Newmont (NEM)

• Market cap: $47.4B
• 1 day: 0.05%
• 5 days: 7.04%
• 1 month: 4.70%
• 3 months: -26.25%
• 6 months: -13.67%
• Year to date: 8.60%
• 1 year: 19.98%
• 5 years: -4.16%
• 10 years: 76.79%
• Sector: Materials
• Industry: Gold & Silver Mining

About: Newmont is the world's largest gold miner. It bought Goldcorp in 2019, combined its Nevada mines in a joint venture with competitor Barrick later that year, and also purchased competitor Newcrest in November 2023. Its portfolio includes 17 wholly or majority owned mines and interests in two joint ventures in the Americas, Africa, Australia and Papua New Guinea. The company is expected to produce roughly 5.5 million ounces of gold in 2024 from its core mines and 6.8 million in total. It is likely to sell a number of its higher cost, smaller mines accounting for 20% of forecast sales in 2024. Newmont also produces material amounts of copper, silver, zinc, and lead as byproducts. It had about two decades of gold reserves along with significant byproduct reserves at the end of December 2023.

Employees: 21,700

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

158% more first-time investments, than exits

New positions opened: 199 | Existing positions closed: 77

65% more funds holding in top 10

Funds holding in top 10: 26 [Q2] → 43 (+17) [Q3]

24% more capital invested

Capital invested by funds: $34.2B [Q2] → $42.5B (+$8.31B) [Q3]

10% more funds holding

Funds holding: 1,105 [Q2] → 1,216 (+111) [Q3]

1% less repeat investments, than reductions

Existing positions increased: 427 | Existing positions reduced: 432

1.66% less ownership

Funds ownership: 70.84% [Q2] → 69.18% (-1.66%) [Q3]

17% less call options, than puts

Call options by funds: $1.6B | Put options by funds: $1.93B

Research analyst outlook

4 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $53 27% upside
• Avg. target: $55 33% upside
• High target: $59 42% upside

4 analyst ratings

• positive: 1 25%
• neutral: 3 75%
• negative: 0 0%

Raymond James Brian MacArthur 15% 1-year accuracy 2 / 13 met price target	42% upside $59	Outperform Maintained	25 Nov 2024
UBS Daniel Major 38% 1-year accuracy 3 / 8 met price target	30% upside $54	Neutral Downgraded	30 Oct 2024
Scotiabank Tanya Jakusconek 60% 1-year accuracy 12 / 20 met price target	32% upside $55	Sector Perform Downgraded	25 Oct 2024
RBC Capital Josh Wolfson 75% 1-year accuracy 3 / 4 met price target	27% upside $53	Sector Perform Maintained	24 Oct 2024