FY2025 Earnings Estimate for Newmont Issued By Scotiabank

Newmont Corporation (NYSE:NEM) – Research analysts at Scotiabank upped their FY2025 EPS estimates for shares of Newmont in a research report issued on Wednesday, September 24th. Scotiabank analyst T. Jakusconek now expects that the basic materials company will post earnings per share of $5.30 for the year, up from their previous estimate of $5.28. Scotiabank has a “Sector Perform” rating and a $72.00 price target on the stock. The consensus estimate for Newmont’s current full-year earnings is $3.45 per share.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The business had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter last year, the firm earned $0.72 EPS. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year.

Other equities analysts have also recently issued research reports about the stock. Raymond James Financial lifted their target price on shares of Newmont from $77.00 to $84.00 and gave the stock an “outperform” rating in a research report on Tuesday. Royal Bank Of Canada raised shares of Newmont from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $66.00 to $95.00 in a research report on Wednesday, September 10th. National Bank Financial raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 25th. UBS Group lifted their target price on shares of Newmont from $70.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Finally, Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 4th. Four investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $73.38.

Newmont Price Performance

Shares of NYSE NEM opened at $85.17 on Friday. Newmont has a fifty-two week low of $36.86 and a fifty-two week high of $86.62. The stock has a market cap of $93.55 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 0.97 and a beta of 0.34. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. The firm’s 50-day simple moving average is $72.02 and its 200 day simple moving average is $59.72.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Thursday, September 4th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.2%. Newmont’s dividend payout ratio (DPR) is 17.95%.

Insider Buying and Selling

In related news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $74.59, for a total value of $154,923.43. Following the completion of the sale, the director owned 38,949 shares of the company’s stock, valued at approximately $2,905,205.91. This trade represents a 5.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the sale, the executive vice president directly owned 58,736 shares in the company, valued at $3,739,133.76. The trade was a 4.86% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,246 shares of company stock valued at $1,253,559. 0.05% of the stock is owned by insiders.

Institutional Investors Weigh In On Newmont

Hedge funds and other institutional investors have recently bought and sold shares of the business. Concord Wealth Partners raised its holdings in Newmont by 534.7% during the 2nd quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 385 shares during the period. Evermay Wealth Management LLC grew its position in shares of Newmont by 408.2% during the 2nd quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 400 shares in the last quarter. Capital A Wealth Management LLC grew its position in shares of Newmont by 1,648.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 478 shares in the last quarter. SOA Wealth Advisors LLC. grew its position in shares of Newmont by 64.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 515 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 201 shares in the last quarter. Finally, Caldwell Trust Co purchased a new position in shares of Newmont during the 2nd quarter valued at $31,000. Institutional investors own 68.85% of the company’s stock.

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.