Newmont (NYSE:NEM) Stock Gets Price Target Reduction from TD Cowen

Newmont (NYSE:NEM) had its target price trimmed by TD Cowen from $133.00 to $131.00 in a research report report published on Tuesday morning.

NEM has been the topic of a number of other reports. TD boosted their target price on shares of Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. BNP Paribas Exane reduced their target price on Newmont from $111.00 to $102.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Royal Bank Of Canada boosted their price target on Newmont from $135.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. Weiss Ratings upgraded Newmont from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 16th. Finally, Bank of America lowered their price objective on Newmont from $157.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $137.25.

Newmont Trading Down 3.6%

NEM stock traded down $4.11 during midday trading on Tuesday, hitting $110.00. 3,801,012 shares of the company’s stock were exchanged, compared to its average volume of 8,502,421. Newmont has a one year low of $76.05 and a one year high of $135.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The company has a market cap of $115.90 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 2.17 and a beta of 0.51. The stock’s fifty day moving average price is $122.05 and its 200-day moving average price is $111.00.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.26. Newmont had a return on equity of 29.10% and a net margin of 33.36%. The business had revenue of $6.36 billion during the quarter, compared to analysts’ expectations of $6.27 billion. During the same period in the prior year, the business earned $1.71 EPS. Newmont’s revenue for the quarter was up 15.2% compared to the same quarter last year. Research analysts predict that Newmont will post 9.04 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Wednesday, November 25th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, November 25th. This represents a $1.04 annualized dividend and a yield of 0.9%. Newmont’s dividend payout ratio is 13.13%.

Insider Buying and Selling at Newmont

In related news, CFO Brian Tabolt sold 11,445 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total value of $1,202,755.05. Following the completion of the sale, the chief financial officer owned 29,324 shares in the company, valued at $3,081,659.16. The trade was a 28.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Natascha Viljoen sold 7,764 shares of the company’s stock in a transaction on 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. This represents a 5.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 35,973 shares of company stock valued at $3,927,169 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Newmont

A number of institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Newmont during the second quarter valued at approximately $36,180,000. Asset One Wealth Management LLC bought a new stake in Newmont during the 2nd quarter valued at $2,866,000. Private Advisory Group LLC purchased a new stake in shares of Newmont during the second quarter worth about $10,430,000. Commerce Bank purchased a new position in Newmont in the 2nd quarter worth $3,418,000. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new stake in shares of Newmont in the third quarter worth $814,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont News Summary

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont reported adjusted earnings of $2.20 per share, above the $1.94 analyst consensus, while revenue rose 15.2% year over year to $6.36 billion. Higher gold prices, stronger gold sales and a recovery at Cadia helped drive the results. Newmont beats quarterly profit estimates on higher gold prices
• Positive Sentiment: Cash generation was strong, with third-quarter free cash flow of approximately $1.9 billion. Investors also received support from the company’s capital-return program, including a quarterly dividend of about $0.26 per share and a large buyback highlighted in recent coverage.
• Positive Sentiment: Management remains on track to achieve its 2026 production guidance and expects gold production to rebound in 2027, providing a potential growth catalyst for NEM. NEM Q3 Earnings Call Highlights
• Neutral Sentiment: Newmont improved its full-year 2026 all-in sustaining cost outlook to approximately $1,520 per ounce, but the figure still reflects elevated operating costs. The company also expects higher capital spending for the Red Chris expansion.
• Negative Sentiment: Red Chris commercial production is now targeted for 2033, making the project a distant payoff and increasing investor focus on execution, funding and interim cost pressures. Silver production is also expected to decline. Newmont targets Red Chris commercial production in 2033
• Negative Sentiment: Analyst sentiment was mixed: RBC raised its target to $155 with an outperform rating, while Freedom Broker maintained a hold rating but cut its target to $116. Other coverage questioned whether NEM is fully valued after its roughly 223% three-year gain, limiting the upside reaction to the earnings beat.

Newmont Company Profile

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.