Scotiabank Has Bullish Outlook for Newmont FY2026 Earnings

Key Points

• Scotiabank raised its FY2026 earnings estimate for Newmont to $8.83 per share from $8.80, maintaining a “Sector Outperform” rating and a $147 price target. The estimate remains slightly below the broader consensus of $8.99.
• Newmont’s latest quarterly results exceeded expectations, with EPS of $2.10 versus the $2.05 consensus, although revenue of $6.12 billion fell short of the $6.35 billion estimate.
• Analyst sentiment remains favorable, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $132.83. Newmont also declared a quarterly dividend of $0.26 per share, representing a 1.1% annualized yield.

Newmont Corporation (NYSE:NEM - Free Report) - Equities researchers at Scotiabank upped their FY2026 earnings estimates for shares of Newmont in a research note issued on Wednesday, July 29th. Scotiabank analyst T. Jakusconek now expects that the basic materials company will post earnings of $8.83 per share for the year, up from their previous estimate of $8.80. Scotiabank has a "Sector Outperform" rating and a $147.00 price objective on the stock. The consensus estimate for Newmont's current full-year earnings is $8.99 per share.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The firm had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.35 billion. During the same period in the prior year, the firm posted $1.43 earnings per share.

Several other research analysts also recently weighed in on the company. Raymond James Financial reduced their target price on Newmont from $139.00 to $137.00 and set an "outperform" rating for the company in a research note on Tuesday, June 30th. Barclays decreased their price target on shares of Newmont from $125.00 to $124.00 and set an "overweight" rating on the stock in a research note on Tuesday. Bank of America reduced their target price on shares of Newmont from $157.00 to $132.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. TD Securities raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Finally, Argus lifted their target price on shares of Newmont from $94.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $132.83.

Newmont Stock Performance

Shares of NEM stock opened at $91.34 on Thursday. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15. Newmont has a 12-month low of $61.76 and a 12-month high of $134.88. The business's 50 day moving average is $99.02 and its two-hundred day moving average is $109.65. The company has a market capitalization of $96.24 billion, a P/E ratio of 11.53, a P/E/G ratio of 1.02 and a beta of 0.46.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Cedar Mountain Advisors LLC acquired a new stake in shares of Newmont in the 1st quarter worth $25,000. Pinnacle Bancorp Inc. purchased a new position in Newmont during the first quarter worth about $25,000. Swiss RE Ltd. acquired a new stake in Newmont in the fourth quarter valued at about $26,000. Cornerstone Planning Group LLC boosted its holdings 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 purchasing an additional 206 shares in the last quarter. Finally, Lodestone Wealth Management LLC acquired a new position in Newmont during the 4th quarter worth approximately $28,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $92.38, for a total value of $277,140.00. Following the completion of the sale, the executive vice president directly owned 43,315 shares of the company's stock, valued at approximately $4,001,439.70. This represents a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 Newmont stock in a transaction on Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $408,852.24. Following the completion of the transaction, the chief executive officer directly owned 142,999 shares in the company, valued at $15,060,654.68. The trade was a 2.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,556 shares of company stock worth $3,058,146 in the last ninety days. Company insiders own 0.06% of the company's stock.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, September 3rd. Newmont's dividend payout ratio is 13.13%.

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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