Newmont (NYSE:NEM) Stock Breaks Below 50-Day Moving Average – Here’s Why

Newmont Corporation (NYSE:NEM) shares passed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $118.36 and traded as low as $112.41. Newmont shares last traded at $112.5660, with a volume of 8,823,321 shares trading hands.

Analyst Ratings Changes

NEM has been the topic of several research reports. The Goldman Sachs Group dropped their price objective on shares of Newmont from $127.50 to $119.00 in a research note on Thursday, October 8th. Citigroup lifted their target price on shares of Newmont from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. TD boosted their price target on shares of Newmont from $127.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. BMO Capital Markets boosted their price target on shares of Newmont from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, September 29th. Finally, Scotiabank dropped their price target on shares of Newmont from $149.00 to $148.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 27th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $137.20.

Newmont Price Performance

The company has a quick ratio of 2.16, a current ratio of 2.45 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $116.98 billion, a P/E ratio of 13.09, a P/E/G ratio of 2.58 and a beta of 0.56. The company’s 50-day simple moving average is $118.36 and its 200 day simple moving average is $112.40.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, October 22nd. The basic materials company reported $2.20 EPS for the quarter, topping the consensus estimate of $1.94 by $0.26. The company had revenue of $6.36 billion for the quarter, compared to analyst estimates of $6.27 billion. Newmont had a net margin of 34.73% and a return on equity of 29.81%. Newmont’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.71 EPS. As a group, sell-side analysts expect that Newmont Corporation will post 9.18 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Wednesday, November 25th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, November 25th. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. Newmont’s dividend payout ratio is currently 12.09%.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $108.04, for a total transaction of $324,120.00. Following the completion of the sale, the executive vice president owned 31,315 shares in the company, valued at approximately $3,383,272.60. This represents a 8.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $123.00, for a total value of $477,486.00. Following the transaction, the chief executive officer directly owned 131,353 shares in the company, valued at approximately $16,156,419. This represents a 2.87% decrease in their position. 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 20,646 shares of company stock worth $2,380,140 over the last three months. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Newmont

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NEM. Smith Moore & CO. acquired a new stake in shares of Newmont during the 3rd quarter worth approximately $2,004,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Newmont during the 3rd quarter worth $219,000. Independent Family Office LLC bought a new position in shares of Newmont during the 3rd quarter valued at about $645,000. Sumitomo Mitsui Financial Group Inc. boosted its holdings in shares of Newmont by 6.5% in the third quarter. Sumitomo Mitsui Financial Group Inc. now owns 283,229 shares of the basic materials company’s stock valued at $32,668,000 after buying an additional 17,279 shares during the period. Finally, Intesa Sanpaolo Wealth Management bought a new position in Newmont during the 3rd quarter worth about $264,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

About Newmont

Newmont Corporation is a gold-focused mining company that explores for, develops, and operates mines. Its products include gold as well as copper, silver, zinc, and lead, which are produced at some of its mining operations. Founded in 1921, Newmont has grown through exploration and acquisitions into an international mining company. Its operations and projects span North America, South America, Australia, and Africa. Newmont is headquartered in Denver, Colorado. Natascha Viljoen became the company’s chief executive officer in 2025, succeeding Tom Palmer.