What is Scotiabank’s Estimate for Newmont FY2027 Earnings?

Newmont Corporation (NYSE:NEM) – Investment analysts at Scotiabank dropped their FY2027 earnings per share estimates for Newmont in a research note issued to investors on Wednesday, August 19th. Scotiabank analyst T. Jakusconek now anticipates that the basic materials company will earn $9.14 per share for the year, down from their previous forecast of $9.21. Scotiabank has a “Outperform” rating and a $149.00 price objective on the stock. The consensus estimate for Newmont’s current full-year earnings is $9.01 per share.

NEM has been the topic of a number of other research reports. Canadian Imperial Bank of Commerce set a $170.00 target price on shares of Newmont in a research report on Friday, August 14th. National Bank Financial cut their price target on shares of Newmont from $140.00 to $125.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Wall Street Zen cut Newmont from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. BMO Capital Markets decreased their price objective on Newmont from $145.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, June 23rd. Finally, TD boosted their target price on Newmont from $127.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Two investment 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $132.73.

Newmont Price Performance

Shares of Newmont stock opened at $131.84 on Monday. Newmont has a 52-week low of $70.88 and a 52-week high of $134.88. The stock has a market capitalization of $138.92 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 1.36 and a beta of 0.47. The company has a fifty day moving average of $102.12 and a 200-day moving average of $109.03. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55.

Newmont (NYSE:NEM) last posted its quarterly 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 firm posted $1.43 earnings per share.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEM. California State Teachers Retirement System boosted its holdings in Newmont by 9,010.9% in the second quarter. California State Teachers Retirement System now owns 155,311,124 shares of the basic materials company’s stock worth $14,506,059,000 after acquiring an additional 153,606,457 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Newmont in the second quarter worth $11,289,753,000. Van ECK Associates Corp bought a new position in shares of Newmont during the second quarter valued at $671,197,000. Norges Bank bought a new position in shares of Newmont during the fourth quarter valued at $1,443,128,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Newmont in the 2nd quarter worth about $1,219,505,000. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In related news, CEO Natascha Viljoen sold 7,764 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total transaction of $807,456.00. Following the sale, the chief executive officer owned 135,235 shares of the company’s stock, valued at $14,064,440. The trade was a 5.43% 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 dated 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 completion of the sale, the chief financial officer owned 29,324 shares in the company, valued at approximately $3,081,659.16. This trade represents a 28.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 32,091 shares of company stock valued at $3,292,513 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, September 3rd. Newmont’s dividend payout ratio (DPR) is 13.13%.

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.