Argus Issues Positive Forecast for Newmont (NYSE:NEM) Stock Price

Newmont (NYSE:NEM) had its price target boosted by Argus from $94.00 to $125.00 in a research report sent to investors on Thursday,MarketScreener reports. They currently have a buy rating on the basic materials company’s stock.

NEM has been the subject of several other reports. Scotiabank cut their target price on shares of Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a report on Friday, March 20th. UBS Group lowered their target price on shares of Newmont from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. BMO Capital Markets lowered their target price on shares of Newmont from $145.00 to $140.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. National Bank Financial set a $130.00 price objective on shares of Newmont and gave the company a “sector perform” rating in a report on Thursday, April 16th. Finally, Sanford C. Bernstein raised shares of Newmont from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $121.00 to $157.00 in a report on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.81.

Newmont Stock Performance

Shares of NYSE NEM opened at $111.00 on Thursday. The company has a current ratio of 2.29, a quick ratio of 2.02 and a debt-to-equity ratio of 0.16. Newmont has a 12 month low of $48.27 and a 12 month high of $134.88. The company has a 50 day simple moving average of $114.75 and a two-hundred day simple moving average of $104.44. The stock has a market cap of $119.87 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 0.85 and a beta of 0.46.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.07 by $0.83. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The business had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same period in the previous year, the business posted $1.25 EPS. The business’s quarterly revenue was up 45.8% compared to the same quarter last year. As a group, analysts predict that Newmont will post 8.92 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s dividend payout ratio is currently 16.28%.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $113.09, for a total value of $339,270.00. Following the sale, the executive vice president directly owned 52,315 shares of the company’s stock, valued at approximately $5,916,303.35. This represents a 5.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider David James Fry sold 18,394 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the transaction, the insider owned 17,147 shares in the company, valued at $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,394 shares of company stock worth $2,713,281 over the last 90 days. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Newmont

Hedge funds have recently added to or reduced their stakes in the stock. GoalVest Advisory LLC purchased a new position in Newmont in the fourth quarter valued at approximately $25,000. Pinnacle Bancorp Inc. purchased a new position in Newmont in the first quarter valued at approximately $25,000. Physician Wealth Advisors Inc. increased its stake in Newmont by 327.8% in the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 236 shares during the last quarter. Swiss RE Ltd. purchased a new position in Newmont in the fourth quarter valued at approximately $26,000. Finally, Cornerstone Planning Group LLC increased its stake in Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 206 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont News Roundup

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Q1 beat — Newmont reported adjusted EPS of $2.90 vs. ~$2.07 consensus and revenue $7.31B (above estimates); management said production ~1.3M attributable gold ounces. This strong beat is the main fundamental driver supporting the stock. Newmont Tops Q1 Earnings and Revenue Estimates
• Positive Sentiment: Record cash flow and buyback — Newmont reported an all-time record quarterly free cash flow (~$3.1B) and increased its share repurchase authorization, a clear shareholder-friendly move likely to support the share price. Newmont Generates Record Quarterly Earnings and Free Cash Flow
• Positive Sentiment: Dividend declared — the company declared a quarterly dividend of about $0.261 per share, which supports income-oriented investors and signals confidence in cash generation. Dividend Announcement
• Positive Sentiment: Analyst upgrades on valuation — BMO raised its price target to $140 (maintained Outperform) and Argus raised its target to $125 (Buy), reflecting bullish views on cash flow and the company’s asset mix. BMO Price Target Raise
• Neutral Sentiment: SEC filings & investor call — Newmont filed its Q1 report with the U.S. SEC and scheduled an investor call, standard disclosures that provide more details for investors but are procedural. SEC Filing & Investor Call
• Neutral Sentiment: Valuation discussion — coverage pieces note Newmont’s recent earnings streak, Newcrest deal implications and strong momentum; useful context but not immediate catalysts. Valuation Assessment
• Negative Sentiment: Regulatory risk in Ghana — Reuters reports Ghana directed Newmont and peers to shift mining operations to local firms by December, raising operational and political risk for West Africa assets. This kind of local content/order risk can hit investor sentiment. Ghana Directive
• Negative Sentiment: Analyst caution — some firms (TD/TD Cowen) have issued more pessimistic forecasts or lowered expectations, which can cap near-term upside despite the beat. Analyst Pessimistic Forecasts
• Negative Sentiment: Macroeconomic headwinds for gold — a firmer U.S. dollar and mixed safe-haven flows are pressuring gold-sector sentiment, which can mute gains in gold equities even after company-specific beats. Gold Market Headwinds

About Newmont

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.