Equities Analysts Offer Predictions for Newmont Q4 Earnings

Newmont Co. (NYSE:NEM) – Analysts at National Bank Financial issued their Q4 2024 earnings estimates for Newmont in a note issued to investors on Monday, February 10th. National Bank Financial analyst M. Parkin forecasts that the basic materials company will earn $1.35 per share 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 several other research reports. CIBC cut Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Bernstein Bank raised their price objective on Newmont from $55.00 to $58.00 in a research report on Monday, November 11th. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $67.00 to $54.00 in a report on Wednesday, October 30th. CLSA started coverage on shares of Newmont in a report on Friday, November 29th. They issued an “underperform” rating on the stock. Finally, The Goldman Sachs Group began coverage on shares of Newmont in a research note on Monday, January 13th. They set a “buy” rating and a $47.20 price objective 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.37.

Newmont Price Performance

Shares of NEM opened at $46.83 on Thursday. The stock has a market capitalization of $53.31 billion, a PE ratio of -30.81, a PEG ratio of 0.38 and a beta of 0.52. The company has a 50 day moving average price of $40.76 and a 200-day moving average price of $46.50. 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 has a fifty-two week low of $29.42 and a fifty-two week high of $58.72.

Insider Buying and Selling at Newmont

In other news, Director Harry M. Iv Conger acquired 9,498 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was bought at an average price of $42.15 per share, with a total value of $400,340.70. Following the completion of the acquisition, the director now owns 14,498 shares of the company’s stock, valued at approximately $611,090.70. This represents a 189.96 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the 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 sale, the executive vice president now directly owns 82,596 shares in the company, valued at approximately $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,154 shares of company stock worth $1,166,843. Insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Newmont in the 4th quarter worth $626,074,000. Zurich Insurance Group Ltd FI acquired a new stake in Newmont during the third quarter worth about $98,011,000. Allianz SE purchased a new position in Newmont during the fourth quarter worth about $65,385,000. Nordea Investment Management AB boosted its holdings in Newmont by 173.0% in the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company’s stock valued at $92,832,000 after purchasing an additional 1,578,545 shares during the last quarter. Finally, Amundi grew its stake in shares of Newmont by 14.0% in the 4th quarter. Amundi now owns 12,302,579 shares of the basic materials company’s stock valued at $481,400,000 after buying an additional 1,507,708 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

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.