National Bank Financial Boosts Newmont (NYSE:NEM) Price Target to $140.00

Newmont (NYSE:NEM) had its target price hoisted by equities researchers at National Bank Financial from $120.00 to $140.00 in a research note issued on Monday. The firm presently has a “sector perform” rating on the basic materials company’s stock. National Bank Financial’s price objective suggests a potential upside of 14.72% from the company’s current price.

NEM has been the topic of a number of other reports. Raymond James Financial reissued an “outperform” rating and issued a $140.00 price objective on shares of Newmont in a report on Monday, August 24th. UBS Group decreased their target price on Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Jefferies Financial Group dropped their target price on Newmont from $158.00 to $146.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Scotiabank raised their price target on shares of Newmont from $147.00 to $149.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Finally, Royal Bank Of Canada lifted their price objective on shares of Newmont from $135.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.78.

Newmont Trading Down 1.2%

NYSE NEM opened at $122.04 on Monday. Newmont has a 12-month low of $76.05 and a 12-month high of $135.29. The company has a fifty day simple moving average of $115.05 and a two-hundred day simple moving average of $109.75. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15. The stock has a market cap of $128.59 billion, a P/E ratio of 15.38, a P/E/G ratio of 1.78 and a beta of 0.52.

Newmont (NYSE:NEM) last released its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, beating 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 return on equity of 29.10% and a net margin of 33.36%.During the same period in the prior year, the firm earned $1.43 EPS. On average, analysts forecast that Newmont will post 9.09 earnings per share for the current year.

Insider Buying and Selling at Newmont

In other news, CEO Natascha Viljoen sold 7,764 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total value of $807,456.00. Following the completion of the sale, the chief executive officer directly owned 135,235 shares in the company, valued at $14,064,440. The trade was a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total value of $1,202,755.05. Following the transaction, the chief financial officer owned 29,324 shares in the company, valued at $3,081,659.16. This trade represents a 28.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 32,091 shares of company stock valued at $3,414,187. Corporate insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Blue Trust Inc. grew its stake in Newmont by 0.6% in the 1st quarter. Blue Trust Inc. now owns 17,194 shares of the basic materials company’s stock valued at $1,861,000 after acquiring an additional 100 shares during the period. Cary Street Partners Investment Advisory LLC grew its position in shares of Newmont by 6.2% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 1,832 shares of the basic materials company’s stock valued at $183,000 after purchasing an additional 107 shares during the period. Accel Wealth Management increased its stake in shares of Newmont by 0.8% during the second quarter. Accel Wealth Management now owns 14,744 shares of the basic materials company’s stock worth $1,377,000 after purchasing an additional 115 shares in the last quarter. Bell Investment Advisors Inc raised its position in shares of Newmont by 41.8% during the 1st quarter. Bell Investment Advisors Inc now owns 397 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 117 shares during the last quarter. Finally, Compound Planning Inc. boosted its holdings in Newmont by 0.6% in the 1st quarter. Compound Planning Inc. now owns 21,192 shares of the basic materials company’s stock worth $2,294,000 after buying an additional 121 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: National Bank Financial raised its price target for Newmont from $120 to $140 while maintaining a “sector perform” rating, indicating potential upside from recent trading levels. National Bank Financial price-target update
• Positive Sentiment: Analysts highlighted Newmont’s record free cash flow, which is supporting organic growth projects and potential additional shareholder returns. The company is also benefiting from project expansions and resilient gold prices. Can Newmont’s Record Free Cash Flow Momentum Carry Into Q3?
• Positive Sentiment: Gold’s rebound, continued central-bank buying and supportive long-term bullion demand remain favorable for large producers such as Newmont. Gold Defied the Fed’s Rate Hike—These 3 Plays Stand Out
• Neutral Sentiment: A comparison with Agnico Eagle portrays both miners as benefiting from rising cash flows and expansion opportunities, but does not identify a new company-specific catalyst for NEM. AEM vs. NEM: Which Gold Mining Giant Should You Invest in Now?
• Negative Sentiment: The main pressure appears macro-driven: a stronger U.S. dollar, hawkish Federal Reserve commentary and concerns that rates may remain elevated pushed gold lower. Because Newmont’s earnings and cash flow are closely tied to bullion prices, weakness in gold can weigh disproportionately on the stock. Newmont shares fall as gold prices weaken and rate worries pressure miners
• Negative Sentiment: Recent insider-trading data showed sales by several executives, including the CEO and CFO, with no reported open-market purchases over the past six months. This may add to investor caution, although it is not evidence of an operational setback.

Newmont Company Profile

Newmont Corporation (NYSE: NEM) is a global mining company primarily focused on the exploration, development and production of gold. The company also produces copper, silver, zinc and lead as byproducts or from polymetallic operations. Its activities include operating mines, developing mineral projects and managing related processing and infrastructure assets.

Founded in 1921, Newmont became one of the first gold companies to be listed on the New York Stock Exchange. The company expanded significantly with its acquisition of Newcrest Mining, completed in 2023, which added major assets in Australia, Canada and Papua New Guinea to its portfolio.