Newmont (NYSE:NEM) Price Target Cut to $131.00 by Analysts at TD Cowen

Key Points

• TD Cowen lowered Newmont’s price target from $133 to $131, while maintaining an implied upside of 18.89% from the prior close. The broader analyst consensus remains “Moderate Buy,” with a $137.25 target price.
• Newmont shares fell 3.4% to $110.19 during Tuesday trading. The stock remains below its 52-week high of $135.29 but above its 52-week low of $76.05.
• The company reported a quarterly earnings beat, with EPS of $2.20 versus the $1.94 consensus and revenue of $6.36 billion, up 15.2% year over year. Analysts and investors continue to weigh strong results against elevated costs and the delayed Red Chris production timeline.

Newmont (NYSE:NEM - Get Free Report) had its price target lowered by equities research analysts at TD Cowen from $133.00 to $131.00 in a research report issued on Tuesday. TD Cowen's price target suggests a potential upside of 18.89% from the company's previous close.

Other equities analysts have also recently issued reports about the stock. Bank of America decreased their target price on shares of Newmont from $157.00 to $132.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. BNP Paribas Exane cut their price target on shares of Newmont from $111.00 to $102.00 and set a "neutral" rating for the company in a research note on Tuesday, July 21st. Sanford C. Bernstein decreased their price objective on shares of Newmont from $147.00 to $144.00 and set an "outperform" rating for the company in a research report on Wednesday, September 9th. Jefferies Financial Group lowered their price objective on shares of Newmont from $158.00 to $146.00 and set a "buy" rating on the stock in a research note on Monday, July 6th. Finally, Zacks Research cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $137.25.

Newmont Stock Down 3.4%

NEM stock traded down $3.92 during mid-day trading on Tuesday, reaching $110.19. The company had a trading volume of 3,534,851 shares, compared to its average volume of 8,501,246. 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 stock has a 50 day simple moving average of $122.05 and a two-hundred day simple moving average of $111.00. The company has a market capitalization of $116.11 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 2.17 and a beta of 0.51. Newmont has a 52 week low of $76.05 and a 52 week high of $135.29.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.26. Newmont had a return on equity of 29.10% and a net margin of 33.36%. The company had revenue of $6.36 billion for the quarter, compared to analysts' expectations of $6.27 billion. During the same quarter in the prior year, the business posted $1.71 EPS. The business's revenue was up 15.2% compared to the same quarter last year. As a group, equities analysts predict that Newmont will post 9.04 earnings per share for the current fiscal year.

Insider Transactions at Newmont

In other news, CFO Brian Tabolt sold 11,445 shares of the firm's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the sale, the chief financial officer owned 29,324 shares in the company, valued at approximately $3,081,659.16. This trade represents a 28.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $114.81, for a total transaction of $344,430.00. Following the sale, the executive vice president directly owned 34,315 shares of the company's stock, valued at $3,939,705.15. The trade was a 8.04% 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. In the last 90 days, insiders sold 35,973 shares of company stock worth $3,927,169. 0.06% of the stock is owned by insiders.

Hedge Funds Weigh In On Newmont

Institutional investors and hedge funds have recently made changes to their positions in the company. Manchester Capital Management LLC bought a new position in shares of Newmont during the third quarter worth approximately $64,000. Farmers & Merchants Investments Inc. bought a new stake in Newmont in the 3rd quarter valued at $97,000. Rahlfs Capital LLC bought a new stake in Newmont in the 3rd quarter valued at $3,098,000. Capital Investment Advisors LLC acquired a new position in Newmont in the 3rd quarter valued at $55,824,000. Finally, Wedbush Securities Inc. acquired a new position in Newmont in the 3rd quarter valued at $2,550,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Trending Headlines about Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont reported adjusted earnings of $2.20 per share, above the $1.94 analyst consensus, while revenue rose 15.2% year over year to $6.36 billion. Higher gold prices, stronger gold sales and a recovery at Cadia helped drive the results. Newmont beats quarterly profit estimates on higher gold prices
• Positive Sentiment: Cash generation was strong, with third-quarter free cash flow of approximately $1.9 billion. Investors also received support from the company’s capital-return program, including a quarterly dividend of about $0.26 per share and a large buyback highlighted in recent coverage.
• Positive Sentiment: Management remains on track to achieve its 2026 production guidance and expects gold production to rebound in 2027, providing a potential growth catalyst for NEM. NEM Q3 Earnings Call Highlights
• Neutral Sentiment: Newmont improved its full-year 2026 all-in sustaining cost outlook to approximately $1,520 per ounce, but the figure still reflects elevated operating costs. The company also expects higher capital spending for the Red Chris expansion.
• Negative Sentiment: Red Chris commercial production is now targeted for 2033, making the project a distant payoff and increasing investor focus on execution, funding and interim cost pressures. Silver production is also expected to decline. Newmont targets Red Chris commercial production in 2033
• Negative Sentiment: Analyst sentiment was mixed: RBC raised its target to $155 with an outperform rating, while Freedom Broker maintained a hold rating but cut its target to $116. Other coverage questioned whether NEM is fully valued after its roughly 223% three-year gain, limiting the upside reaction to the earnings beat.

About Newmont

Newmont Corporation NYSE: NEM is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world's largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.

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