Scotiabank Has Negative Outlook of Newmont FY2025 Earnings

Newmont Co. (NYSE:NEM) – Stock analysts at Scotiabank decreased their FY2025 EPS estimates for shares of Newmont in a research report issued to clients and investors on Wednesday, March 19th. Scotiabank analyst T. Jakusconek now expects that the basic materials company will post earnings of $2.86 per share for the year, down from their previous forecast of $3.37. Scotiabank has a “Sector Perform” rating and a $50.00 price objective on the stock. The consensus estimate for Newmont’s current full-year earnings is $3.45 per share. Scotiabank also issued estimates for Newmont’s FY2026 earnings at $2.58 EPS.

NEM has been the subject of several other research reports. The Goldman Sachs Group initiated coverage on shares of Newmont in a research report on Monday, January 13th. They issued a “buy” rating and a $47.20 price target for the company. CLSA began coverage on shares of Newmont in a research report on Friday, November 29th. They set an “underperform” rating for the company. TD Securities decreased their target price on shares of Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, February 26th. Raymond James decreased their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. Finally, Royal Bank of Canada increased their target price on shares of Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.16.

Newmont Price Performance

Shares of NEM opened at $47.23 on Monday. The company has a 50 day moving average price of $44.10 and a 200-day moving average price of $45.54. Newmont has a fifty-two week low of $33.86 and a fifty-two week high of $58.72. The stock has a market capitalization of $53.24 billion, a PE ratio of 16.12, a PEG ratio of 0.41 and a beta of 0.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.29. Newmont had a net margin of 17.92% and a return on equity of 13.52%. The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion.

Institutional Investors Weigh In On Newmont

Several hedge funds and other institutional investors have recently bought and sold shares of NEM. Norges Bank acquired a new stake in Newmont during the fourth quarter worth about $626,074,000. Voloridge Investment Management LLC acquired a new stake in Newmont during the fourth quarter worth about $92,693,000. Capital Research Global Investors increased its position in Newmont by 70.7% during the fourth quarter. Capital Research Global Investors now owns 5,644,953 shares of the basic materials company’s stock worth $210,105,000 after purchasing an additional 2,338,953 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Newmont during the fourth quarter worth about $76,281,000. Finally, Invesco Ltd. increased its position in Newmont by 23.9% during the fourth quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company’s stock worth $391,568,000 after purchasing an additional 2,028,150 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated 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 approximately $3,303,840. This trade represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the completion of the transaction, the director now directly owns 47,916 shares in the company, valued at approximately $2,094,408.36. This represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,231 shares of company stock valued at $1,388,758. Corporate insiders own 0.06% of the company’s stock.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Tuesday, March 4th. Newmont’s dividend payout ratio is currently 34.13%.

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.