Newmont (NYSE:NEM) Price Target Raised to $133.00

Newmont (NYSE:NEM) had its price objective hoisted by TD from $127.00 to $133.00 in a report issued on Wednesday morning,BayStreet.CA reports. TD currently has a buy rating on the basic materials company’s stock.

A number of other equities analysts have also recently weighed in on the company. Weiss Ratings cut Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. Citigroup dropped their price target on shares of Newmont from $150.00 to $125.00 and set a “buy” rating for the company in a research note on Monday, July 20th. Wall Street Zen cut shares of Newmont from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Argus set a $110.00 target price on shares of Newmont in a research note on Monday, August 3rd. Finally, Canaccord Genuity Group reduced their price objective on shares of Newmont from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Newmont currently has an average rating of “Moderate Buy” and an average target price of $132.59.

Newmont Stock Performance

Shares of NEM stock opened at $117.80 on Wednesday. The business has a fifty day moving average of $98.93 and a 200 day moving average of $108.98. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. The firm has a market capitalization of $124.12 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 1.27 and a beta of 0.47. Newmont has a 1 year low of $67.20 and a 1 year high of $134.88.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The firm had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. During the same period last year, the business posted $1.43 earnings per share. As a group, research analysts expect that Newmont will post 9 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. Newmont’s dividend payout ratio (DPR) is presently 13.13%.

Insider Buying and Selling

In other Newmont news, CEO Natascha Viljoen sold 7,764 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total transaction of $807,456.00. Following the sale, the chief executive officer directly owned 135,235 shares of the company’s stock, valued at $14,064,440. This trade represents a 5.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $93.45, for a total transaction of $280,350.00. Following the completion of the sale, the executive vice president directly owned 40,315 shares of the company’s stock, valued at $3,767,436.75. The trade was a 6.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 32,091 shares of company stock worth $3,292,513. 0.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Newmont

Several large investors have recently added to or reduced their stakes in the business. Novem Group increased its position in Newmont by 3.7% during the 4th quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock worth $248,000 after purchasing an additional 88 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Newmont by 1.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock worth $714,000 after buying an additional 96 shares during the period. Coston McIsaac & Partners grew its stake in shares of Newmont by 28.6% in the fourth quarter. Coston McIsaac & Partners now owns 450 shares of the basic materials company’s stock valued at $44,000 after buying an additional 100 shares in the last quarter. Creative Financial Designs Inc. ADV raised its holdings in shares of Newmont by 6.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,647 shares of the basic materials company’s stock valued at $164,000 after buying an additional 100 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of Newmont by 0.6% during the 1st quarter. Blue Trust Inc. now owns 17,194 shares of the basic materials company’s stock valued at $1,861,000 after buying an additional 100 shares during the period. 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: New Nevada earn-in agreement: Newmont signed an agreement with Headwater Gold to earn an interest in the Jupiter Project, a potential district-scale epithermal gold project in Nevada. The deal expands Newmont’s exploration pipeline and could provide additional future resource growth. Headwater Gold and Newmont sign earn-in agreement for Jupiter project
• Positive Sentiment: Gold-market support: Gold prices near record levels are improving the outlook for gold producers such as Newmont and have been a major factor behind the company’s recent rally. Newmont’s Nevada agreements, including the Jupiter earn-in and its Spring Peak joint venture, further support investor interest in future production growth. Is Newmont in the spotlight as gold sits near record highs?
• Positive Sentiment: Optimistic analyst outlook: TD Securities and Scotiabank reportedly expect further appreciation in Newmont’s stock. Recent analyst targets compiled in market commentary show a median target of approximately $145.50, above the current trading level, although targets remain sensitive to gold prices and operating execution. Newmont stock price expected to rise, TD analyst says
• Positive Sentiment: Unusual options activity: Traders purchased 47,733 NEM call options, roughly 119% above average call volume. This indicates heightened bullish positioning, though options activity can also reflect short-term speculation rather than a change in fundamentals.
• Neutral Sentiment: Valuation debate: One analysis estimates Newmont could be about 19% undervalued following its Nevada deals, while another notes that the recent rally may already reflect much of the benefit from higher gold prices. Newmont could be 19% undervalued following Nevada gold deals
• Negative Sentiment: Operating risks and profit-taking: Analysts continue to flag lower production, rising costs and potentially weaker estimates. Investors are also monitoring uncertainty surrounding Nevada Gold Mines, Barrick’s Fourmile project and the valuation of the joint venture.
• Negative Sentiment: Insider selling: Reported insider activity shows 15 open-market sales and no purchases over the past six months, including sales by senior executives. This may weigh on sentiment, though insider transactions do not necessarily indicate a change in the company’s outlook.

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.