Scotiabank Has Bullish Outlook for Newmont FY2025 Earnings

Newmont Corporation (NYSE:NEM) – Investment analysts at Scotiabank upped their FY2025 earnings per share (EPS) estimates for shares of Newmont in a note issued to investors on Friday, January 30th. Scotiabank analyst T. Jakusconek now expects that the basic materials company will earn $6.41 per share for the year, up from their prior estimate of $6.12. Scotiabank currently has a “Outperform” rating and a $152.00 target price on the stock. The consensus estimate for Newmont’s current full-year earnings is $3.45 per share.

A number of other research analysts have also issued reports on NEM. Raymond James Financial raised their target price on shares of Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, January 15th. TD Cowen raised their price target on Newmont from $89.00 to $120.00 and gave the company a “hold” rating in a research report on Thursday, January 22nd. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. DZ Bank upgraded Newmont to a “strong-buy” rating in a research note on Monday, January 19th. Finally, Bank of America lifted their price target on Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Six equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Newmont presently has a consensus rating of “Buy” and an average price target of $112.38.

Newmont Stock Up 3.9%

Shares of Newmont stock opened at $117.24 on Monday. Newmont has a 12-month low of $41.23 and a 12-month high of $134.88. The stock has a market capitalization of $127.94 billion, a P/E ratio of 18.21, a PEG ratio of 0.86 and a beta of 0.40. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average price of $105.67 and a two-hundred day moving average price of $88.07.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $92.36, for a total transaction of $192,108.80. Following the completion of the transaction, the director owned 32,709 shares in the company, valued at $3,021,003.24. This trade represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.05% of the stock is owned by company insiders.

Hedge Funds Weigh In On Newmont

Hedge funds have recently modified their holdings of the stock. GoalVest Advisory LLC bought a new position in shares of Newmont during the fourth quarter valued at $25,000. Physician Wealth Advisors Inc. grew its stake in Newmont by 327.8% during the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after buying an additional 236 shares during the last quarter. Concord Wealth Partners increased its holdings in shares of Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock worth $27,000 after buying an additional 385 shares in the last quarter. Cornerstone Planning Group LLC raised its stake in shares of Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 206 shares during the last quarter. Finally, JPL Wealth Management LLC acquired a new position in shares of Newmont in the 3rd quarter worth approximately $27,000. 68.85% of the stock is owned by institutional investors and hedge funds.

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.