Newmont (NYSE:NEM) Hits New 1-Year High After Analyst Upgrade

Newmont Corporation (NYSE:NEM) reached a new 52-week high during trading on Tuesday after DZ Bank upgraded the stock to a strong-buy rating. The stock traded as high as $118.49 and last traded at $117.9510, with a volume of 1256520 shares. The stock had previously closed at $114.12.

Other research analysts have also recently issued reports about the company. Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $71.50 to $114.00 in a research note on Thursday, October 23rd. UBS Group upped 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. Argus boosted their price target on shares of Newmont from $75.00 to $94.00 in a report on Friday, November 21st. Citigroup restated a “buy” rating on shares of Newmont in a report on Monday, January 12th. Finally, CIBC set a $112.00 target price on shares of Newmont and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Six equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $99.49.

Insider Activity

In related news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the sale, the director owned 32,709 shares in the company, valued at $3,021,003.24. This represents a 5.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the firm’s stock in a transaction 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 directly owned 279,923 shares in the company, valued at $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 9,160 shares of company stock valued at $767,206 over the last three months. Company insiders own 0.05% of the company’s stock.

Key Headlines Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Broker and analyst upgrades: DZ Bank raised NEM to “strong?buy,” and aggregated brokerage coverage shows an average “Buy” rating — these endorsements support demand from institutional and retail buyers. DZ Bank Upgrade / Zacks
• Positive Sentiment: Market commentary: A Zacks piece noted Newmont outpaced the market in the latest session, highlighting immediate positive price action and momentum into the close. Why Newmont Corporation (NEM) Outpaced the Stock Market Today
• Positive Sentiment: Bullish fundamental case: A Seeking Alpha article reiterates a “Strong Buy” view, arguing gold and copper price tailwinds, strong profitability, and favorable forward P/E/PEG metrics imply the market may still be undervaluing Newmont’s long?term prospects. Newmont: Turning Looming Geopolitical Crisis Into Shareholder Value
• Neutral Sentiment: Valuation check: A Yahoo Finance piece reviews NEM’s valuation after the recent run, suggesting investors re?assess whether the share?price momentum has priced in the company’s fundamentals and commodity outlook. This is more analytic than directional but may prompt profit?taking or pause buys. Assessing Newmont (NEM) Valuation After Strong Recent Share Price Momentum
• Neutral Sentiment: Sectors look attractive: A Zacks piece recommending two basic?materials stocks flags Newmont as part of a broader opportunity set using Earnings ESP and other screens — supportive context but not a firm buy signal on its own. Why Investors Need to Take Advantage of These 2 Basic Materials Stocks Now
• Positive Sentiment: Consensus backing: Coverage summarized by American Banking News shows brokers’ average rating at “Buy,” reinforcing the buy?side narrative supporting today’s gains. Newmont Corporation (NYSE:NEM) Receives Average Rating of “Buy” from Brokerages

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Newmont in the 2nd quarter valued at about $919,170,000. Invesco Ltd. lifted its holdings in shares of Newmont by 45.0% in the second quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock valued at $908,152,000 after purchasing an additional 4,839,447 shares in the last quarter. Legal & General Group Plc grew its position in shares of Newmont by 9.6% in the third quarter. Legal & General Group Plc now owns 8,156,669 shares of the basic materials company’s stock valued at $687,223,000 after purchasing an additional 711,940 shares during the last quarter. Boston Partners increased its stake in shares of Newmont by 49.3% during the 3rd quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock worth $585,828,000 after purchasing an additional 2,288,653 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Newmont by 33.8% during the 3rd quarter. Victory Capital Management Inc. now owns 4,925,237 shares of the basic materials company’s stock worth $414,270,000 after purchasing an additional 1,244,845 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Price Performance

The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The company has a 50-day moving average of $99.20 and a 200-day moving average of $83.88. The stock has a market capitalization of $132.77 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 0.90 and a beta of 0.41.

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

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.