Newmont (NEM)

• Market cap: $54.5B
• 1 day: 2.11%
• 5 days: 2.70%
• 1 month: 14.89%
• 3 months: 27.88%
• 6 months: -10.22%
• Year to date: 26.11%
• 1 year: 37.28%
• 5 years: 4.40%
• 10 years: 117.68%
• 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: 22,200

Fund manager confidence

Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)

1.5% more ownership

Funds ownership: 69.12% [Q3] → 70.62% (+1.5%) [Q4]

8% less funds holding

Funds holding: 1,223 [Q3] → 1,125 (-98) [Q4]

12% less call options, than puts

Call options by funds: $1.28B | Put options by funds: $1.46B

28% less repeat investments, than reductions

Existing positions increased: 350 | Existing positions reduced: 485

29% less capital invested

Capital invested by funds: $42.5B [Q3] → $30.1B (-$12.4B) [Q4]

30% less first-time investments, than exits

New positions opened: 169 | Existing positions closed: 243

52% less funds holding in top 10

Funds holding in top 10: 44 [Q3] → 21 (-23) [Q4]

Research analyst outlook

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

• Low target: $50 3% upside
• Avg. target: $50 3% upside
• High target: $50 3% upside

1 analyst rating

• positive: 0 0%
• neutral: 1 100%
• negative: 0 0%

Scotiabank Tanya Jakusconek 80% 1-year accuracy 16 / 20 met price target

3% upside $50

Sector Perform Maintained

21 Jan 2025