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Newmont (NEM) Stock Forecast & Price Target

$41.23
-1.16 (-2.74%)
(As of 05/23/2024 ET)

Newmont - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy
Based on 14 Analyst Ratings

Consensus Price Target

$48.36
17.29% Upside
High Forecast$61.00
Average Forecast$48.36
Low Forecast$38.00
TypeCurrent Forecast
5/24/23 to 5/23/24
1 Month Ago
4/24/23 to 4/23/24
3 Months Ago
2/23/23 to 2/23/24
1 Year Ago
5/24/22 to 5/24/23
Consensus Rating
Moderate Buy
Moderate Buy
Moderate Buy
Moderate Buy
Strong Buy
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
Buy
7 Buy rating(s)
7 Buy rating(s)
10 Buy rating(s)
8 Buy rating(s)
Hold
7 Hold rating(s)
6 Hold rating(s)
5 Hold rating(s)
2 Hold rating(s)
Sell
0 Sell rating(s)
0 Sell rating(s)
0 Sell rating(s)
0 Sell rating(s)
Consensus Price Target$48.36$47.58$50.93$57.54
Forecasted Upside17.29% Upside29.98% Upside26.50% Upside23.40% Upside
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NEM Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.
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NEM Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.
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Newmont Stock vs. The Competition

TypeNewmontBasic Materials CompaniesS&P 500
Consensus Rating Score
2.50
2.58
2.49
Consensus RatingModerate BuyModerate BuyHold
Predicted Upside13.32% Upside417.06% Upside8.73% Upside
News Sentiment RatingNeutral News
Neutral News
Positive News

Recent Analyst Forecasts and Stock Ratings

DateBrokerageAnalyst NameActionRatingPrice TargetUpside/Downside on Report DateDetails
5/23/2024Scotiabank
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 Boost TargetSector Perform ➝ Sector Perform$46.50 ➝ $48.00+16.34%
5/21/2024BMO Capital Markets
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 Lower TargetOutperform$54.00 ➝ $53.00+20.54%
5/16/2024Sanford C. Bernstein
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 Lower TargetMarket Perform ➝ Market Perform$46.00 ➝ $45.00+4.51%
4/30/2024National Bank Financial
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M. Parkin
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DowngradeOutperform Overweight ➝ Sector Perform Overweight
4/26/2024TD Securities
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 Boost TargetHold ➝ Hold$43.00 ➝ $48.00+12.81%
4/4/2024Citigroup
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 Lower TargetBuy ➝ Buy$60.00 ➝ $45.00+19.36%
2/29/2024Jefferies Financial Group
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 Initiated CoverageBuy$34.00 ➝ $38.00+27.22%
2/26/2024Argus
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 DowngradeBuy ➝ Hold
2/8/2024Royal Bank of Canada
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 Lower TargetSector Perform ➝ Sector Perform$45.00 ➝ $40.00+20.19%
12/13/2023UBS Group
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 Lower TargetNeutral ➝ Neutral$42.00 ➝ $40.00+4.77%
11/21/2023Macquarie
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 Initiated CoverageOutperform$45.00+23.09%
10/27/2023Raymond James
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 Lower TargetOutperform$59.00 ➝ $57.00+48.05%
7/24/2023Canaccord Genuity Group
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 Lower TargetBuy$63.00 ➝ $57.00+31.67%
7/21/2023CIBC
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 DowngradeSector Outperform ➝ Neutral$54.00 ➝ $50.00+17.79%
7/7/2023Barclays
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 UpgradeEqual Weight ➝ Overweight$62.00 ➝ $61.00+46.83%
4/21/2023The Goldman Sachs Group
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 Boost TargetBuy$58.00 ➝ $67.00+40.70%
3/7/2023Fundamental Research
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 Set TargetBuy$51.92+21.91%
2/13/2023BNP Paribas
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 UpgradeNeutral ➝ Outperform$60.00+25.05%
11/21/2022Credit Suisse Group
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 Boost Target$54.00+20.46%
10/27/2022Eight Capital
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 Lower Target$58.00+34.79%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Thursday at 07:25 PM ET.

NEM Frequently Asked Questions

What is Newmont's stock forecast and purchase recommendation?

According to the research reports of 14 Wall Street equities research analysts, the average twelve-month stock price forecast for Newmont is $48.36, with a high forecast of $61.00 and a low forecast of $38.00. The consensus rating for Newmont stock is Moderate Buy based on the current 7 hold ratings and 7 buy ratings for NEM. Learn more on NEM's analyst rating history.

Do Wall Street analysts like Newmont more than its competitors?

Analysts like Newmont less than other "basic materials" companies. The consensus rating score for Newmont is 2.50 while the average consensus rating score for "basic materials" companies is 2.58. Learn more on how NEM compares to other companies.

Is Newmont being downgraded by Wall Street analysts?

Over the previous 90 days, Newmont's stock had 2 downgrades by analysts.

Does Newmont's stock price have much upside?

According to analysts, Newmont's stock has a predicted upside of 22.27% based on their 12-month stock forecasts.

What analysts cover Newmont?

Newmont has been rated by research analysts at Argus, BMO Capital Markets, Citigroup, Jefferies Financial Group, National Bank Financial, Sanford C. Bernstein, Scotiabank, and TD Securities in the past 90 days.


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This page (NYSE:NEM) was last updated on 5/23/2024 by MarketBeat.com Staff

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