Research Analysts Offer Predictions for Newmont Q4 Earnings

Newmont Co. (NYSE:NEM - Free Report) - Investment analysts at National Bank Financial issued their Q4 2024 earnings per share (EPS) estimates for shares of Newmont in a research note issued on Monday, February 10th. National Bank Financial analyst M. Parkin forecasts that the basic materials company will post earnings per share of $1.35 for the quarter. The consensus estimate for Newmont's current full-year earnings is $3.09 per share. National Bank Financial also issued estimates for Newmont's FY2025 earnings at $4.48 EPS.

NEM has been the subject of a number of other research reports. Scotiabank dropped their target price on Newmont from $52.00 to $50.00 and set a "sector perform" rating for the company in a report on Tuesday, January 21st. UBS Group cut Newmont from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. Royal Bank of Canada lifted their target price on Newmont from $47.00 to $52.00 and gave the stock a "sector perform" rating in a report on Tuesday. The Goldman Sachs Group initiated coverage on Newmont in a report on Monday, January 13th. They issued a "buy" rating and a $47.20 target price for the company. Finally, CIBC lowered Newmont from a "sector outperform" rating to a "neutral" rating in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Newmont presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.37.

Newmont Trading Down 2.4 %

Shares of Newmont stock traded down $1.14 on Thursday, reaching $46.61. The company had a trading volume of 9,887,660 shares, compared to its average volume of 9,075,819. The firm has a market cap of $53.06 billion, a price-to-earnings ratio of -30.66, a P/E/G ratio of 0.38 and a beta of 0.52. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The firm's 50-day moving average price is $40.90 and its two-hundred day moving average price is $46.51. Newmont has a 1 year low of $29.42 and a 1 year high of $58.72.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NEM. Norges Bank bought a new position in shares of Newmont in the 4th quarter worth $626,074,000. Capital Research Global Investors grew its stake in Newmont by 70.7% during the 4th quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company's stock worth $210,105,000 after buying an additional 2,338,953 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Newmont during the 4th quarter worth $76,281,000. Invesco Ltd. grew its stake in Newmont by 23.9% during the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company's stock worth $391,568,000 after buying an additional 2,028,150 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new position in Newmont during the 3rd quarter worth $98,011,000. 68.85% of the stock is owned by institutional investors.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,596 shares of the company's stock, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Harry M. Iv Conger purchased 9,498 shares of Newmont stock in a transaction dated Wednesday, November 27th. The stock was bought at an average cost of $42.15 per share, with a total value of $400,340.70. Following the completion of the transaction, the director now owns 14,498 shares in the company, valued at approximately $611,090.70. This represents a 189.96 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 28,154 shares of company stock valued at $1,166,843 in the last ninety days. Corporate insiders own 0.06% 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.