Newmont (NYSE:NEM) Given New $63.00 Price Target at Raymond James

Newmont (NYSE:NEM - Free Report) had its price objective increased by Raymond James from $54.00 to $63.00 in a report released on Friday morning,Benzinga reports. They currently have an outperform rating on the basic materials company's stock. Raymond James also issued estimates for Newmont's Q1 2025 earnings at $0.81 EPS, Q1 2025 earnings at $0.81 EPS, Q2 2025 earnings at $0.56 EPS, Q2 2025 earnings at $0.56 EPS, Q3 2025 earnings at $0.59 EPS, Q4 2025 earnings at $0.69 EPS, Q4 2025 earnings at $0.69 EPS, FY2025 earnings at $2.65 EPS and FY2025 earnings at $2.65 EPS.

Other equities analysts have also issued reports about the stock. TD Securities cut their target price on shares of Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a report on Wednesday, February 26th. The Goldman Sachs Group initiated coverage on shares of Newmont in a research report on Monday, January 13th. They issued a "buy" rating and a $47.20 price objective for the company. National Bank Financial raised Newmont to a "hold" rating in a report on Friday, March 21st. StockNews.com upgraded Newmont from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. Finally, Scotiabank decreased their target price on Newmont from $52.00 to $50.00 and set a "sector perform" rating on the stock in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Newmont currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.09.

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Newmont Stock Performance

NYSE NEM traded down $4.08 on Friday, reaching $44.25. 21,146,797 shares of the company's stock traded hands, compared to its average volume of 9,653,406. Newmont has a fifty-two week low of $36.60 and a fifty-two week high of $58.72. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The firm has a market cap of $49.88 billion, a price-to-earnings ratio of 15.10, a P/E/G ratio of 0.41 and a beta of 0.54. The stock has a 50 day moving average price of $45.34 and a 200-day moving average price of $45.28.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.29. The business had revenue of $5.65 billion during the quarter, compared to analysts' expectations of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. Equities research analysts predict that Newmont will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were issued a $0.25 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.26%. Newmont's payout ratio is 34.13%.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the completion of the sale, the director now owns 52,070 shares in the company, valued at $2,082,800. This trade represents a 3.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction that occurred on Friday, January 10th. The shares were 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 owns 82,596 shares in the company, valued at $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,231 shares of company stock worth $1,388,758 in the last ninety days. Insiders own 0.05% of the company's stock.

Institutional Investors Weigh In On Newmont

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp raised its holdings in Newmont by 1.6% in the 4th quarter. Van ECK Associates Corp now owns 49,747,598 shares of the basic materials company's stock valued at $1,851,606,000 after buying an additional 797,445 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Newmont by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 24,697,779 shares of the basic materials company's stock worth $919,484,000 after acquiring an additional 1,213,397 shares during the last quarter. Norges Bank purchased a new position in shares of Newmont during the 4th quarter worth approximately $626,074,000. Northern Trust Corp raised its position in Newmont by 11.5% in the fourth quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company's stock valued at $474,263,000 after purchasing an additional 1,309,177 shares during the period. Finally, Amundi boosted its position in shares of Newmont by 14.0% during the fourth quarter. Amundi now owns 12,302,579 shares of the basic materials company's stock worth $481,400,000 after buying an additional 1,507,708 shares during the period. 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.