Newmont (NYSE:NEM) Shares Up 2% – Here’s Why

Newmont Corporation (NYSE:NEM)’s stock price traded up 2% during trading on Tuesday . The stock traded as high as $102.71 and last traded at $101.7970. 5,987,417 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 11,431,961 shares. The stock had previously closed at $99.81.

Newmont News Summary

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Ahafo North has begun commercial production, adding ~5% of low?cost gold volume to Newmont’s run?rate; management cost cuts and potential additional synergies from majority control of Nevada Gold Mines should support margin expansion and free?cash?flow growth. Newmont: Average On The Cost Curve, But Above Average Upside Potential
• Positive Sentiment: Raymond James raised its price target to $111 from $99, signaling increased analyst confidence in upside versus prior estimates. That raises the near?term valuation narrative for the stock. Newmont price target raised to $111 from $99 at Raymond James
• Positive Sentiment: Broader perspective: Newmont has rallied strongly this year (reported ~82% gain over six months in commentary), supported by higher gold prices, portfolio focus and strong cash flow — factors that make pullbacks buying opportunities for some investors. NEM Rallies 82% on Gold Price Upside and Strategic Strength
• Neutral Sentiment: Commodity stocks broadly bounced back after yesterday’s profit?taking, a factor helping Newmont recover some losses; this is market?driven rather than company?specific. 2 Mining Giants Bouncing Back After Safe Haven Selloff
• Neutral Sentiment: Analysts remain mixed on NEM despite the price target lift — some see more upside, others warn of metal?price sensitivity; expect divergent estimates to keep headline volatility. Analysts Have Mixed Views on Newmont (NEM)
• Negative Sentiment: Near?term pressure came from a sharp slide in gold and especially silver after record highs; that metal pullback drove an intraday ~5% drop in Newmont shares as investors locked profits. Newmont Shares Drop 5% As Gold Slides From Record Highs
• Negative Sentiment: Coverage noted a sudden commodity profit?taking episode that caused a steep one?day selloff; volatility in silver (which fell double?digits intraday after an all?time high) amplified selling in precious?metals names including Newmont. Why Newmont Corporation Stock Crashed Today
• Negative Sentiment: Marketwide risk?off moves around metals prices (not specific to Newmont fundamentals) drove intraday weakness; if metal prices remain pressured, expect further headwinds to the stock. Stock Market Live December 29: S&P 500 (VOO) Falls to Start Second Holiday Week

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Argus increased their target price on Newmont from $75.00 to $94.00 in a report on Friday, November 21st. CIBC set a $112.00 price objective on Newmont and gave the stock an “outperformer” rating in a research note on Friday, October 10th. The Goldman Sachs Group set a $104.30 target price on Newmont and gave the company a “buy” rating in a research note on Sunday, October 12th. UBS Group upped their target price on Newmont from $105.50 to $125.00 and gave the company a “buy” rating in a report on Monday, December 1st. Finally, Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $71.50 to $114.00 in a research report on Thursday, October 23rd. Five research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $97.08.

Newmont Stock Up 2.0%

The firm has a market capitalization of $111.09 billion, a price-to-earnings ratio of 15.81, a price-to-earnings-growth ratio of 0.74 and a beta of 0.41. 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 business’s 50 day moving average is $90.48 and its 200-day moving average is $77.97.

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

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Newmont’s payout ratio is 15.53%.

Insider Activity

In other news, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $92.36, for a total transaction of $192,108.80. Following the sale, the director owned 32,709 shares of the company’s stock, valued at approximately $3,021,003.24. This trade represents a 5.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the sale, the chief executive officer owned 279,923 shares in the company, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 11,240 shares of company stock worth $943,985. Insiders own 0.05% of the company’s stock.

Hedge Funds Weigh In On Newmont

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC lifted its position in Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after buying an additional 1,847 shares in the last quarter. Ieq Capital LLC grew its stake in shares of Newmont by 30.4% during the first quarter. Ieq Capital LLC now owns 8,410 shares of the basic materials company’s stock valued at $406,000 after purchasing an additional 1,960 shares during the last quarter. Vident Advisory LLC increased its holdings in shares of Newmont by 7.6% in the first quarter. Vident Advisory LLC now owns 47,907 shares of the basic materials company’s stock valued at $2,313,000 after purchasing an additional 3,387 shares in the last quarter. Baird Financial Group Inc. raised its position in Newmont by 25.6% in the 1st quarter. Baird Financial Group Inc. now owns 564,165 shares of the basic materials company’s stock worth $27,238,000 after purchasing an additional 114,888 shares during the last quarter. Finally, Graham Capital Management L.P. bought a new position in Newmont in the 1st quarter worth approximately $825,000. 68.85% of the stock is owned by 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.