What is Scotiabank's Forecast for Newmont FY2025 Earnings?

Newmont Co. (NYSE:NEM - Free Report) - Equities researchers at Scotiabank reduced their FY2025 earnings per share (EPS) estimates for Newmont in a research note issued on Wednesday, March 19th. Scotiabank analyst T. Jakusconek now anticipates that the basic materials company will post earnings of $2.86 per share for the year, down from their prior estimate of $3.37. Scotiabank has a "Sector Perform" rating and a $50.00 price objective on the stock. The consensus estimate for Newmont's current full-year earnings is $3.45 per share. Scotiabank also issued estimates for Newmont's FY2026 earnings at $2.58 EPS.

Several other equities research analysts have also recently commented on NEM. The Goldman Sachs Group began coverage on Newmont in a research note on Monday, January 13th. They issued a "buy" rating and a $47.20 target price for the company. CLSA began coverage on Newmont in a report on Friday, November 29th. They set an "underperform" rating for the company. Royal Bank of Canada upped their target price on shares of Newmont from $47.00 to $52.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 11th. StockNews.com upgraded shares of Newmont from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. Finally, TD Securities dropped their price target on shares of Newmont from $46.00 to $45.00 and set a "hold" rating for the company in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Newmont presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.16.

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Newmont Price Performance

Shares of Newmont stock traded up $0.99 during midday trading on Monday, reaching $48.38. The company had a trading volume of 11,010,123 shares, compared to its average volume of 9,367,710. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The stock has a fifty day simple moving average of $44.52 and a 200 day simple moving average of $45.50. Newmont has a 1-year low of $34.18 and a 1-year high of $58.72. The company has a market capitalization of $54.53 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 0.41 and a beta of 0.54.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion.

Hedge Funds Weigh In On Newmont

Several hedge funds and other institutional investors have recently made changes to their positions in NEM. Thrivent Financial for Lutherans increased its stake in shares of Newmont by 10.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 89,287 shares of the basic materials company's stock worth $4,775,000 after purchasing an additional 8,449 shares during the last quarter. Avior Wealth Management LLC increased its position in Newmont by 191.8% during the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company's stock worth $27,000 after buying an additional 326 shares during the last quarter. Banco Santander S.A. raised its stake in Newmont by 43.8% in the third quarter. Banco Santander S.A. now owns 11,424 shares of the basic materials company's stock valued at $611,000 after buying an additional 3,480 shares during the period. Raymond James Trust N.A. lifted its position in shares of Newmont by 19.4% in the third quarter. Raymond James Trust N.A. now owns 11,318 shares of the basic materials company's stock valued at $605,000 after buying an additional 1,836 shares during the last quarter. Finally, Meridian Wealth Management LLC bought a new position in shares of Newmont during the 3rd quarter worth approximately $678,000. 68.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $131,130.00. Following the completion of the transaction, the executive vice president now owns 86,526 shares in the company, valued at approximately $3,782,051.46. This represents a 3.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $90,785.67. Following the completion of the sale, the director now owns 47,916 shares in the company, valued at approximately $2,094,408.36. This trade represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 33,231 shares of company stock valued at $1,388,758. 0.06% of the stock is owned by corporate insiders.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 4th will be given a $0.25 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 2.07%. Newmont's dividend payout ratio is presently 34.13%.

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.