FY2024 Earnings Estimate for Newmont Issued By Raymond James

Newmont Co. (NYSE:NEM) – Stock analysts at Raymond James reduced their FY2024 EPS estimates for Newmont in a research note issued to investors on Monday, January 27th. Raymond James analyst B. Macarthur now anticipates that the basic materials company will post earnings of $2.91 per share for the year, down from their prior estimate of $2.96. Raymond James has a “Outperform” rating and a $59.00 price target on the stock. The consensus estimate for Newmont’s current full-year earnings is $3.07 per share. Raymond James also issued estimates for Newmont’s Q4 2024 earnings at $0.83 EPS, Q4 2025 earnings at $0.75 EPS and FY2025 earnings at $3.05 EPS.

Several other equities analysts have also issued reports on NEM. CLSA started coverage on Newmont in a research note on Friday, November 29th. They set an “underperform” rating on the stock. The Goldman Sachs Group started coverage on Newmont in a report on Monday, January 13th. They set a “buy” rating and a $47.20 price objective for the company. UBS Group lowered shares of Newmont from a “buy” rating to a “neutral” rating and reduced their price target for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upgraded Newmont from a “neutral” rating to an “overweight” rating in a report on Tuesday, November 19th. Finally, Scotiabank cut their price target on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.44.

Newmont Stock Performance

NYSE NEM opened at $41.58 on Tuesday. The company’s fifty day moving average is $40.35 and its two-hundred day moving average is $46.81. The firm has a market capitalization of $47.33 billion, a price-to-earnings ratio of -27.35, a P/E/G ratio of 0.33 and a beta of 0.50. 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 52-week low of $29.42 and a 52-week high of $58.72.

Insider Buying and Selling at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $83,080.00. Following the sale, the director now directly owns 52,070 shares of the company’s stock, valued at approximately $2,082,800. This represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the transaction, the executive vice president now owns 82,596 shares in the company, valued at $3,303,840. This represents a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,077 shares of company stock valued at $563,080 in the last 90 days. 0.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Newmont

Several hedge funds have recently added to or reduced their stakes in NEM. Heathbridge Capital Management Ltd. raised its position in shares of Newmont by 2.0% in the third quarter. Heathbridge Capital Management Ltd. now owns 10,300 shares of the basic materials company’s stock valued at $551,000 after purchasing an additional 200 shares during the period. E. Ohman J or Asset Management AB grew its position in shares of Newmont by 0.4% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 47,942 shares of the basic materials company’s stock worth $2,562,000 after purchasing an additional 200 shares in the last quarter. Fulton Bank N.A. increased its holdings in shares of Newmont by 1.5% during the third quarter. Fulton Bank N.A. now owns 15,188 shares of the basic materials company’s stock worth $812,000 after purchasing an additional 221 shares during the period. Carmel Capital Partners LLC raised its position in shares of Newmont by 4.5% in the third quarter. Carmel Capital Partners LLC now owns 5,221 shares of the basic materials company’s stock valued at $279,000 after buying an additional 226 shares in the last quarter. Finally, Good Life Advisors LLC boosted its stake in shares of Newmont by 4.6% in the third quarter. Good Life Advisors LLC now owns 5,182 shares of the basic materials company’s stock valued at $277,000 after buying an additional 229 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

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.