Newmont (NYSE:NEM) Price Target Cut to $59.00 by Analysts at Raymond James

Newmont (NYSE:NEM) had its price target dropped by research analysts at Raymond James from $62.00 to $59.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the basic materials company’s stock. Raymond James’ price objective suggests a potential upside of 40.04% from the stock’s previous close. Raymond James also issued estimates for Newmont’s Q2 2025 earnings at $0.83 EPS, Q3 2025 earnings at $0.83 EPS and FY2025 earnings at $3.39 EPS.

NEM has been the subject of several other reports. Royal Bank of Canada cut their price objective on Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research report on Thursday, October 24th. UBS Group cut Newmont from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $67.00 to $54.00 in a research report on Wednesday, October 30th. Jefferies Financial Group raised their price target on shares of Newmont from $54.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Cibc World Mkts downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Finally, Scotiabank downgraded Newmont from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $59.00 to $55.00 in a research report on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.31.

Newmont Price Performance

Newmont stock traded down $1.25 during mid-day trading on Monday, reaching $42.13. The company had a trading volume of 2,496,075 shares, compared to its average volume of 10,481,472. The stock’s 50-day simple moving average is $50.23 and its 200-day simple moving average is $47.51. The company has a market capitalization of $47.96 billion, a P/E ratio of -27.72, a P/E/G ratio of 0.38 and a beta of 0.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont has a 1 year low of $29.42 and a 1 year high of $58.72.

Newmont (NYSE:NEM) last posted its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The firm had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The firm’s revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 earnings per share. On average, equities analysts predict that Newmont will post 3.09 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total value of $1,049,400.00. Following the completion of the sale, the chief executive officer now owns 291,469 shares in the company, valued at $15,293,378.43. This represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $161,430.00. Following the transaction, the executive vice president now directly owns 91,596 shares in the company, valued at approximately $4,928,780.76. The trade was a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,000 shares of company stock worth $2,444,440. 0.06% of the stock is owned by corporate insiders.

Institutional Trading of Newmont

Large investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. lifted its stake in Newmont by 7.5% during the first quarter. Bessemer Group Inc. now owns 7,539 shares of the basic materials company’s stock valued at $271,000 after buying an additional 529 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Newmont by 95.7% during the first quarter. Lazard Asset Management LLC now owns 46,788 shares of the basic materials company’s stock valued at $1,676,000 after buying an additional 22,880 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Newmont by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,101 shares of the basic materials company’s stock worth $175,872,000 after buying an additional 313,736 shares during the last quarter. Silvercrest Asset Management Group LLC increased its holdings in shares of Newmont by 10.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 57,251 shares of the basic materials company’s stock valued at $2,052,000 after acquiring an additional 5,563 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Newmont by 19.1% in the 1st quarter. Janus Henderson Group PLC now owns 341,907 shares of the basic materials company’s stock valued at $12,256,000 after acquiring an additional 54,761 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Newmont Company Profile

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.