Q4 2024 EPS Estimates for Newmont Co. (NYSE:NEM) Raised by Raymond James

Newmont Co. (NYSE:NEM - Free Report) - Stock analysts at Raymond James lifted their Q4 2024 earnings estimates for Newmont in a research report issued on Tuesday, October 8th. Raymond James analyst B. Macarthur now forecasts that the basic materials company will post earnings per share of $0.98 for the quarter, up from their previous forecast of $0.96. The consensus estimate for Newmont's current full-year earnings is $2.88 per share.

NEM has been the subject of several other reports. Bank of America lifted their target price on shares of Newmont from $49.00 to $50.00 and gave the company a "buy" rating in a report on Wednesday, June 26th. CIBC raised shares of Newmont from a "neutral" rating to a "sector outperform" rating and raised their price target for the company from $46.00 to $61.00 in a research report on Wednesday, July 10th. BMO Capital Markets raised their price target on shares of Newmont from $56.00 to $57.00 and gave the company an "outperform" rating in a research report on Thursday, July 25th. Jefferies Financial Group raised their price target on shares of Newmont from $54.00 to $63.00 and gave the company a "buy" rating in a research report on Friday, October 4th. Finally, Cibc World Mkts raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $53.31.

Newmont Stock Up 1.3 %

Shares of NEM stock traded up $0.67 during trading hours on Thursday, hitting $53.40. 6,423,501 shares of the company's stock traded hands, compared to its average volume of 10,275,062. The stock's fifty day simple moving average is $51.80 and its two-hundred day simple moving average is $45.35. Newmont has a 12-month low of $29.42 and a 12-month high of $56.30. The stock has a market cap of $61.58 billion, a price-to-earnings ratio of -19.75, a PEG ratio of 0.47 and a beta of 0.50. The company has a quick ratio of 1.85, a current ratio of 2.11 and a debt-to-equity ratio of 0.31.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Wednesday, July 24th. The basic materials company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.10. Newmont had a negative net margin of 13.16% and a positive return on equity of 8.35%. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same period last year, the business earned $0.33 earnings per share. The business's revenue was up 64.1% on a year-over-year basis.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 5th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Thursday, September 5th. Newmont's dividend payout ratio is presently -37.45%.

Insider Transactions at Newmont

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total transaction of $990,200.00. Following the transaction, the chief executive officer now owns 311,469 shares in the company, valued at $15,420,830.19. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $49.51, for a total transaction of $990,200.00. Following the transaction, the chief executive officer now owns 311,469 shares in the company, valued at approximately $15,420,830.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the transaction, the executive vice president now owns 91,596 shares in the company, valued at approximately $4,928,780.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,000 shares of company stock worth $3,434,640 in the last 90 days. 0.06% of the stock is currently owned by insiders.

Institutional Trading of Newmont

Hedge funds have recently bought and sold shares of the stock. LRI Investments LLC purchased a new stake in Newmont in the 1st quarter worth $25,000. Strategic Financial Concepts LLC purchased a new stake in Newmont in the 2nd quarter worth $25,000. Meeder Asset Management Inc. purchased a new stake in Newmont in the 2nd quarter worth $27,000. Hoese & Co LLP purchased a new stake in Newmont in the 3rd quarter worth $27,000. Finally, Heritage Wealth Advisors lifted its stake in Newmont by 1,310.4% in the 1st quarter. Heritage Wealth Advisors now owns 945 shares of the basic materials company's stock worth $34,000 after purchasing an additional 878 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Company Profile

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.