Newmont (NEM) Stock Forecast & Price Target

$41.23 -0.35 (-0.84%)

(As of 11/13/2024 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 17 Analyst Ratings

Sell
0

Hold
8

Buy
9

Based on 17 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 17 analysts, 8 have given a hold rating, 7 have given a buy rating, and 2 have given a strong buy rating for NEM.

Consensus Price Target

$54.14
31.32% Upside

According to the 17 analysts' twelve-month price targets for Newmont, the average price target is $54.14. The highest price target for NEM is $66.00, while the lowest price target for NEM is $45.00. The average price target represents a forecasted upside of 31.32% from the current price of $41.23.

NEM Analyst Ratings Over Time

Type	Current Forecast 11/15/23 to 11/14/24	1 Month Ago 10/16/23 to 10/15/24	3 Months Ago 8/17/23 to 8/16/24	1 Year Ago 11/15/22 to 11/15/23
Strong Buy	2 Strong Buy rating(s)	3 Strong Buy rating(s)	2 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	7 Buy rating(s)	10 Buy rating(s)	8 Buy rating(s)	11 Buy rating(s)
Hold	8 Hold rating(s)	4 Hold rating(s)	6 Hold rating(s)	4 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$54.14	$53.46	$50.00	$53.68
Forecasted Upside	31.32% Upside	-4.00% Downside	-0.44% Downside	47.60% Upside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Moderate Buy

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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	2.65	2.77	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Hold
Predicted Upside	31.32% Upside	126.48% Upside	8.03% Upside
News Sentiment Rating	Positive News See Recent NEM 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
11/11/2024	Bernstein Bank 0 of 5 stars		Boost Target		$55.00 ➝ $58.00	+36.28%
10/30/2024	UBS Group 4 of 5 stars	D. Major Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Buy ➝ Neutral	$67.00 ➝ $54.00	+12.97%
10/28/2024	Cibc World Mkts 0 of 5 stars	A. Soni Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Strong-Buy ➝ Hold
10/28/2024	CIBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Sector Outperform ➝ Neutral
10/25/2024	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$65.00 ➝ $66.00	+35.55%
10/25/2024	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating	T. Jakusconek Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Sector Outperform ➝ Sector Perform	$59.00 ➝ $55.00	+11.68%
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10/24/2024	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Sector Perform ➝ Sector Perform	$54.00 ➝ $53.00	-0.02%
10/4/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$54.00 ➝ $63.00	+18.40%
9/30/2024	Veritas Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Pradier Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Strong-Buy
8/29/2024	Argus Subscribe to MarketBeat All Access for the recommendation accuracy rating	W. Selesky Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Buy	$58.00	+11.90%
7/25/2024	BMO Capital Markets Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$56.00 ➝ $57.00	+23.70%
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
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%
11/21/2023	Macquarie Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Outperform	$45.00	+23.09%
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%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Thursday at 02:34 AM ET.

Should I Buy Newmont Stock? NEM Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Thursday, October 31, 2024. Please send any questions or comments about these Newmont pros and cons to contact@marketbeat.com.

Newmont
Bull Case

Here are some ways that investors could benefit from investing in Newmont Co.:

Newmont Co. stock price is currently at $54.30, showing positive momentum in the market.
Newmont Co. has a market capitalization of $62.62 billion, indicating a strong presence in the industry.
Recent insider trading activities show confidence in the company's future prospects.
Analyst ratings have been favorable, with a majority of analysts giving buy or strong buy recommendations.
Newmont Co. has a low debt-to-equity ratio of 0.31, reflecting a healthy financial position.

Newmont
Bear Case

Investors should be bearish about investing in Newmont Co. for these reasons:

The stock has a negative P/E ratio of -20.34, which may raise concerns about valuation.
Newmont Co. has a beta of 0.50, indicating lower volatility compared to the market average.
Recent selling activities by company insiders could signal potential concerns about future performance.
While analyst ratings have been positive, there is always a risk of market fluctuations impacting stock performance.
The stock's 50-day moving average is $52.00, which may indicate short-term price volatility.

NEM Forecast - Frequently Asked Questions

: According to the research reports of 17 Wall Street equities research analysts, the average twelve-month stock price forecast for Newmont is $54.14, with a high forecast of $66.00 and a low forecast of $45.00.
: 17 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Newmont in the last twelve months. There are currently 8 hold ratings, 7 buy ratings and 2 strong buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" NEM shares.
: According to analysts, Newmont's stock has a predicted upside of 31.32% based on their 12-month stock forecasts.
: Over the previous 90 days, Newmont's stock had 4 downgrades and 3 upgrades by analysts.
: Newmont has been rated by research analysts at Argus, Bernstein Bank, CIBC, Cibc World Mkts, Jefferies Financial Group, Raymond James, Royal Bank of Canada, Scotiabank, UBS Group, and Veritas in the past 90 days.
: Analysts like Newmont less than other "basic materials" companies. The consensus rating score for Newmont is 2.65 while the average consensus rating score for "basic materials" companies is 2.76. Learn more on how NEM compares to other companies.

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This page (NYSE:NEM) was last updated on 11/14/2024 by MarketBeat.com Staff

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Newmont (NEM) Stock Forecast & Price Target