Newmont (NYSE:NEM) Price Target Cut to $59.00 by Analysts at Raymond James

Newmont (NYSE:NEM) had its price objective cut by Raymond James from $62.00 to $59.00 in a research report released on Monday morning,Benzinga reports. They currently have an outperform rating on the basic materials company’s stock. Raymond James also issued estimates for Newmont’s Q2 2025 earnings at $0.83 EPS, Q3 2025 earnings at $0.83 EPS and FY2025 earnings at $3.39 EPS.

A number of other equities research analysts have also recently weighed in on NEM. UBS Group cut Newmont from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $67.00 to $54.00 in a research note on Wednesday, October 30th. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Jefferies Financial Group boosted their price objective on Newmont from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Veritas raised Newmont to a “strong-buy” rating in a report on Monday, September 30th. Finally, Argus raised Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.31.

Newmont Price Performance

NEM stock opened at $42.46 on Monday. The business has a 50 day moving average price of $50.01 and a 200 day moving average price of $47.51. The stock has a market cap of $48.34 billion, a price-to-earnings ratio of -27.93, a PEG ratio of 0.38 and a beta of 0.51. Newmont has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The firm had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the prior year, the firm posted $0.36 EPS. Newmont’s quarterly revenue was up 84.7% compared to the same quarter last year. Equities research analysts anticipate that Newmont will post 3.09 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Wednesday, November 27th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Wednesday, November 27th. Newmont’s dividend payout ratio is presently -65.79%.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the sale, the executive vice president now directly owns 91,596 shares in the company, valued at $4,928,780.76. This represents a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total value of $1,076,200.00. Following the completion of the sale, the chief executive officer now owns 271,469 shares in the company, valued at $14,607,746.89. This represents a 6.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,000 shares of company stock valued at $2,444,440. Insiders own 0.06% of the company’s stock.

Institutional Trading of Newmont

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC lifted its position in Newmont by 5.4% during the third quarter. Tidal Investments LLC now owns 163,695 shares of the basic materials company’s stock worth $8,749,000 after buying an additional 8,412 shares during the period. Cim Investment Management Inc. purchased a new position in Newmont during the third quarter worth about $1,033,000. Wilmington Savings Fund Society FSB purchased a new position in Newmont during the third quarter worth about $422,000. Sanctuary Advisors LLC lifted its position in Newmont by 117.3% during the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock worth $1,854,000 after buying an additional 18,722 shares during the period. Finally, Virtu Financial LLC raised its holdings in shares of Newmont by 183.2% in the 3rd quarter. Virtu Financial LLC now owns 23,136 shares of the basic materials company’s stock worth $1,237,000 after purchasing an additional 14,967 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.