FY2024 EPS Estimates for Newmont Increased by Zacks Research

Newmont Co. (NYSE:NEM - Free Report) - Zacks Research lifted their FY2024 EPS estimates for Newmont in a research report issued to clients and investors on Tuesday, November 5th. Zacks Research analyst A. Barman now anticipates that the basic materials company will earn $3.06 per share for the year, up from their previous estimate of $2.91. The consensus estimate for Newmont's current full-year earnings is $3.12 per share. Zacks Research also issued estimates for Newmont's Q4 2024 earnings at $0.98 EPS, Q1 2025 earnings at $0.70 EPS, Q2 2025 earnings at $0.74 EPS, Q4 2025 earnings at $1.05 EPS, FY2025 earnings at $3.41 EPS, Q1 2026 earnings at $1.08 EPS, Q2 2026 earnings at $0.96 EPS and Q3 2026 earnings at $1.10 EPS.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company's quarterly revenue was up 84.7% compared to the same quarter last year.

NEM has been the topic of several other research reports. Raymond James upped their price target on shares of Newmont from $65.00 to $66.00 and gave the company an "outperform" rating in a report on Friday, October 25th. Scotiabank downgraded shares of Newmont from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the company from $59.00 to $55.00 in a research note on Friday, October 25th. CIBC downgraded shares of Newmont from a "sector outperform" rating to a "neutral" rating in a research note on Monday, October 28th. Royal Bank of Canada dropped their price objective on shares of Newmont from $54.00 to $53.00 and set a "sector perform" rating for the company in a research report on Thursday, October 24th. Finally, Argus raised shares of Newmont from a "hold" rating to a "buy" rating and set a $58.00 price objective for the company in a research report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $53.85.

Newmont Price Performance

NEM traded up $0.68 on Thursday, hitting $45.16. 11,724,806 shares of the company were exchanged, compared to its average volume of 10,441,122. Newmont has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The firm has a market capitalization of $51.41 billion, a P/E ratio of -29.69, a price-to-earnings-growth ratio of 0.38 and a beta of 0.51. 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 business's fifty day moving average is $52.49 and its 200 day moving average is $47.30.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Wednesday, November 27th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Wednesday, November 27th. Newmont's dividend payout ratio (DPR) is presently -65.79%.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the transaction, the executive vice president now directly owns 91,596 shares of the company's stock, valued at $4,928,780.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Newmont news, CEO Thomas Ronald Palmer sold 20,000 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the completion of the transaction, the chief executive officer now directly owns 291,469 shares of the company's stock, valued at $15,293,378.43. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following the sale, the executive vice president now owns 91,596 shares in the company, valued at $4,928,780.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 46,000 shares of company stock valued at $2,444,440. Company insiders own 0.06% of the company's stock.

Institutional Trading of Newmont

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Meeder Advisory Services Inc. raised its holdings in shares of Newmont by 25.0% in the 3rd quarter. Meeder Advisory Services Inc. now owns 16,268 shares of the basic materials company's stock worth $870,000 after purchasing an additional 3,256 shares in the last quarter. Napa Wealth Management bought a new stake in shares of Newmont in the 3rd quarter worth approximately $1,104,000. Capital City Trust Co. FL raised its holdings in shares of Newmont by 20.0% in the 3rd quarter. Capital City Trust Co. FL now owns 6,000 shares of the basic materials company's stock worth $321,000 after purchasing an additional 1,000 shares in the last quarter. Strengthening Families & Communities LLC raised its holdings in shares of Newmont by 8.8% in the 3rd quarter. Strengthening Families & Communities LLC now owns 44,457 shares of the basic materials company's stock worth $2,376,000 after purchasing an additional 3,610 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Newmont in the 3rd quarter worth approximately $1,288,000. 68.85% of the stock is currently owned by institutional investors.

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.