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

Newmont (NYSE:NEM) had its price target lifted by Raymond James from $54.00 to $63.00 in a report published on Friday,Benzinga reports. Raymond James currently has an outperform rating on the basic materials company’s stock. 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.

A number of other brokerages also recently weighed in on NEM. National Bank Financial upgraded shares of Newmont to a “hold” rating in a research report on Friday, March 21st. TD Securities dropped their price target on Newmont from $46.00 to $45.00 and set a “hold” rating on the stock in a research note on Wednesday, February 26th. The Goldman Sachs Group assumed coverage on Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective for the company. Royal Bank of Canada raised their target price on Newmont from $51.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.09.

Newmont Stock Performance

Shares of NEM opened at $44.25 on Friday. Newmont has a 12 month low of $36.60 and a 12 month high of $58.72. The business’s fifty day simple moving average is $45.34 and its two-hundred day simple moving average is $45.33. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The company has a market cap of $49.88 billion, a price-to-earnings ratio of 15.10, a P/E/G ratio of 0.41 and a beta of 0.54.

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

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were paid a $0.25 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.26%. Newmont’s payout ratio is presently 34.13%.

Insider Activity

In related news, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the transaction, the director now directly owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. This trade represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Natascha Viljoen sold 9,000 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $360,000.00. Following the completion of the sale, the chief operating officer now owns 145,967 shares in the company, valued at approximately $5,838,680. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,231 shares of company stock worth $1,388,758 over the last ninety days. Corporate insiders own 0.05% of the company’s stock.

Institutional Investors Weigh In On Newmont

Large investors have recently made changes to their positions in the company. Norges Bank bought a new stake in Newmont in the 4th quarter worth approximately $626,074,000. Voloridge Investment Management LLC purchased a new position in shares of Newmont in the fourth quarter valued at $92,693,000. Capital Research Global Investors increased its position in Newmont by 70.7% in the fourth quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company’s stock worth $210,105,000 after purchasing an additional 2,338,953 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Newmont during the fourth quarter valued at $76,281,000. Finally, Invesco Ltd. lifted its position in Newmont by 23.9% during the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company’s stock valued at $391,568,000 after purchasing an additional 2,028,150 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Company Profile

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.