Canaccord Genuity Group Raises Newmont (NYSE:NEM) Price Target to $150.00

Newmont (NYSE:NEM) had its price target boosted by stock analysts at Canaccord Genuity Group from $140.00 to $150.00 in a research report issued on Friday,MarketScreener reports. The firm currently has a “buy” rating on the basic materials company’s stock. Canaccord Genuity Group’s price target suggests a potential upside of 28.76% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Raymond James Financial lifted their price objective on Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, January 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Newmont in a report on Monday, December 29th. TD Cowen lifted their target price on Newmont from $89.00 to $120.00 and gave the company a “hold” rating in a report on Thursday, January 22nd. National Bank Financial set a $130.00 target price on Newmont and gave the company a “sector perform” rating in a report on Thursday. Finally, Stifel Nicolaus lifted their target price on Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $133.91.

Newmont Price Performance

Shares of NYSE:NEM opened at $116.50 on Friday. The company has a market cap of $125.81 billion, a P/E ratio of 18.23, a P/E/G ratio of 0.87 and a beta of 0.46. The company has a quick ratio of 2.02, a current ratio of 2.29 and a debt-to-equity ratio of 0.16. Newmont has a 52 week low of $48.27 and a 52 week high of $134.88. The business has a fifty day simple moving average of $115.51 and a 200-day simple moving average of $103.86.

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

Insiders Place Their Bets

In related news, insider David James Fry sold 18,394 shares of Newmont stock in a transaction on Monday, March 16th. The stock was sold at an average price of $111.45, for a total value of $2,050,011.30. Following the transaction, the insider owned 17,147 shares in the company, valued at approximately $1,911,033.15. This trade represents a 51.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $113.09, for a total value of $339,270.00. Following the completion of the transaction, the executive vice president owned 52,315 shares in the company, valued at $5,916,303.35. The trade was a 5.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 24,394 shares of company stock worth $2,713,281 in the last quarter. 0.06% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Apella Capital LLC lifted its stake in shares of Newmont by 4.1% during the fourth quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock worth $219,000 after purchasing an additional 86 shares in the last quarter. New Wave Wealth Advisors LLC lifted its stake in shares of Newmont by 1.3% during the fourth quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock worth $684,000 after purchasing an additional 88 shares in the last quarter. Novem Group lifted its stake in shares of Newmont by 3.7% during the fourth quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock worth $248,000 after purchasing an additional 88 shares in the last quarter. Norden Group LLC lifted its stake in shares of Newmont by 0.7% during the fourth quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock worth $1,235,000 after purchasing an additional 90 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Newmont by 1.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock worth $714,000 after purchasing an additional 96 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Canaccord Genuity raised its price target to $150 and reiterated a “buy” rating — a bullish analyst signal that implies meaningful upside and can attract buyers. Canaccord Genuity adjusts price target on Newmont to $150 from $140; maintains buy rating
• Positive Sentiment: Newmont reported that Cadia mine output was unaffected after the New South Wales earthquake — operational continuity at a major asset reduces near-term production risk. Newmont says Cadia output unaffected after New South Wales earthquake
• Positive Sentiment: Zacks highlighted NEM as a top-ranked growth stock under its style scores, which can boost interest from style-focused funds and momentum buyers. Newmont Corporation (NEM) is a Top-Ranked Growth Stock: Should You Buy?
• Positive Sentiment: InsiderMonkey included Newmont among top long-term ASX picks, offering additional retail/international endorsement of NEM as a long-duration holding. 5 Best Long-Term ASX Stocks to Buy Right Now
• Neutral Sentiment: Newmont flagged an online update regarding the earthquake impact at Cadia — transparency helps sentiment but is informational unless new damage is reported. Newmont flags online update on earthquake impact at Cadia mine
• Neutral Sentiment: Coverage discussing the Persian Gulf shock underscores Newmont’s sensitivity to gold-price swings and macro volatility — a reminder that geopolitics can quickly affect earnings expectations. Does Persian Gulf Shock Expose a Deeper Volatility Challenge in Newmont’s Gold Model (NEM)?
• Negative Sentiment: National Bank Financial downgraded NEM from “outperform” to “hold” and trimmed its price target to $130 — a moderation in conviction that can weigh on momentum. BayStreet Analyst Ratings (National Bank Financial downgrade)
• Negative Sentiment: A critical piece highlighted rising costs and an analyst downgrade narrative — persistent cost pressures could compress margins and cap valuation multiples. Newmont Downgraded as Costs Surge: Is This Gold Giant Losing Its Shine at the Worst Possible Time?

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.