Newmont Stock: Is Wall Street Bullish or Bearish?
Denver, Colorado-based Newmont Corporation (NEM) is a gold mining company that engages in the exploration and production of gold and other minerals like copper, silver, lead, and zinc. With a market cap of $57.4 billion, the company's operations are across the Americas, Australia, and Africa.
Shares of the gold mining giant have notably outpaced the broader market over the past 52 weeks. NEM has soared 30.5% over this time frame, while the broader S&P 500 Index ($SPX) has gained 10.2%. Moreover, shares of NEM are up 42.5% on a YTD basis, compared to SPX’s 3.9% decline.
Looking closer, Newmont has notably underperformed the industry-focused iShares MSCI Global Gold Miners ETF’s (RING) 51.6% rise over the past 52 weeks and 45% return on a YTD basis.
Newmont’s stock prices rose 4.8% in the trading session following the release of its solid Q1 2025 results on Apr. 23. The company reported sales of $5 billion, up 24.5% year-over-year, and remains on track to meet its 2025 guidance, with first-quarter results aligning with the outlook provided in February. Adjusted EPS came in at $1.25, a 127.3% increase from the prior-year quarter, surpassing the analyst’s estimates by 48.8%.
For the current fiscal year 2025, ending in December, analysts expect NEM's adjusted EPS to increase nearly 16.7% year-over-year to $4.06. 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 20 analysts covering the stock, the consensus rating is a “Moderate Buy.” That’s based on 12 “Strong Buy” ratings, one “Moderate Buy,” six “Holds,” and one “Moderate Sell.”
This configuration is slightly more bullish than a month ago, with nine “Strong Buy” ratings on the stock.
On Apr. 11, UBS (UBS) analyst Daniel Major raised NEM's price target to $60 and upgraded the stock to a “Buy” rating.
As of writing, Newmont’s mean price target of $62.51 implies a 17.9% premium to current price levels, while the Street-high target of $75 suggests a staggering 41.4% upside potential.
On the date of publication, Aditya Sarawgi 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. For more information please view the Barchart Disclosure Policy here.