Newmont (NYSE:NEM) Given New $59.00 Price Target at Raymond James

Newmont (NYSE:NEM) had its target price lowered by stock analysts at Raymond James from $62.00 to $59.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the basic materials company’s stock. Raymond James’ price target suggests a potential upside of 40.04% from the stock’s previous close. Raymond James also issued estimates for Newmont’s Q2 2025 earnings at $0.83 EPS, Q3 2025 earnings at $0.83 EPS and FY2025 earnings at $3.39 EPS.

Other research analysts have also recently issued reports about the company. Cibc World Mkts cut Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Scotiabank lowered Newmont from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $59.00 to $55.00 in a research note on Friday, October 25th. Bernstein Bank boosted their price target on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. Royal Bank of Canada dropped their target price on shares of Newmont from $54.00 to $53.00 and set a “sector perform” rating for the company in a research report on Thursday, October 24th. Finally, Veritas upgraded Newmont to a “strong-buy” rating in a report on Monday, September 30th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average target price of $54.31.

Newmont Stock Performance

NEM traded down $1.25 during trading on Monday, reaching $42.13. 2,496,075 shares of the company’s stock were exchanged, compared to its average volume of 10,481,472. The company has a quick ratio of 1.73, a current ratio of 1.96 and a debt-to-equity ratio of 0.30. The business has a 50 day moving average price of $50.23 and a 200 day moving average price of $47.51. Newmont has a fifty-two week low of $29.42 and a fifty-two week high of $58.72. The company has a market capitalization of $47.96 billion, a P/E ratio of -27.72, a PEG ratio of 0.38 and a beta of 0.51.

Newmont (NYSE:NEM) last announced its earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Newmont had a positive return on equity of 9.80% and a negative net margin of 7.03%. The firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same quarter last year, the business earned $0.36 EPS. The company’s revenue for the quarter was up 84.7% compared to the same quarter last year. As a group, analysts predict that Newmont will post 3.09 earnings per share for the current fiscal year.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following the transaction, the executive vice president now directly owns 91,596 shares in the company, valued at approximately $4,928,780.76. This trade represents a 3.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of Newmont stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $52.47, for a total transaction of $1,049,400.00. Following the transaction, the chief executive officer now directly owns 291,469 shares in the company, valued at $15,293,378.43. This represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,000 shares of company stock worth $2,444,440. Company insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NEM. Sanctuary Advisors LLC raised its position in shares of Newmont by 117.3% in the third quarter. Sanctuary Advisors LLC now owns 34,686 shares of the basic materials company’s stock valued at $1,854,000 after purchasing an additional 18,722 shares during the period. Virtu Financial LLC raised its holdings in Newmont by 183.2% during the 3rd quarter. Virtu Financial LLC now owns 23,136 shares of the basic materials company’s stock valued at $1,237,000 after acquiring an additional 14,967 shares during the period. McIlrath & Eck LLC raised its holdings in Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 361 shares during the period. TD Private Client Wealth LLC boosted its holdings in shares of Newmont by 27.2% in the third quarter. TD Private Client Wealth LLC now owns 3,471 shares of the basic materials company’s stock worth $186,000 after acquiring an additional 742 shares during the period. Finally, Virtue Capital Management LLC purchased a new position in shares of Newmont in the third quarter valued at $827,000. Institutional investors 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.