With a market cap of $68.4 billion, Newmont Corporation (NEM) is a prominent gold mining company that engages in the exploration and production of gold and other minerals like copper, silver, lead, and zinc. The Denver, Colorado-based company operates across the Americas, Australia, and Africa.
Shares of the gold mining giant have notably outpaced the broader market over the past 52 weeks. NEM has soared 31% over this time frame, while the broader S&P 500 Index ($SPX) has gained 16.6%. Moreover, shares of NEM are up 66.9% on a YTD basis, compared to SPX’s 7.8% rally.
Looking closer, Newmont has also surpassed the industry-focused iShares MSCI Global Gold Miners ETF’s (RING) 16.6% rise over the past 52 weeks and 7.8% return on a YTD basis.
On July 31, Newmont shares dropped marginally after the company sold its entire stake of 29.2 million common shares in Orosur Mining Inc. through a private transaction at C$0.19 per share, totaling approximately C$5.55 million. Prior to the sale, Newmont held about 9.4% of Orosur’s outstanding shares.
For the current fiscal year 2025, ending in December, analysts expect NEM's adjusted EPS to increase nearly 46.6% year-over-year to $5.10. The company's earnings surprise history is mixed. It beat the consensus estimates in three of the last four quarters while missing on one other occasion.
Among the 21 analysts covering the stock, the consensus rating is a “Moderate Buy.” That’s based on 13 “Strong Buy” ratings, one “Moderate Buy,” six “Holds,” and one “Moderate Sell.”
This configuration is slightly more bullish than a month ago, with 12 “Strong Buy” ratings on the stock.
On Jul. 28, Scotiabank analyst Tanya Jakusconek raised Newmont’s price target from $69 to $72 while maintaining a “Sector-Perform” rating.
Newmont’s mean price target of $70.54 implies a 13.6% premium to current price levels, while the Street-high target of $85 suggests a staggering 36.9% upside potential from the prevailing market prices.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com
