Scotiabank Forecasts Newmont’s FY2025 Earnings (NYSE:NEM)

Newmont Corporation (NYSE:NEM) – Analysts at Scotiabank raised their FY2025 EPS estimates for Newmont in a research note issued on Friday, January 30th. Scotiabank analyst T. Jakusconek now expects that the basic materials company will post earnings per share of $6.41 for the year, up from their prior estimate of $6.12. Scotiabank has a “Outperform” rating and a $152.00 price objective on the stock. The consensus estimate for Newmont’s current full-year earnings is $3.45 per share.

Other equities research analysts have also recently issued research reports about the company. BMO Capital Markets raised their price objective on Newmont from $114.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, January 28th. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Canaccord Genuity Group boosted their price target on shares of Newmont from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. The Goldman Sachs Group raised their price objective on shares of Newmont from $99.90 to $123.90 and gave the company a “buy” rating in a research note on Monday, January 12th. Finally, Raymond James Financial boosted their target price on shares of Newmont from $111.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, January 15th. Six investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Newmont presently has a consensus rating of “Buy” and an average target price of $112.38.

Newmont Stock Performance

Shares of Newmont stock opened at $112.83 on Monday. The business has a 50-day simple moving average of $105.05 and a 200 day simple moving average of $87.66. Newmont has a one year low of $41.23 and a one year high of $134.88. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The firm has a market capitalization of $123.12 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 0.86 and a beta of 0.40.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the sale, the director owned 32,709 shares in the company, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.05% of the company’s stock.

Institutional Trading of Newmont

A number of institutional investors and hedge funds have recently modified their holdings of NEM. GoalVest Advisory LLC purchased a new stake in shares of Newmont during the 4th quarter valued at $25,000. Cornerstone Planning Group LLC grew its position in Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after buying an additional 206 shares during the period. Lodestone Wealth Management LLC purchased a new stake in Newmont during the fourth quarter worth about $28,000. Laurel Wealth Advisors LLC bought a new stake in Newmont in the fourth quarter worth about $30,000. Finally, Rosenberg Matthew Hamilton boosted its stake in Newmont by 308.0% in the fourth quarter. Rosenberg Matthew Hamilton now owns 306 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 231 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

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.