Analysts Offer Predictions for Newmont Q4 Earnings

Newmont Co. (NYSE:NEM) – Stock analysts at National Bank Financial issued their Q4 2024 earnings estimates for Newmont in a research report issued on Monday, February 10th. National Bank Financial analyst M. Parkin forecasts that the basic materials company will post earnings per share of $1.35 for the quarter. The consensus estimate for Newmont’s current full-year earnings is $3.09 per share. National Bank Financial also issued estimates for Newmont’s FY2025 earnings at $4.48 EPS.

NEM has been the topic of a number of other reports. CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a research note on Monday, October 28th. Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. Scotiabank dropped their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. Bernstein Bank upped their price objective on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. Finally, CLSA started coverage on Newmont in a report on Friday, November 29th. They issued an “underperform” rating for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.37.

Newmont Stock Performance

Shares of NEM stock opened at $46.83 on Thursday. Newmont has a one year low of $29.42 and a one year high of $58.72. 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 firm’s 50 day moving average price is $40.76 and its 200-day moving average price is $46.50. The firm has a market cap of $53.31 billion, a P/E ratio of -30.81, a P/E/G ratio of 0.38 and a beta of 0.52.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the transaction, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at $3,303,840. The trade was a 3.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Harry M. Iv Conger purchased 9,498 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were acquired at an average price of $42.15 per share, with a total value of $400,340.70. Following the purchase, the director now owns 14,498 shares in the company, valued at $611,090.70. This trade represents a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 28,154 shares of company stock worth $1,166,843 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Newmont

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC lifted its holdings in shares of Newmont by 11.2% during the third quarter. CWM LLC now owns 19,111 shares of the basic materials company’s stock worth $1,021,000 after purchasing an additional 1,930 shares during the period. Exchange Traded Concepts LLC acquired a new stake in shares of Newmont in the 3rd quarter worth $301,000. Creative Planning boosted its holdings in shares of Newmont by 23.4% in the third quarter. Creative Planning now owns 129,379 shares of the basic materials company’s stock valued at $6,915,000 after acquiring an additional 24,536 shares in the last quarter. NBC Securities Inc. increased its stake in shares of Newmont by 13.9% during the third quarter. NBC Securities Inc. now owns 4,466 shares of the basic materials company’s stock worth $238,000 after acquiring an additional 544 shares during the period. Finally, Swedbank AB increased its stake in shares of Newmont by 13.1% during the third quarter. Swedbank AB now owns 756,240 shares of the basic materials company’s stock worth $40,421,000 after acquiring an additional 87,537 shares during the period. 68.85% of the stock is owned by hedge funds and other 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.