Newmont Corporation (NYSE:NEM – Get Free Report)’s stock price traded up 2.2% on Monday . The stock traded as high as $100.61 and last traded at $97.9440. 17,733,896 shares were traded during trading, an increase of 64% from the average session volume of 10,799,077 shares. The stock had previously closed at $95.80.
Key Headlines Impacting Newmont
Here are the key news stories impacting Newmont this week:
- Positive Sentiment: Zacks highlights Newmont as a basic-materials name with positive earnings momentum, which can attract buyers expecting further upside from earnings surprises. Looking for Stocks with Positive Earnings Momentum? Check Out These 2 Basic Materials Names
- Neutral Sentiment: Zacks reports heightened investor searches/attention on Newmont, which may boost short-term trading interest and liquidity but is not a direct fundamental catalyst. Investors Heavily Search Newmont Corporation (NEM): Here is What You Need to Know
- Neutral Sentiment: Newmont updated its ASX CDI dividend notice with currency exchange details — a routine but positive disclosure for international CDI holders that maintains dividend clarity. Newmont Updates ASX CDI Dividend Notice With Currency Exchange Details
- Neutral Sentiment: Company executive Peter Toth disclosed share sales under a pre-planned trading plan — typical compliance activity that investors often view as neutral when properly pre-scheduled. Newmont Executive Peter Toth Sells Shares Under Pre-Planned Trading Plan
- Negative Sentiment: Barron’s warns that plunging gold prices have erased YTD gains and are pressuring miners, a direct negative for Newmont’s revenue outlook and sentiment. Newmont, Freeport Stocks Drop. Diving Gold Prices Will Continue to Smash Miners.
- Negative Sentiment: AmericanBankingNews reports a recent EVP sale of $324,000 in Newmont stock — insider selling can weigh on sentiment unless clearly routine. Newmont (NYSE:NEM) EVP Sells $324,000.00 in Stock
- Negative Sentiment: Scotiabank cut its price target on Newmont to $151, signaling more conservative near-term expectations from at least one sell-side analyst. Scotiabank Cuts Newmont (NYSE:NEM) Price Target to $151.00
- Negative Sentiment: Macro notes (higher oil driving inflation and rate concerns) and an analyst downgrade have recently pressured shares, contributing to a pullback in the sector. Here’s Why High Oil Prices Are Hurting Precious Metals Mining Stocks
- Negative Sentiment: Market reports note shares fell ~3.5% after an analyst downgrade, underscoring sensitivity to sell-side views and commodity moves. Newmont (NYSE:NEM) Shares Down 3.5% After Analyst Downgrade
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the stock. Canadian Imperial Bank of Commerce reduced their price target on shares of Newmont from $71.00 to $67.00 in a research report on Friday, February 27th. Jefferies Financial Group upped their price objective on shares of Newmont from $158.00 to $162.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. UBS Group cut their target price on shares of Newmont from $160.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. TD Cowen lifted their target price on shares of Newmont from $89.00 to $120.00 and gave the company a “hold” rating in a research note on Thursday, January 22nd. Finally, Zacks Research upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 5th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $134.10.
Newmont Trading Up 2.2%
The company has a 50 day moving average of $118.43 and a 200 day moving average of $99.73. The firm has a market cap of $106.55 billion, a P/E ratio of 15.33, a PEG ratio of 0.74 and a beta of 0.39. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.02 and a current ratio of 2.29.
Newmont (NYSE:NEM – Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The basic materials company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.71. The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.18 billion. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The company’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.40 earnings per share. Analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.
Newmont Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Tuesday, March 3rd will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, March 3rd. This is a boost from Newmont’s previous quarterly dividend of $0.25. Newmont’s dividend payout ratio (DPR) is presently 16.28%.
Insiders Place Their Bets
In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $108.00, for a total transaction of $324,000.00. Following the transaction, the executive vice president directly owned 55,315 shares of the company’s stock, valued at $5,974,020. This represents a 5.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David James Fry sold 18,394 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the transaction, the insider owned 17,147 shares in the company, valued at approximately $1,911,033.15. This trade represents a 51.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.05% of the company’s stock.
Institutional Investors Weigh In On Newmont
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Newmont in the second quarter worth $919,170,000. Van ECK Associates Corp grew its stake in Newmont by 23.4% in the 4th quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock valued at $2,973,539,000 after buying an additional 5,643,496 shares during the last quarter. Invesco Ltd. raised its holdings in Newmont by 45.0% in the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock worth $908,152,000 after acquiring an additional 4,839,447 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Newmont by 110.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,743,228 shares of the basic materials company’s stock worth $873,011,000 after acquiring an additional 4,588,018 shares during the period. Finally, Boston Partners lifted its position in Newmont by 4,090.7% during the 2nd quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock worth $272,558,000 after acquiring an additional 4,532,263 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.
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.
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