Newmont (NEM) Stock Forecast & Price Target

$53.48

-0.42 (-0.78%)

(As of 09/30/2024 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 16 Analyst Ratings

Sell
0

Hold
4

Buy
12

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

$52.62
-1.62% Downside

According to the 16 analysts' twelve-month price targets for Newmont, the average price target is $52.62. The highest price target for NEM is $65.00, while the lowest price target for NEM is $40.00. The average price target represents a forecasted downside of -1.62% from the current price of $53.48.

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NEM Analyst Ratings Over Time

Type	Current Forecast 10/2/23 to 10/1/24	1 Month Ago 9/2/23 to 9/1/24	3 Months Ago 7/4/23 to 7/3/24	1 Year Ago 10/2/22 to 10/2/23
Strong Buy	2 Strong Buy rating(s)	2 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	10 Buy rating(s)	10 Buy rating(s)	9 Buy rating(s)	10 Buy rating(s)
Hold	4 Hold rating(s)	4 Hold rating(s)	6 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	$52.62	$51.46	$49.13	$55.59
Forecasted Upside	-1.62% Downside	-3.61% Downside	13.16% Upside	56.38% 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	2.88	2.72	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Hold
Predicted Upside	-1.62% Downside	202.97% Upside	6.15% 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
9/17/2024	UBS Group 4 of 5 stars	D. Major Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Buy ➝ Buy	$50.00 ➝ $65.00	+22.97%
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 Subscribe to MarketBeat All Access for the recommendation accuracy rating		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
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.
7/10/2024	CIBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Sector Outperform	$46.00 ➝ $61.00	+35.11%
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%
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 Tuesday at 07:36 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 Tuesday, September 24, 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 has been consistently increasing, reaching $54.47 on the latest trading day, indicating positive momentum.
Newmont Co. has received multiple analyst upgrades, with price targets being raised, suggesting strong growth potential.
Newmont Co. reported better-than-expected earnings results, beating analyst estimates and demonstrating financial strength.
Institutional investors and hedge funds have been increasing their positions in Newmont Co., indicating confidence in the company's future performance.
Newmont Co. has a solid market capitalization of $62.81 billion, reflecting stability and size in the industry.

Newmont
Bear Case

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

Newmont Co. has a negative net margin of 13.16%, which may raise concerns about profitability and operational efficiency.
The company's stock has a price-to-earnings ratio of -20.40, which could indicate overvaluation or market skepticism.
Newmont Co. has a debt-to-equity ratio of 0.31, suggesting a moderate level of debt that investors should consider in their risk assessment.
While Newmont Co. has shown revenue growth, the company's beta of 0.49 indicates lower volatility compared to the market, potentially limiting returns.
Despite positive analyst ratings, there have been instances of downgrades, such as the shift from "overweight" to "neutral," which may signal uncertainties in the company's outlook.

NEM Forecast - Frequently Asked Questions

: According to the research reports of 16 Wall Street equities research analysts, the average twelve-month stock price forecast for Newmont is $52.62, with a high forecast of $65.00 and a low forecast of $40.00.
: 16 Wall Street equities research 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 equities research analysts is that investors should "moderate buy" NEM shares.
: According to analysts, Newmont's stock has a predicted downside of -1.62% based on their 12-month stock forecasts.
: Over the previous 90 days, Newmont's stock had 4 upgrades and 1 downgrade by analysts.
: Newmont has been rated by research analysts at Argus, BMO Capital Markets, CIBC, Cibc World Mkts, Jefferies Financial Group, JPMorgan Chase & Co., Scotiabank, and UBS Group in the past 90 days.
: 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 2.72. Learn more on how NEM compares to other companies.

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This page (NYSE:NEM) was last updated on 10/1/2024 by MarketBeat.com Staff

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