Citigroup Issues Positive Forecast for Newmont (NYSE:NEM) Stock Price

Newmont (NYSE:NEM) had its price objective lifted by Citigroup from $118.00 to $150.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the basic materials company’s stock.

A number of other analysts have also recently weighed in on NEM. Canaccord Genuity Group increased their price objective on shares of Newmont from $115.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Royal Bank Of Canada lifted their price target on Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. BMO Capital Markets reduced their price objective on Newmont from $145.00 to $140.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. Finally, Macquarie Infrastructure raised their target price on Newmont from $115.00 to $126.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.68.

Newmont Stock Down 8.0%

NYSE:NEM opened at $118.45 on Tuesday. 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 has a 50 day moving average of $116.52 and a 200-day moving average of $96.11. The firm has a market capitalization of $128.86 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 1.08 and a beta of 0.39. Newmont has a 52 week low of $41.93 and a 52 week high of $134.88.

Newmont (NYSE:NEM) last released its quarterly earnings data 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 business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.18 billion. During the same quarter in the previous year, the firm posted $1.40 EPS. The business’s revenue for the quarter was up 20.6% compared to the same quarter last year. Analysts predict that Newmont will post 3.45 EPS for the current year.

Newmont Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 3rd will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, March 3rd. This is a boost from Newmont’s previous quarterly dividend of $0.25. Newmont’s dividend payout ratio is presently 15.65%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NEM. Estate Counselors LLC bought a new stake in Newmont in the third quarter worth approximately $4,182,000. AustralianSuper Pty Ltd boosted its holdings in Newmont by 124.8% in the third quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock worth $27,843,000 after purchasing an additional 183,360 shares in the last quarter. Knights of Columbus Asset Advisors LLC increased its position in Newmont by 286.5% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company’s stock worth $5,101,000 after buying an additional 44,846 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Newmont by 176.4% during 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, Robeco Institutional Asset Management B.V. lifted its position in shares of Newmont by 172.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock worth $362,888,000 after buying an additional 2,723,044 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont News Roundup

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.