Scotiabank Estimates Newmont’s FY2027 Earnings (NYSE:NEM)

Newmont Corporation (NYSE:NEM) – Equities researchers at Scotiabank reduced their FY2027 earnings per share (EPS) estimates for shares of Newmont in a note issued to investors on Wednesday, August 19th. Scotiabank analyst T. Jakusconek now expects that the basic materials company will earn $9.14 per share for the year, down from their prior estimate of $9.21. Scotiabank currently has a “Outperform” rating and a $149.00 target price on the stock. The consensus estimate for Newmont’s current full-year earnings is $9.01 per share.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. The business had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same quarter in the previous year, the firm posted $1.43 EPS.

Several other research firms have also commented on NEM. National Bank Financial lowered their price target on shares of Newmont from $140.00 to $125.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Zacks Research downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. TD boosted their target price on shares of Newmont from $127.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Raymond James Financial restated an “outperform” rating and issued a $140.00 target price on shares of Newmont in a research report on Monday. Finally, Argus set a $110.00 price target on shares of Newmont in a research note on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $132.73.

Newmont Price Performance

Shares of NYSE NEM opened at $135.23 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. The firm has a market capitalization of $142.49 billion, a PE ratio of 17.07, a P/E/G ratio of 1.36 and a beta of 0.47. Newmont has a 1-year low of $70.91 and a 1-year high of $135.29. The business’s fifty day moving average price is $102.65 and its two-hundred day moving average price is $109.16.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Leonteq Securities AG bought a new stake in Newmont in the 4th quarter valued at $9,018,000. ARS Investment Partners LLC increased its holdings in shares of Newmont by 3.6% during the 4th quarter. ARS Investment Partners LLC now owns 697,063 shares of the basic materials company’s stock worth $69,602,000 after purchasing an additional 23,900 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in shares of Newmont during the 2nd quarter worth about $36,180,000. Asset One Wealth Management LLC acquired a new position in shares of Newmont during the second quarter valued at about $2,866,000. Finally, Private Advisory Group LLC acquired a new position in shares of Newmont during the second quarter valued at about $10,430,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $93.45, for a total transaction of $280,350.00. Following the transaction, the executive vice president owned 40,315 shares of the company’s stock, valued at approximately $3,767,436.75. This trade represents a 6.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction of $807,456.00. Following the sale, the chief executive officer owned 135,235 shares in the company, valued at $14,064,440. This trade represents a 5.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 32,091 shares of company stock worth $3,292,513 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Thursday, September 3rd. Newmont’s payout ratio is currently 13.13%.

About Newmont

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.