What is Scotiabank's Forecast for Newmont FY2025 Earnings?

Key Points

• Scotiabank has revised its FY2025 earnings per share estimate for Newmont to $7.37, an increase from the previous estimate of $7.30.
• Multiple research analysts have upgraded their ratings on Newmont, with National Bank Financial changing its rating from "hold" to "strong-buy".
• Newmont currently has a market capitalization of C$127.42 billion and a consensus price target of C$85.00 according to MarketBeat.

Newmont Corporation (NYSE:NEM - Free Report) - Analysts at Scotiabank lifted their FY2025 earnings per share estimates for Newmont in a research note issued on Wednesday, September 24th. Scotiabank analyst T. Jakusconek now expects that the basic materials company will post earnings per share of $5.30 for the year, up from their prior estimate of $5.28. Scotiabank has a "Sector Perform" rating and a $72.00 price target on the stock. The consensus estimate for Newmont's current full-year earnings is $3.45 per share.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.48. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $4.70 billion. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The business's quarterly revenue was up 20.8% on a year-over-year basis. During the same period last year, the business earned $0.72 EPS.

NEM has been the subject of several other research reports. BNP Paribas Exane lifted their price objective on shares of Newmont from $66.00 to $92.00 and gave the company an "outperform" rating in a research note on Monday, September 15th. BNP Paribas lowered Newmont from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 4th. CIBC upped their price target on Newmont from $74.00 to $78.00 and gave the stock a "neutral" rating in a research note on Friday, September 12th. Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, National Bankshares reissued an "outperform" rating on shares of Newmont in a research note on Monday. Four equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $73.38.

Newmont Trading Up 0.2%

NYSE:NEM opened at $83.60 on Friday. The company has a market capitalization of $91.83 billion, a P/E ratio of 15.01, a P/E/G ratio of 0.97 and a beta of 0.34. The stock's 50 day moving average price is $71.48 and its 200 day moving average price is $59.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 2.23. Newmont has a 52 week low of $36.86 and a 52 week high of $86.62.

Institutional Investors Weigh In On Newmont

Several hedge funds have recently made changes to their positions in the stock. Hemington Wealth Management boosted its position in shares of Newmont by 17.6% in the 2nd quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company's stock worth $66,000 after purchasing an additional 170 shares in the last quarter. IVC Wealth Advisors LLC boosted its stake in Newmont by 1.3% in the 2nd quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company's stock worth $813,000 after purchasing an additional 173 shares in the last quarter. L2 Asset Management LLC increased its stake in Newmont by 3.6% during the 2nd quarter. L2 Asset Management LLC now owns 4,987 shares of the basic materials company's stock valued at $291,000 after purchasing an additional 174 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Newmont by 11.9% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company's stock worth $101,000 after buying an additional 185 shares during the last quarter. Finally, Aaron Wealth Advisors LLC lifted its stake in shares of Newmont by 4.4% during the second quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company's stock worth $260,000 after buying an additional 190 shares during the period. Institutional investors own 68.85% of the company's stock.

Insider Activity

In other Newmont news, CAO Brian Tabolt sold 7,015 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the completion of the sale, the chief accounting officer directly owned 32,615 shares of the company's stock, valued at $2,218,472.30. This represents a 17.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce R. Brook sold 2,077 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $74.59, for a total transaction of $154,923.43. Following the completion of the sale, the director owned 38,949 shares in the company, valued at $2,905,205.91. This represents a 5.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,246 shares of company stock valued at $1,253,559. 0.05% of the stock is owned by company insiders.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, September 4th. Newmont's dividend payout ratio is currently 17.95%.

Newmont Company Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.