Newmont (NYSE:NEM) Price Target Lowered to $118.00 at TD Securities

Newmont (NYSE:NEM) had its price target cut by TD Securities from $120.00 to $118.00 in a report issued on Tuesday,BayStreet.CA reports. They currently have a hold rating on the basic materials company’s stock.

NEM has been the subject of a number of other reports. Royal Bank Of Canada increased their target price on Newmont from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. TD Cowen upped their price target on shares of Newmont from $89.00 to $120.00 and gave the company a “hold” rating in a report on Thursday, January 22nd. Bank of America increased their price objective on shares of Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Weiss Ratings restated a “buy (b-)” rating on shares of Newmont in a report on Monday, December 29th. Finally, Macquarie Infrastructure upped their target price on shares of Newmont from $115.00 to $126.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $133.68.

Newmont Stock Performance

Shares of Newmont stock opened at $118.45 on Tuesday. The company has a market capitalization of $128.86 billion, a PE ratio of 18.54, a PEG ratio of 1.08 and a beta of 0.39. Newmont has a 12 month low of $41.93 and a 12 month high of $134.88. The company has a current ratio of 2.29, a quick ratio of 2.02 and a debt-to-equity ratio of 0.16. The stock’s fifty day simple moving average is $116.52 and its 200 day simple moving average is $96.11.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.71. Newmont had a return on equity of 23.28% and a net margin of 31.25%.The firm had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.18 billion. During the same period in the previous year, the firm earned $1.40 earnings per share. The company’s revenue was up 20.6% on a year-over-year basis. On average, research analysts predict that Newmont will post 3.45 EPS for the current year.

Newmont Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 3rd will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, March 3rd. This is an increase from Newmont’s previous quarterly dividend of $0.25. Newmont’s dividend payout ratio (DPR) is presently 15.65%.

Hedge Funds Weigh In On Newmont

Hedge funds have recently modified their holdings of the stock. Brighton Jones LLC grew its stake in Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after purchasing an additional 1,847 shares in the last quarter. Woodline Partners LP boosted its holdings in shares of Newmont by 40.7% in the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock valued at $4,644,000 after buying an additional 27,813 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Newmont in the 2nd quarter valued at approximately $240,000. Envestnet Asset Management Inc. grew its stake in shares of Newmont by 176.4% in the second quarter. Envestnet Asset Management Inc. now owns 447,960 shares of the basic materials company’s stock valued at $26,098,000 after buying an additional 285,897 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its holdings in Newmont by 2,417.2% during the second quarter. Hantz Financial Services Inc. now owns 2,190 shares of the basic materials company’s stock worth $128,000 after buying an additional 2,103 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Key Stories Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Strong fundamentals: Newmont reported a large Q4 beat, record free cash flow and raised shareholder returns (dividend increase), which underpins longer-term investor support. Markets Seek Shelter as Gold Shines Brightest
• Positive Sentiment: Bullish analyst action: Citigroup bumped its price target to $150 and kept a “buy” stance, adding a material upside scenario for the stock. Citigroup Raises PT to $150
• Positive Sentiment: Upgrade tailwind: Sanford C. Bernstein recently upgraded Newmont, supporting investor demand from momentum and institutional buyers. Newmont Upgraded at Sanford C. Bernstein
• Positive Sentiment: Options activity: Unusually heavy call buying suggests some traders were positioned for further upside ahead of today’s moves (can amplify volatility). (No article link)
• Neutral Sentiment: Small analyst trim: TD Securities trimmed its target slightly to $118 with a “hold” rating — a modest change that by itself is unlikely to cause a large move but adds to mixed signals. BayStreet.CA
• Negative Sentiment: Gold pullback / sector profit-taking: Reports point to a retreat in bullion that triggered broad selling across gold miners and forced short-term profit-taking after a recent rally — the most direct driver of today’s decline. Newmont slides as gold pulls back
• Negative Sentiment: Headline coverage of the drop: Market commentary (including The Motley Fool) highlights the sharp, short-term selling and frames the move as tied to shifting risk sentiment rather than company deterioration. Why Newmont Corporation Stock Just Dropped
• Negative Sentiment: Conflicting analyst views & institutional flows: Alongside upgrades, some firms (e.g., CIBC) have cut targets sharply and Quiver’s data shows sizeable institutional rebalancing and insider selling that can exacerbate downside on a weak metals tape. CIBC Cuts Newmont Price Target

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.