Scotiabank Issues Optimistic Forecast for Newmont Earnings

Key Points

• Scotiabank raised its FY2026 EPS estimate for Newmont to $8.73 (from $8.44), maintained a "Sector Outperform" rating with a $151 price target, and projects $9.17 EPS for FY2027.
• Newmont delivered a strong Q1 beat—$2.90 EPS versus $2.07 expected and $7.31 billion in revenue (up 45.8% year‑over‑year)—and reaffirmed a quarterly dividend of $0.26 per share.
• Despite the beat, the stock fell after the company authorized a US$6 billion open‑ended buyback and insiders executed Rule 10b5‑1 sales to cover tax obligations, contributing to roughly a 10% intraday decline.

Newmont Corporation (NYSE:NEM - Free Report) - Research analysts at Scotiabank increased their FY2026 earnings per share (EPS) estimates for Newmont in a report released on Friday, May 1st. Scotiabank analyst T. Jakusconek now forecasts that the basic materials company will post earnings per share of $8.73 for the year, up from their prior estimate of $8.44. Scotiabank currently 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 $9.47 per share. Scotiabank also issued estimates for Newmont's FY2027 earnings at $9.17 EPS.

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

Several other research analysts have also recently weighed in on NEM. Citigroup upped their price objective on shares of Newmont from $118.00 to $150.00 and gave the stock a "buy" rating in a research report on Tuesday, March 3rd. National Bank Financial boosted their price target on shares of Newmont from $130.00 to $140.00 and gave the stock a "sector perform" rating in a research note on Friday, April 24th. The Goldman Sachs Group increased their price target on shares of Newmont from $123.20 to $125.10 and gave the stock a "buy" rating in a report on Tuesday, April 28th. Royal Bank Of Canada raised their price objective on shares of Newmont from $120.00 to $125.00 and gave the company an "outperform" rating in a research report on Tuesday, February 3rd. Finally, Sanford C. Bernstein upgraded shares of Newmont from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $121.00 to $157.00 in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Newmont currently has a consensus rating of "Moderate Buy" and an average price target of $142.51.

Newmont Stock Performance

Shares of NEM opened at $108.23 on Tuesday. Newmont has a 12-month low of $48.27 and a 12-month high of $134.88. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The company has a market cap of $115.54 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 1.55 and a beta of 0.43. The stock has a 50-day moving average price of $113.57 and a 200-day moving average price of $105.57.

Institutional Investors Weigh In On Newmont

Institutional investors have recently bought and sold shares of the stock. Checchi Capital Advisers LLC grew its position in Newmont by 21.9% during the 1st quarter. Checchi Capital Advisers LLC now owns 6,005 shares of the basic materials company's stock worth $650,000 after acquiring an additional 1,078 shares during the last quarter. Flynn Zito Capital Management LLC bought a new stake in Newmont in the first quarter valued at approximately $214,000. Hillsdale Investment Management Inc. boosted its stake in shares of Newmont by 9.0% during the first quarter. Hillsdale Investment Management Inc. now owns 10,900 shares of the basic materials company's stock valued at $1,180,000 after purchasing an additional 900 shares during the period. Retirement Planning Group LLC bought a new position in shares of Newmont in the first quarter worth approximately $452,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of Newmont by 3.6% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 78,935 shares of the basic materials company's stock worth $8,545,000 after buying an additional 2,718 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In related news, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the transaction, the insider owned 23,163 shares in the company, valued at $2,550,477.93. This trade represents a 9.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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, insider David James Fry sold 18,394 shares of the business's stock in a transaction on Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the sale, the insider directly owned 17,147 shares of the company's stock, valued at $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 43,068 shares of company stock valued at $4,769,475. Insiders own 0.06% of the company's stock.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. Newmont's dividend payout ratio (DPR) is 13.49%.

More Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont reported a sizable Q1 beat (strong revenue and EPS growth versus year‑ago) and reiterated a dividend — the quarter reinforces earnings momentum and cash generation. These 3 Companies Reported Record Breaking Results
• Positive Sentiment: Analysts have been raising targets and maintaining buy ratings after results (e.g., BMO, Citi, TD Cowen), which supports medium‑term upside expectations. MarketBeat Analyst Notes
• Positive Sentiment: Newmont appears on thematic lists (silver/mining screens) with meaningful upside calls, which could attract commodity‑focused investors. 5 Best Silver Mining Stocks to Buy
• Neutral Sentiment: Several insiders (Peter Wexler, David Thornton, Peter Toth) sold shares in early May — filings show sales were executed under Rule 10b5‑1 plans to cover tax withholding from vested awards, which is typically administrative rather than a vote of no confidence. SEC filings: Wexler Form 4 / Thornton Form 4 / Toth Form 4
• Negative Sentiment: The market reacted negatively to the combination of the Q1 results and a US$6 billion open‑ended buyback authorization — some accounts recorded a sharp intraday decline (~10%), suggesting profit taking, questions about buyback timing/size, or sensitivity to gold/commodity moves are pressuring the stock. Newmont (NEM) Is Down 10.0% After Authorizing US$6 Billion Buyback And Q1 Beat

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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