Newmont (NYSE:NEM) Price Target Cut to $131.00 by Analysts at TD Cowen

Newmont (NYSE:NEM) had its target price decreased by TD Cowen from $133.00 to $131.00 in a report released on Tuesday.

A number of other equities research analysts have also recently issued reports on NEM. Canadian Imperial Bank of Commerce set a $154.00 target price on Newmont in a research note on Friday, October 16th. BMO Capital Markets increased their price objective on shares of Newmont from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, September 29th. Wall Street Zen cut shares of Newmont from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. TD Securities upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Finally, Citigroup boosted their price objective on Newmont from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $137.25.

Newmont Stock Down 3.5%

Newmont stock traded down $3.97 during midday trading on Tuesday, hitting $110.14. The stock had a trading volume of 3,651,162 shares, compared to its average volume of 8,501,246. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15. The stock has a market cap of $116.05 billion, a P/E ratio of 13.91, a P/E/G ratio of 2.17 and a beta of 0.51. Newmont has a 12 month low of $76.05 and a 12 month high of $135.29. The business has a fifty day moving average price of $122.05 and a 200 day moving average price of $111.00.

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

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Wednesday, November 25th will be issued 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 Wednesday, November 25th. Newmont’s dividend payout ratio is presently 13.13%.

Insider Activity

In other news, CEO Natascha Viljoen sold 3,882 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total transaction of $445,692.42. Following the sale, the chief executive officer owned 127,471 shares in the company, valued at $14,634,945.51. The trade was a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of Newmont stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total value of $1,202,755.05. Following the transaction, the chief financial officer directly owned 29,324 shares in the company, valued at approximately $3,081,659.16. This trade represents a 28.07% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 35,973 shares of company stock worth $3,927,169. Insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Newmont

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Newmont in the second quarter worth approximately $11,289,753,000. State Street Corp grew its position in Newmont by 3.1% in the second quarter. State Street Corp now owns 52,396,702 shares of the basic materials company’s stock worth $4,893,852,000 after acquiring an additional 1,565,716 shares in the last quarter. Bank of New York Mellon Corp grew its position in Newmont by 5.3% in the first quarter. Bank of New York Mellon Corp now owns 12,237,940 shares of the basic materials company’s stock worth $1,324,757,000 after acquiring an additional 615,461 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Newmont by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,359,524 shares of the basic materials company’s stock worth $1,012,792,000 after purchasing an additional 184,586 shares during the last quarter. Finally, Amundi lifted its stake in shares of Newmont by 4.4% in the 1st quarter. Amundi now owns 8,780,775 shares of the basic materials company’s stock valued at $950,519,000 after purchasing an additional 372,415 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont News Roundup

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.

Newmont Company Profile

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.