,315 shares in the company, valued at approximately $3,939,705.15. This represents a 8.04% 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. Insiders sold 35,973 shares of company stock worth $3,927,169 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Cedar Mountain Advisors LLC acquired a new position in shares of Newmont during the 1st quarter worth approximately $25,000. Pinnacle Bancorp Inc. acquired a new stake in Newmont during the 1st quarter valued at $25,000. GoalVest Advisory LLC purchased a new position in Newmont during the third quarter worth $28,000. Clearstead Trust LLC acquired a new position in shares of Newmont in the second quarter worth $25,000. Finally, Kilter Group LLC purchased a new stake in shares of Newmont in the second quarter valued at $26,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Key Stories Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Analysts raised Newmont’s price target to $145, implying meaningful potential upside from recent trading levels and reflecting confidence in the company’s gold production and cash-generation outlook. Newmont Price Target Raised to $145.00
• Positive Sentiment: Newmont is being highlighted as one of the gold-mining stocks to watch, which could attract investor interest while gold prices and demand for defensive assets remain supportive. Newmont And 2 Top Gold Mining Stocks To Watch
• Positive Sentiment: Newmont has a strong earnings-surprise record, and analysts expect the company to potentially beat estimates again in its upcoming report. Its latest quarterly results also exceeded consensus EPS expectations, supporting the bullish case. Will Newmont Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Investors are preparing for Newmont’s next earnings release, with attention likely focused on gold prices, production, costs and management’s outlook. What You Need to Know Ahead of Newmont’s Earnings Release
• Negative Sentiment: CEO Natascha Viljoen sold approximately $446,000 of shares, while EVP Peter Toth sold about $344,000. Both transactions were executed under pre-arranged Rule 10b5-1 plans, reducing their significance as a bearish signal, although insider selling can still weigh on sentiment. Newmont Insider Sale Filing
• Negative Sentiment: One recent analysis argued that Newmont’s shares appear priced above the company’s cash-flow outlook, raising concerns that substantial optimism may already be reflected in the valuation. Newmont Stock Looks Priced Above Its Cash Flow Outlook

About Newmont

Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company’s activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.