Newmont Corporation (NYSE:NEM) Receives $96.37 Average PT from Brokerages

Newmont Corporation (NYSE:NEM) has earned an average recommendation of “Buy” from the twenty-two ratings firms that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and five have issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $97.0765.

Several brokerages recently weighed in on NEM. Macquarie upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 5th. Argus lifted their price objective on Newmont from $75.00 to $94.00 in a report on Friday, November 21st. UBS Group lifted their target price on shares of Newmont from $105.50 to $125.00 and gave the stock a “buy” rating in a research note on Monday, December 1st. Citigroup raised their target price on shares of Newmont from $74.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Finally, The Goldman Sachs Group set a $104.30 target price on shares of Newmont and gave the company a “buy” rating in a report on Sunday, October 12th.

Key Headlines Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Ahafo North has started commercial production, adding roughly ~5% of low?cost gold volume to Newmont’s run?rate; management cost reductions and potential upside from majority control of Nevada Gold Mines should help margins and free cash flow. Newmont: Average On The Cost Curve, But Above Average Upside Potential
• Positive Sentiment: Raymond James raised its price target to $111 (from $99), signaling increased analyst confidence in Newmont’s outlook. Newmont price target raised to $111 from $99 at Raymond James
• Positive Sentiment: Zacks highlights Newmont’s strong six?month rally (c.82%) driven by higher gold prices, robust cash flow and portfolio focus — momentum that supports investor sentiment. NEM Rallies 82% on Gold Price Upside and Strategic Strength
• Neutral Sentiment: Commodity names are broadly bouncing back after a short?term safe?haven unwind and profit?taking in precious metals; sector momentum remains tied to metal price volatility. 2 Mining Giants Bouncing Back After Safe Haven Selloff
• Neutral Sentiment: Analysts’ views are mixed overall—upside price targets and buy arguments are balanced by notes warning of metals volatility and near?term headwinds. Analysts Have Mixed Views on Newmont (NEM)
• Negative Sentiment: Newmont shares fell sharply amid this week’s gold and silver pullback (profit?taking after record/high metals), which pressured miners before the rebound. Newmont Shares Drop 5% As Gold Slides From Record Highs
• Negative Sentiment: Intraday crashes tied to sharp silver/gold reversals prompted acute selling in miners; caution remains until metals stabilize. Why Newmont Corporation Stock Crashed Today
• Negative Sentiment: Market commentary notes silver’s overnight spike then >8% drop as investors locked profits, pulling down leading precious?metals stocks including Newmont. Stock Market Live December 29: S&P 500 (VOO) Falls to Start Second Holiday Week

Insider Activity at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the sale, the director directly owned 32,709 shares in the company, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the transaction, the chief executive officer owned 279,923 shares of the company’s stock, valued at $22,768,936.82. This trade represents a 1.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 9,160 shares of company stock worth $767,206. 0.05% of the stock is owned by insiders.

Institutional Trading of Newmont

Several institutional investors and hedge funds have recently added to or reduced their stakes in NEM. Envestnet Asset Management Inc. lifted its position in Newmont by 176.4% during the second quarter. Envestnet Asset Management Inc. now owns 447,960 shares of the basic materials company’s stock valued at $26,098,000 after acquiring an additional 285,897 shares during the last quarter. Knights of Columbus Asset Advisors LLC increased its position in shares of Newmont by 59.6% during the second quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock worth $912,000 after purchasing an additional 5,848 shares in the last quarter. Generate Investment Management Ltd lifted its holdings in shares of Newmont by 25.9% during the 2nd quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock valued at $22,079,000 after purchasing an additional 77,865 shares during the last quarter. Midwest Trust Co acquired a new stake in shares of Newmont in the 2nd quarter worth $4,424,000. Finally, Farther Finance Advisors LLC grew its stake in Newmont by 73.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 30,056 shares of the basic materials company’s stock worth $2,534,000 after buying an additional 12,717 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Trading Up 2.0%

NYSE:NEM opened at $101.80 on Friday. The firm has a 50 day moving average of $90.79 and a 200 day moving average of $78.28. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. Newmont has a 52 week low of $36.86 and a 52 week high of $106.34. The stock has a market capitalization of $111.09 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 0.69 and a beta of 0.41.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the previous year, the business earned $0.81 EPS. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Newmont will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Wednesday, November 26th. Newmont’s dividend payout ratio is 15.53%.

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.