Newmont (NYSE:NEM) Stock Crosses Below Fifty Day Moving Average - Here's What Happened

Key Points

• Newmont shares fell below their 50-day moving average of $118.36, trading as low as $112.41 and last quoted at $112.57.
• The company beat quarterly estimates, reporting EPS of $2.20 versus $1.94 expected and revenue of $6.36 billion; revenue rose 15.2% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $137.20. Newmont also announced a quarterly dividend of $0.26 per share.

Newmont Corporation (NYSE:NEM - Get Free Report) shares crossed 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 traded.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on NEM shares. Canadian Imperial Bank of Commerce set a $154.00 target price on shares of Newmont in a research note on Friday, October 16th. TD Cowen reduced their price target on shares of Newmont from $133.00 to $131.00 in a research report on Tuesday, October 20th. TD upped 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. Sanford C. Bernstein increased their price objective on shares of Newmont from $144.00 to $150.00 in a research note on Friday, October 16th. Finally, Jefferies Financial Group increased their target price on shares of Newmont from $146.00 to $155.00 in a report on Friday, October 9th. Two equities research 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.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.20.

Newmont Stock Down 5.0%

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

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.26. The firm 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%. The firm's quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.71 earnings per share. On average, sell-side analysts anticipate that Newmont Corporation will post 9.18 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 21st. Stockholders of record on Wednesday, November 25th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, November 25th. Newmont's dividend payout ratio (DPR) is 12.09%.

Insider Buying and Selling

In related news, CEO Natascha Viljoen sold 3,882 shares of the firm's stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $108.04, for a total value of $419,411.28. Following the completion of the transaction, the chief executive officer owned 101,691 shares of the company's stock, valued at approximately $10,986,695.64. This trade represents a 3.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $108.04, for a total transaction of $324,120.00. Following the transaction, the executive vice president owned 31,315 shares in the company, valued at approximately $3,383,272.60. The trade was a 8.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 in the last 90 days. 0.06% of the stock is owned by company insiders.

Institutional Trading of Newmont

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in Newmont in the 2nd quarter worth about $11,289,753,000. State Street Corp boosted its position in Newmont by 3.1% during the 2nd quarter. State Street Corp now owns 52,396,702 shares of the basic materials company's stock worth $4,893,852,000 after acquiring an additional 1,565,716 shares during the period. First Eagle Investment Management LLC grew its stake in Newmont by 6.7% during the 3rd quarter. First Eagle Investment Management LLC now owns 12,342,538 shares of the basic materials company's stock valued at $1,423,588,000 after acquiring an additional 772,212 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Newmont by 5.3% during the 1st quarter. Bank of New York Mellon Corp now owns 12,237,940 shares of the basic materials company's stock valued at $1,324,757,000 after acquiring an additional 615,461 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Newmont by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,359,524 shares of the basic materials company's stock valued at $1,012,792,000 after acquiring an additional 184,586 shares in the last quarter. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.