Newmont FY2025 EPS Estimate Cut by National Bank Financial

Newmont Corporation (NYSE:NEM) – Equities researchers at National Bank Financial reduced their FY2025 earnings estimates for Newmont in a research report issued on Tuesday, September 23rd. National Bank Financial analyst S. Nagle now expects that the basic materials company will post earnings per share of $5.97 for the year, down from their prior estimate of $6.05. National Bank Financial currently has a “Strong-Buy” rating on the stock. The consensus estimate for Newmont’s current full-year earnings is $3.45 per share.

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

NEM has been the topic of a number of other research reports. Macquarie cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Stifel Canada upgraded shares of Newmont to a “strong-buy” rating in a report on Tuesday, July 8th. The Goldman Sachs Group increased their price target on shares of Newmont from $63.10 to $77.30 and gave the company a “neutral” rating in a report on Thursday, September 11th. BNP Paribas cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th. Finally, Scotiabank increased their price target on shares of Newmont from $69.00 to $72.00 and gave the company a “sector perform” rating in a report on Monday, July 28th. Four research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and an average price target of $73.38.

Newmont Trading Up 1.8%

NYSE:NEM opened at $85.17 on Friday. The company’s 50 day moving average price is $72.02 and its 200-day moving average price is $59.72. Newmont has a 52 week low of $36.86 and a 52 week high of $86.62. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23. 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.

Newmont Dividend Announcement

The business also recently announced 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 is Thursday, September 4th. This represents a $1.00 annualized dividend and a yield of 1.2%. Newmont’s dividend payout ratio (DPR) is currently 17.95%.

Insider Buying and Selling

In other news, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the transaction, the chief accounting officer owned 32,615 shares in the company, valued at $2,218,472.30. This trade represents a 17.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $74.59, for a total transaction of $154,923.43. Following the transaction, the director owned 38,949 shares in the company, valued at $2,905,205.91. This represents a 5.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,246 shares of company stock worth $1,253,559. 0.05% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its stake in shares of Newmont by 8.9% during the 1st quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company’s stock worth $773,159,000 after acquiring an additional 1,306,783 shares during the last quarter. Norges Bank bought a new stake in shares of Newmont during the 2nd quarter valued at $919,170,000. Invesco Ltd. raised its position in shares of Newmont by 45.0% during the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock valued at $908,152,000 after purchasing an additional 4,839,447 shares during the period. Northern Trust Corp raised its position in shares of Newmont by 1.5% during the 1st quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company’s stock valued at $624,458,000 after purchasing an additional 191,940 shares during the period. Finally, Amundi increased its holdings in Newmont by 2.8% in the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company’s stock valued at $611,187,000 after acquiring an additional 343,535 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

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, Papua New Guinea, Ecuador, Fiji, and Ghana.