Stifel Canada Estimates Newmont’s FY2025 Earnings (NYSE:NEM)

Newmont Corporation (NYSE:NEM) – Analysts at Stifel Canada lifted their FY2025 earnings per share (EPS) estimates for shares of Newmont in a research report issued to clients and investors on Monday, July 21st. Stifel Canada analyst R. Profiti now anticipates that the basic materials company will post earnings of $5.00 per share for the year, up from their prior forecast of $4.55. Stifel Canada currently has a “Strong-Buy” rating on the stock. The consensus estimate for Newmont’s current full-year earnings is $3.45 per share.

A number of other brokerages have also weighed in on NEM. Wall Street Zen upgraded shares of Newmont from a “hold” rating to a “buy” rating in a report on Friday, May 30th. Argus set a $63.00 price objective on shares of Newmont in a report on Friday, April 25th. Stifel Nicolaus started coverage on shares of Newmont in a report on Wednesday, July 9th. They issued a “buy” rating and a $73.00 price objective for the company. CIBC set a $74.00 target price on shares of Newmont and gave the company a “neutral” rating in a research note on Tuesday, July 15th. Finally, Royal Bank Of Canada boosted their target price on shares of Newmont from $52.00 to $66.00 and gave the company a “sector perform” rating in a research note on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and an average target price of $62.49.

Newmont Price Performance

Shares of NYSE NEM opened at $61.57 on Thursday. Newmont has a twelve month low of $36.86 and a twelve month high of $62.56. The firm has a market cap of $68.52 billion, a P/E ratio of 13.80, a PEG ratio of 0.90 and a beta of 0.33. The company has a 50 day moving average of $56.74 and a 200 day moving average of $50.28. The company has a quick ratio of 1.70, a current ratio of 1.98 and a debt-to-equity ratio of 0.25.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.48. Newmont had a return on equity of 15.75% and a net margin of 25.77%. The firm had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same period in the previous year, the firm posted $0.72 EPS. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year.

Insiders Place Their Bets

In related news, Director Bruce R. Brook sold 2,077 shares of the company’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total value of $122,023.75. Following the completion of the transaction, the director owned 43,103 shares of the company’s stock, valued at approximately $2,532,301.25. This represents a 4.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $176,250.00. Following the completion of the transaction, the executive vice president directly owned 74,526 shares of the company’s stock, valued at $4,378,402.50. This represents a 3.87% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,231 shares of company stock valued at $679,813. Insiders own 0.05% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Newmont during the 4th quarter valued at about $626,074,000. Nuveen LLC bought a new position in shares of Newmont in the 1st quarter valued at about $306,507,000. Pacer Advisors Inc. lifted its holdings in shares of Newmont by 4,203.5% in the 1st quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company’s stock valued at $259,580,000 after acquiring an additional 5,251,616 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Newmont by 1,502.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock valued at $273,391,000 after acquiring an additional 4,399,778 shares during the last quarter. Finally, Voloridge Investment Management LLC purchased a new stake in Newmont in the 4th quarter worth about $92,693,000. Institutional investors own 68.85% of the company’s stock.

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.