Newmont (NYSE:NEM) Cut to “Hold” at Freedom Broker

Freedom Broker downgraded shares of Newmont (NYSE:NEM) from a buy rating to a hold rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. Freedom Broker currently has $116.00 target price on the basic materials company’s stock, down from their previous target price of $130.00.

A number of other equities analysts have also recently weighed in on NEM. Argus set a $110.00 price target on shares of Newmont and gave the stock a “buy” rating in a research report on Monday, August 3rd. RBC Dominion Securities set a $155.00 price target on shares of Newmont and gave the company an “outperform” rating in a report on Thursday. BNP Paribas Exane lowered their price objective on shares of Newmont from $111.00 to $102.00 and set a “neutral” rating for the company in a research report on Tuesday, July 21st. UBS Group dropped their price objective on Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Finally, Citigroup lifted their target price on Newmont from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and a consensus price target of $137.25.

Newmont Stock Performance

Shares of NEM stock opened at $108.72 on Thursday. The stock has a market cap of $114.55 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 2.02 and a beta of 0.51. The stock has a 50-day moving average of $121.86 and a 200-day moving average of $110.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. Newmont has a one year low of $76.05 and a one year high of $135.29.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.26. The business had revenue of $6.36 billion for the quarter, compared to analyst estimates of $6.27 billion. Newmont had a net margin of 34.73% and a return on equity of 30.02%. Newmont’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.71 EPS. As a group, sell-side analysts expect that Newmont will post 9.07 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Wednesday, November 25th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, November 25th. Newmont’s dividend payout ratio is presently 12.09%.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total value of $344,430.00. Following the transaction, the executive vice president owned 34,315 shares of the company’s stock, valued at approximately $3,939,705.15. The trade was a 8.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the transaction, the chief financial officer owned 29,324 shares of the company’s stock, valued at $3,081,659.16. This trade represents a 28.07% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 35,973 shares of company stock worth $3,927,169. Company insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Newmont

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Newmont in the 2nd quarter valued at about $11,289,753,000. State Street Corp lifted its holdings in shares of Newmont by 3.1% in the second quarter. State Street Corp now owns 52,396,702 shares of the basic materials company’s stock valued at $4,893,852,000 after purchasing an additional 1,565,716 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Newmont by 5.3% in the first quarter. Bank of New York Mellon Corp now owns 12,237,940 shares of the basic materials company’s stock valued at $1,324,757,000 after purchasing an additional 615,461 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Newmont by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 9,359,524 shares of the basic materials company’s stock worth $1,012,792,000 after buying an additional 184,586 shares during the period. Finally, Amundi boosted its position in shares of Newmont by 4.4% during the first quarter. Amundi now owns 8,780,775 shares of the basic materials company’s stock worth $950,519,000 after buying an additional 372,415 shares during the period. 68.85% of the stock is owned by institutional investors.

Trending Headlines about Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont reported third-quarter adjusted EPS of $2.20, above the $1.94 consensus estimate, while revenue rose 15.2% year over year to $6.36 billion, exceeding expectations. Higher gold prices, stronger sales and improved copper output following the Cadia recovery supported results. Newmont beats quarterly profit estimates on higher gold prices
• Positive Sentiment: Operating momentum and cash generation were favorable: third-quarter free cash flow reached approximately $1.9 billion, and management said the company remains positioned to meet its 2026 production guidance. Newmont also declared a quarterly dividend of $0.26 per share. Newmont: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Newmont expects gold production to rebound in 2027, offering a potential future catalyst. RBC Dominion Securities maintained an outperform view and set a $155 price target. RBC Dominion Securities recommendations
• Neutral Sentiment: The company priced the Red Chris block-cave expansion at as much as $4.8 billion, with commercial production targeted for 2033. The project could support long-term growth but adds significant capital requirements and execution risk. Newmont prices Red Chris expansion at up to $4.8B
• Negative Sentiment: Newmont raised its full-year 2026 all-in sustaining cost outlook to approximately $1,520 per ounce. Management also highlighted higher costs, declining silver production and increased capital spending related to Red Chris, tempering the earnings upside. Newmont targets Red Chris production in 2033
• Negative Sentiment: Analyst sentiment was mixed. TD Cowen lowered its price target to $131 from $133, while Freedom Broker downgraded the stock to hold and cut its target to $116. Concerns that Newmont’s strong multiyear rally has already priced in much of its cash-flow potential may be limiting investor enthusiasm. Freedom Broker downgrades Newmont to hold

About Newmont

Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.