TD Cowen Cuts Newmont (NYSE:NEM) Price Target to $116.00

24 Apr 2026, 06:44 by Sarita Garza · The Markets Daily

Newmont (NYSE:NEM – Free Report) had its price objective cut by TD Cowen from $118.00 to $116.00 in a report issued on Tuesday morning,MarketScreener reports. They currently have a hold rating on the basic materials company’s stock.

Several other brokerages have also recently issued reports on NEM. Stifel Nicolaus upped their target price on shares of Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Scotiabank decreased their target price on shares of Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a research report on Friday, March 20th. Wall Street Zen cut shares of Newmont from a “buy” rating to a “hold” rating in a research report on Saturday, April 4th. UBS Group decreased their target price on shares of Newmont from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Finally, Royal Bank Of Canada upped their target price 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. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $139.81.

Check Out Our Latest Stock Analysis on Newmont

Newmont Stock Down 0.8%

Shares of NEM stock opened at $111.00 on Tuesday. The stock has a market cap of $119.87 billion, a P/E ratio of 17.37, a PEG ratio of 0.85 and a beta of 0.46. Newmont has a 52 week low of $48.27 and a 52 week high of $134.88. The company has a quick ratio of 2.02, a current ratio of 2.29 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $114.75 and its two-hundred day simple moving average is $104.44.

Newmont (NYSE:NEM – Get Free Report) last announced its quarterly 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. The business had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The business’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.25 EPS. Analysts predict that Newmont will post 8.92 EPS for the current fiscal year.

Newmont Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Tuesday, March 3rd were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date was Tuesday, March 3rd. This is a positive change from Newmont’s previous quarterly dividend of $0.25. Newmont’s payout ratio is currently 16.28%.

Insider Activity

In other Newmont news, insider David James Fry sold 18,394 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the transaction, the insider directly owned 17,147 shares in the company, valued at $1,911,033.15. This represents a 51.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $113.09, for a total transaction of $339,270.00. Following the transaction, the executive vice president directly owned 52,315 shares in the company, valued at approximately $5,916,303.35. This trade represents a 5.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 24,394 shares of company stock worth $2,713,281 over the last quarter. 0.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Newmont

A number of institutional investors have recently modified their holdings of the stock. Estate Counselors LLC bought a new position in shares of Newmont during the third quarter valued at approximately $4,182,000. CWM LLC boosted its stake in shares of Newmont by 64.6% during the fourth quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock valued at $20,259,000 after purchasing an additional 79,617 shares in the last quarter. AustralianSuper Pty Ltd boosted its stake in shares of Newmont by 124.8% during the third quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock valued at $27,843,000 after purchasing an additional 183,360 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Newmont by 24.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock valued at $30,775,000 after purchasing an additional 54,530 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC boosted its stake in Newmont by 286.5% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company’s stock valued at $5,101,000 after acquiring an additional 44,846 shares in the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

More Newmont News

Here are the key news stories impacting Newmont this week:

Positive Sentiment: Q1 beat — Newmont reported adjusted EPS of $2.90 vs. ~$2.07 consensus and revenue $7.31B (above estimates); management said production ~1.3M attributable gold ounces. This strong beat is the main fundamental driver supporting the stock. Newmont Tops Q1 Earnings and Revenue Estimates
Positive Sentiment: Record cash flow and buyback — Newmont reported an all-time record quarterly free cash flow (~$3.1B) and increased its share repurchase authorization, a clear shareholder-friendly move likely to support the share price. Newmont Generates Record Quarterly Earnings and Free Cash Flow
Positive Sentiment: Dividend declared — the company declared a quarterly dividend of about $0.261 per share, which supports income-oriented investors and signals confidence in cash generation. Dividend Announcement
Positive Sentiment: Analyst upgrades on valuation — BMO raised its price target to $140 (maintained Outperform) and Argus raised its target to $125 (Buy), reflecting bullish views on cash flow and the company’s asset mix. BMO Price Target Raise
Neutral Sentiment: SEC filings & investor call — Newmont filed its Q1 report with the U.S. SEC and scheduled an investor call, standard disclosures that provide more details for investors but are procedural. SEC Filing & Investor Call
Neutral Sentiment: Valuation discussion — coverage pieces note Newmont’s recent earnings streak, Newcrest deal implications and strong momentum; useful context but not immediate catalysts. Valuation Assessment
Negative Sentiment: Regulatory risk in Ghana — Reuters reports Ghana directed Newmont and peers to shift mining operations to local firms by December, raising operational and political risk for West Africa assets. This kind of local content/order risk can hit investor sentiment. Ghana Directive
Negative Sentiment: Analyst caution — some firms (TD/TD Cowen) have issued more pessimistic forecasts or lowered expectations, which can cap near-term upside despite the beat. Analyst Pessimistic Forecasts
Negative Sentiment: Macroeconomic headwinds for gold — a firmer U.S. dollar and mixed safe-haven flows are pressuring gold-sector sentiment, which can mute gains in gold equities even after company-specific beats. Gold Market Headwinds

Newmont Company Profile

(Get Free Report)

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.