Scotiabank Comments on Newmont's FY2026 Earnings (NYSE:NEM)

Key Points

• Scotiabank slightly trimmed its FY2026 EPS estimate for Newmont to $8.44 from $8.46 but retained a "Sector Outperform" rating and a $151 price target (consensus FY2026 EPS is $8.91).
• Newmont reported a strong Q1 beat—$2.90 EPS vs. $2.07 expected and $7.31B revenue—and announced record quarterly free cash flow (~$3.1B), a $6B share buyback authorization and a quarterly dividend of $0.26 per share.
• Analyst sentiment is mostly positive (average target ~$140.56), but investors should watch near-term risks including a regulatory directive in Ghana to localize mining operations and recent insider selling that may signal positioning shifts.

Newmont Corporation (NYSE:NEM - Free Report) - Investment analysts at Scotiabank reduced their FY2026 earnings per share estimates for Newmont in a report released on Thursday, April 23rd. Scotiabank analyst T. Jakusconek now anticipates that the basic materials company will earn $8.44 per share for the year, down from their prior estimate of $8.46. Scotiabank has a "Sector Outperform" rating and a $151.00 price target on the stock. The consensus estimate for Newmont's current full-year earnings is $8.91 per share. Scotiabank also issued estimates for Newmont's FY2027 earnings at $8.58 EPS.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating analysts' consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter in the prior year, the business posted $1.25 earnings per share. Newmont's revenue for the quarter was up 45.8% on a year-over-year basis.

A number of other research firms also recently commented on NEM. BMO Capital Markets increased their target price on Newmont from $140.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday. Canaccord Genuity Group increased their target price on Newmont from $140.00 to $150.00 and gave the stock a "buy" rating in a report on Friday, April 17th. Zacks Research downgraded Newmont from a "strong-buy" rating to a "hold" rating in a report on Friday, April 3rd. National Bank Financial increased their target price on Newmont from $130.00 to $140.00 and gave the stock a "sector perform" rating in a report on Friday. Finally, TD reduced their target price on Newmont from $118.00 to $116.00 and set a "hold" rating on the stock in a report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Newmont has an average rating of "Moderate Buy" and a consensus target price of $140.56.

Newmont Trading Up 0.0%

NYSE:NEM opened at $120.71 on Monday. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The business's 50 day moving average is $114.65 and its two-hundred day moving average is $104.91. Newmont has a 52 week low of $48.27 and a 52 week high of $134.88. The company has a market cap of $128.87 billion, a PE ratio of 15.66, a P/E/G ratio of 0.92 and a beta of 0.46.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, May 27th. Newmont's dividend payout ratio is presently 13.49%.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $113.09, for a total value of $339,270.00. Following the sale, the executive vice president owned 52,315 shares in the company, valued at approximately $5,916,303.35. This trade represents a 5.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David James Fry sold 18,394 shares of the business's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $111.45, for a total value of $2,050,011.30. Following the transaction, the insider owned 17,147 shares of the company's stock, valued at approximately $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,394 shares of company stock worth $2,713,281 over the last quarter. Insiders own 0.06% of the company's stock.

Institutional Trading of Newmont

Large investors have recently added to or reduced their stakes in the business. Pinnacle Bancorp Inc. acquired a new stake in Newmont in the 1st quarter valued at approximately $25,000. GoalVest Advisory LLC acquired a new stake in Newmont in the 4th quarter valued at approximately $25,000. Swiss RE Ltd. acquired a new stake in Newmont in the 4th quarter valued at approximately $26,000. Cornerstone Planning Group LLC increased its position in Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock valued at $27,000 after acquiring an additional 206 shares during the period. Finally, Lodestone Wealth Management LLC acquired a new stake in Newmont in the 4th quarter valued at approximately $28,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Beat on earnings and revenue — Newmont delivered Q1 EPS of $2.90 and revenue of $7.31B, well above estimates, driven by higher realized gold prices that lifted margins and year-over-year revenue growth. NEM's Q1 Earnings and Sales Trounce Estimates on Higher Gold Prices
• Positive Sentiment: Record cash flow and buyback boost — Newmont reported a record quarterly free cash flow (~$3.1B) and the board approved an additional $6B share repurchase authorization after prior programs were exhausted, signaling stronger capital returns ahead. Newmont jumps after record Q1 cash flow and expanded buyback plan
• Positive Sentiment: Dividend maintained/declared — The company declared a quarterly dividend (USD 0.261 per share), underlining a predictable cash-return policy alongside the buyback program. Newmont Generates Record Quarterly Earnings and Free Cash Flow, Reports First Quarter 2026 Results and Announces Increased Share Repurchase Authorization
• Positive Sentiment: Analyst support — Several firms raised price targets or maintained outperform/buy ratings following Q1 results (examples: BMO and Argus), providing further validation for upside. BMO raises Newmont price target
• Neutral Sentiment: Macro/metal price context — Gold has pulled back from its highs this week, which could mute upside if bullion weakens, but Newmont’s results show operating resilience that may offset short-term metal volatility. Gold Faces Headwinds From Calmer Markets, Yet Newmont's Record Cash Flow Tells Another Story
• Negative Sentiment: Regulatory risk in Ghana — Reuters reports Ghana’s regulator told Newmont and peers to transition mining operations to local contractors by December 2026 or face sanctions, creating potential cost, operational and timing uncertainty for African operations. Ghana directs Newmont, AngloGold to shift mining ops to local firms by December - Reuters
• Negative Sentiment: Insider selling and mixed institutional flows — Recent disclosures show notable insider sales and large institutional portfolio moves, which investors may watch as a potential signal of near-term positioning shifts. Newmont jumps after record Q1 cash flow and expanded buyback plan (insider/holder activity)

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.

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