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

Newmont (NYSE:NEM) had its price target lifted by equities researchers at Raymond James from $54.00 to $63.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. Raymond James’ price objective suggests a potential upside of 41.81% from the stock’s previous close. Raymond James also issued estimates for Newmont’s Q1 2025 earnings at $0.81 EPS, Q1 2025 earnings at $0.81 EPS, Q2 2025 earnings at $0.56 EPS, Q2 2025 earnings at $0.56 EPS, Q3 2025 earnings at $0.59 EPS, Q4 2025 earnings at $0.69 EPS, Q4 2025 earnings at $0.69 EPS, FY2025 earnings at $2.65 EPS and FY2025 earnings at $2.65 EPS.

NEM has been the topic of a number of other reports. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Scotiabank reduced their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. National Bank Financial raised shares of Newmont to a “hold” rating in a research note on Friday, March 21st. TD Securities decreased their price target on shares of Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada upped their price objective on shares of Newmont from $51.00 to $52.00 and gave the company a “sector perform” rating in a research note on Friday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.44.

Newmont Price Performance

NEM stock traded down $3.91 on Friday, reaching $44.43. 12,583,167 shares of the company’s stock were exchanged, compared to its average volume of 9,693,898. The stock has a fifty day moving average of $45.30 and a 200-day moving average of $45.39. The firm has a market cap of $50.08 billion, a PE ratio of 15.11, a P/E/G ratio of 0.41 and a beta of 0.54. 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 has a twelve month low of $36.60 and a twelve month high of $58.72.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.32 billion. As a group, equities analysts predict that Newmont will post 3.45 EPS for the current fiscal year.

Insider Buying and Selling at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the sale, the director now directly owns 52,070 shares in the company, valued at $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Natascha Viljoen sold 9,000 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $360,000.00. Following the completion of the transaction, the chief operating officer now directly owns 145,967 shares of the company’s stock, valued at $5,838,680. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,231 shares of company stock valued at $1,388,758 over the last 90 days. 0.05% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NEM. HHM Wealth Advisors LLC lifted its position in shares of Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 350 shares during the last quarter. Redwood Park Advisors LLC bought a new position in Newmont during the 4th quarter worth approximately $37,000. Promus Capital LLC acquired a new position in shares of Newmont in the 4th quarter worth approximately $38,000. McIlrath & Eck LLC lifted its stake in Newmont by 80.6% during the third quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 361 shares during the last quarter. Finally, Kestra Investment Management LLC acquired a new position in Newmont in the fourth quarter worth $43,000. 68.85% of the stock is owned by institutional investors and hedge funds.

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.