Newmont Co. (NYSE:NEM) to Post FY2025 Earnings of $2.66 Per Share, Zacks Research Forecasts

Newmont Co. (NYSE:NEM) – Analysts at Zacks Research upped their FY2025 earnings estimates for shares of Newmont in a research report issued to clients and investors on Tuesday, September 12th. Zacks Research analyst A. Barman now expects that the basic materials company will post earnings per share of $2.66 for the year, up from their prior estimate of $2.55. The consensus estimate for Newmont’s current full-year earnings is $2.04 per share.

A number of other equities research analysts have also issued reports on the stock. Raymond James cut their price objective on shares of Newmont from $62.00 to $61.00 and set an “outperform” rating for the company in a report on Thursday, September 7th. Barclays raised shares of Newmont from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $62.00 to $61.00 in a report on Friday, July 7th. Canaccord Genuity Group cut their price objective on shares of Newmont from $63.00 to $57.00 and set a “buy” rating for the company in a report on Monday, July 24th. UBS Group cut their price objective on shares of Newmont from $53.00 to $42.00 and set a “neutral” rating for the company in a report on Tuesday, August 29th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $52.00 target price on shares of Newmont in a report on Wednesday, September 6th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $58.00.

Newmont Trading Up 0.6 %

Shares of NEM opened at $39.51 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.28 and a quick ratio of 1.87. Newmont has a 1 year low of $37.45 and a 1 year high of $60.08. The company has a 50 day simple moving average of $40.80 and a two-hundred day simple moving average of $43.77. The firm has a market cap of $31.40 billion, a P/E ratio of -41.16, a price-to-earnings-growth ratio of 1.58 and a beta of 0.38.

Newmont (NYSE:NEM) last released its earnings results on Thursday, July 20th. The basic materials company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Newmont had a positive return on equity of 5.74% and a negative net margin of 6.77%. The firm had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the previous year, the business posted $0.46 EPS. Newmont’s revenue was down 12.3% on a year-over-year basis.

Institutional Trading of Newmont

Institutional investors and hedge funds have recently made changes to their positions in the company. DAVENPORT & Co LLC raised its holdings in shares of Newmont by 6.4% in the first quarter. DAVENPORT & Co LLC now owns 89,379 shares of the basic materials company’s stock valued at $4,381,000 after acquiring an additional 5,363 shares in the last quarter. MAI Capital Management purchased a new position in Newmont in the fourth quarter valued at about $323,000. Howe & Rusling Inc. grew its stake in Newmont by 15.4% in the first quarter. Howe & Rusling Inc. now owns 75,772 shares of the basic materials company’s stock valued at $3,714,000 after purchasing an additional 10,112 shares during the last quarter. Intrust Bank NA grew its stake in Newmont by 6.4% in the first quarter. Intrust Bank NA now owns 8,127 shares of the basic materials company’s stock valued at $398,000 after purchasing an additional 489 shares during the last quarter. Finally, Equitable Trust Co. grew its stake in Newmont by 6.3% in the fourth quarter. Equitable Trust Co. now owns 8,832 shares of the basic materials company’s stock valued at $417,000 after purchasing an additional 521 shares during the last quarter. 79.53% of the stock is currently owned by institutional investors.

Insider Transactions at Newmont

In other news, CEO Thomas Ronald Palmer sold 11,000 shares of Newmont stock in a transaction on Friday, September 1st. The stock was sold at an average price of $39.91, for a total transaction of $439,010.00. Following the completion of the sale, the chief executive officer now directly owns 256,039 shares in the company, valued at $10,218,516.49. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Thomas Ronald Palmer sold 11,000 shares of Newmont stock in a transaction on Friday, September 1st. The stock was sold at an average price of $39.91, for a total transaction of $439,010.00. Following the completion of the sale, the chief executive officer now directly owns 256,039 shares in the company, valued at $10,218,516.49. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Robert D. Atkinson sold 5,500 shares of Newmont stock in a transaction on Friday, September 1st. The stock was sold at an average price of $39.91, for a total value of $219,505.00. Following the sale, the chief operating officer now owns 76,251 shares of the company’s stock, valued at $3,043,177.41. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,683 shares of company stock worth $1,600,929. 0.07% of the stock is currently owned by insiders.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, September 7th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 6th. This represents a $1.60 annualized dividend and a dividend yield of 4.05%. Newmont’s dividend payout ratio (DPR) is -166.67%.

About Newmont

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, and Ghana. As of December 31, 2022, it had proven and probable gold reserves of 96.1 million ounces and land position of 61,500 square kilometers.