Analysts Offer Predictions for Newmont Q4 Earnings

Newmont Co. (NYSE:NEM) – Investment analysts at National Bank Financial issued their Q4 2024 earnings per share estimates for Newmont in a research note issued on Monday, February 10th. National Bank Financial analyst M. Parkin anticipates 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.

Several other research firms have also commented on NEM. CLSA started coverage on Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. CIBC downgraded Newmont from a “sector outperform” rating to a “neutral” rating in a research report on Monday, October 28th. Scotiabank lowered their price target 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. JPMorgan Chase & Co. raised Newmont from a “neutral” rating to an “overweight” rating in a research report on Tuesday, November 19th. Finally, UBS Group downgraded Newmont from a “buy” rating to a “neutral” rating and lowered their price target for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.37.

Newmont Stock Performance

Newmont stock opened at $47.79 on Thursday. The firm has a market capitalization of $54.40 billion, a P/E ratio of -31.44, a PEG ratio of 0.38 and a beta of 0.52. The stock has a fifty day moving average price of $40.76 and a 200 day moving average price of $46.50. Newmont has a 52 week low of $29.42 and a 52 week high of $58.72. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NEM. Avior Wealth Management LLC boosted its holdings in Newmont by 191.8% in the third quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 326 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in Newmont in the third quarter valued at about $28,000. Highline Wealth Partners LLC acquired a new stake in Newmont during the third quarter valued at approximately $32,000. HHM Wealth Advisors LLC raised its stake in Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after buying an additional 350 shares in the last quarter. Finally, Redwood Park Advisors LLC acquired a new stake in Newmont during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Transactions at Newmont

In other Newmont news, Director Harry M. Iv Conger purchased 9,498 shares of Newmont stock in a transaction that occurred on Wednesday, November 27th. The stock was purchased 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 trade represents a 189.96 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bruce R. Brook sold 2,077 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.00, for a total value of $83,080.00. Following the completion of the transaction, the director now directly owns 52,070 shares of the company’s stock, valued at $2,082,800. This represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,154 shares of company stock valued at $1,166,843 over the last quarter. Company insiders own 0.06% 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.