Newmont (NYSE:NEM) Price Target Raised to $149.00

Newmont (NYSE:NEM) had its price objective lifted by Scotiabank from $147.00 to $149.00 in a report published on Wednesday, MarketBeat reports. Scotiabank currently has a sector outperform rating on the basic materials company’s stock.

NEM has been the subject of a number of other reports. Macquarie Infrastructure decreased their price target on Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a research note on Monday, June 15th. Argus set a $110.00 target price on shares of Newmont in a report on Monday, August 3rd. Raymond James Financial dropped their price target on shares of Newmont from $139.00 to $137.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 30th. UBS Group dropped their target price on shares of Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Finally, Bank of America cut their target price on shares of Newmont from $157.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.59.

Newmont Trading Up 3.2%

NEM opened at $117.80 on Wednesday. Newmont has a twelve month low of $67.20 and a twelve month high of $134.88. The firm has a market cap of $124.12 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.27 and a beta of 0.47. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The firm’s fifty day moving average is $98.93 and its two-hundred day moving average is $108.98.

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

Newmont Announces Dividend

The company 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 $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, September 3rd. Newmont’s dividend payout ratio (DPR) is 13.13%.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $93.45, for a total value of $280,350.00. Following the transaction, the executive vice president owned 40,315 shares in the company, valued at $3,767,436.75. The trade was a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the transaction, the chief financial officer owned 29,324 shares of the company’s stock, valued at approximately $3,081,659.16. This represents a 28.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 32,091 shares of company stock worth $3,292,513 over the last three months. Insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in Newmont by 15.7% during the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after acquiring an additional 1,847 shares during the last quarter. Woodline Partners LP increased its holdings in Newmont by 40.7% during the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock worth $4,644,000 after purchasing an additional 27,813 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Newmont in the 2nd quarter worth $240,000. Cerity Partners LLC lifted its position in shares of Newmont by 108.9% during the 2nd quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock worth $7,303,000 after buying an additional 65,342 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Newmont by 8.5% in the 2nd quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock worth $2,854,000 after buying an additional 3,856 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont News Summary

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.

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.