Newmont (NEM) Stock Forecast & Price Target

$50.31

-1.62 (-3.12%)

(As of 03:54 PM ET)

Newmont - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy
Based on 16 Analyst Ratings

Based on 16 Wall Street analysts who have issued ratings for Newmont in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 16 analysts, 4 have given a hold rating, 10 have given a buy rating, and 2 have given a strong buy rating for NEM.

Consensus Price Target

$51.46
2.29% Upside

High Forecast	$61.00
Average Forecast	$51.46
Low Forecast	$40.00

According to the 16 analysts' twelve-month price targets for Newmont, the average price target is $51.46. The highest price target for NEM is $61.00, while the lowest price target for NEM is $40.00. The average price target represents a forecasted upside of 2.29% from the current price of $50.31.

Type	Current Forecast 9/7/23 to 9/6/24	1 Month Ago 8/8/23 to 8/7/24	3 Months Ago 6/9/23 to 6/8/24	1 Year Ago 9/7/22 to 9/7/23
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Moderate Buy
Strong Buy	2 Strong Buy rating(s)	2 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	10 Buy rating(s)	8 Buy rating(s)	7 Buy rating(s)	10 Buy rating(s)
Hold	4 Hold rating(s)	6 Hold rating(s)	7 Hold rating(s)	3 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$51.46	$50.00	$48.36	$55.59
Forecasted Upside	2.29% Upside	21.45% Upside	22.27% Upside	27.99% Upside

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NEM Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

NEM Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Newmont Stock vs. The Competition

Type	Newmont	Basic Materials Companies	S&P 500
Consensus Rating Score	2.88	2.69	2.51
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy
Predicted Upside	2.07% Upside	191.80% Upside	11.34% Upside
News Sentiment Rating	Positive News	Neutral News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
8/29/2024	Argus 3 of 5 stars	W. Selesky Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Buy	$58.00	+11.90%
8/19/2024	Scotiabank 5 of 5 stars	T. Jakusconek Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Sector Perform ➝ Sector Outperform	$48.00 ➝ $59.00	+17.51%
7/25/2024	BMO Capital Markets 4 of 5 stars		Boost Target	Outperform ➝ Outperform	$56.00 ➝ $57.00	+23.70%
7/12/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$50.00 ➝ $54.00	+13.45%
7/10/2024	Cibc World Mkts Subscribe to MarketBeat All Access for the recommendation accuracy rating	A. Soni Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Strong-Buy
7/10/2024	CIBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Sector Outperform	$46.00 ➝ $61.00	+35.11%
Get the Latest News and Ratings for NEM and Related Stocks Enter your email address below to receive the latest news and analysts' ratings for Newmont and its competitors with MarketBeat's FREE daily newsletter.
7/8/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Overweight ➝ Neutral
6/26/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$49.00 ➝ $50.00	+20.54%
6/21/2024	BNP Paribas Subscribe to MarketBeat All Access for the recommendation accuracy rating	A. Spence Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Strong-Buy
6/17/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	D. Major Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Neutral ➝ Buy	$40.00 ➝ $50.00	+22.49%
5/16/2024	Sanford C. Bernstein Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Market Perform ➝ Market Perform	$46.00 ➝ $45.00	+4.51%
4/30/2024	National Bank Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Parkin Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Outperform Overweight ➝ Sector Perform Overweight
4/26/2024	TD Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold ➝ Hold	$43.00 ➝ $48.00	+12.81%
4/4/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$60.00 ➝ $45.00	+19.36%
2/8/2024	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Sector Perform ➝ Sector Perform	$45.00 ➝ $40.00	+20.19%
11/21/2023	Macquarie Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Outperform	$45.00	+23.09%
10/27/2023	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform	$59.00 ➝ $57.00	+48.05%
7/24/2023	Canaccord Genuity Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy	$63.00 ➝ $57.00	+31.67%
7/7/2023	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Equal Weight ➝ Overweight	$62.00 ➝ $61.00	+46.83%
4/21/2023	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy	$58.00 ➝ $67.00	+40.70%
3/7/2023	Fundamental Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Set Target	Buy	$51.92	+21.91%
11/21/2022	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$54.00	+20.46%
10/27/2022	Eight Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		$58.00	+34.79%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Friday at 04:13 PM ET.

NEM Forecast - Frequently Asked Questions

What is Newmont's forecast for 2024?: According to the research reports of 16 Wall Street equities research analysts, the average twelve-month stock price forecast for Newmont is $51.46, with a high forecast of $61.00 and a low forecast of $40.00.
Should I buy or sell Newmont stock right now?: 16 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Newmont in the last year. There are currently 4 hold ratings, 10 buy ratings and 2 strong buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" NEM shares.
Does Newmont's stock price have much upside?: According to analysts, Newmont's stock has a predicted upside of 20.58% based on their 12-month stock forecasts.
Has Newmont been upgraded or downgraded by Wall Street analysts recently?: Over the previous 90 days, Newmont's stock had 6 upgrades and 1 downgrade by analysts.
What analysts cover Newmont?: Newmont has been rated by research analysts at Argus, Bank of America, BMO Capital Markets, BNP Paribas, CIBC, Cibc World Mkts, Jefferies Financial Group, JPMorgan Chase & Co., Scotiabank, and UBS Group in the past 90 days.
Do Wall Street analysts like Newmont more than its competitors?: Analysts like Newmont more than other "basic materials" companies. The consensus rating score for Newmont is 2.88 while the average consensus rating score for "basic materials" companies is 2.69. Learn more on how NEM compares to other companies.