Newmont Corporation Anticipates Growth in Upcoming Earnings Report
Newmont Corporation (NEM), with a market capitalization of $50.7 billion, specializes in gold production and exploration. Headquartered in Denver, Colorado, the company also investigates opportunities in copper, silver, zinc, lead, and various other metals across the United States, Canada, Mexico, Peru, and Suriname.
Upcoming Earnings Expectations
The gold mining company is set to release its Q1 2025 earnings after the market closes on Wednesday, April 23. Analysts anticipate a non-GAAP profit of $0.74 per share, reflecting a 34.6% increase from the $0.55 per share reported in the same quarter last year. Over the past four quarters, Newmont has outperformed Wall Street’s expectations three times, with only one miss.
Forecast for Fiscal 2025
Looking to fiscal 2025, projections indicate that Newmont will generate a non-GAAP EPS of $3.60, a 3.5% increase from $3.48 in fiscal 2024. However, a slight decrease in earnings is predicted for fiscal 2026, with an expected EPS of $3.57.
Stock Performance and Market Comparison
Over the last 52 weeks, Newmont’s shares have risen by 22.9%, markedly outperforming the S&P 500 Index’s gain of 4.7% and the decline of 13.2% in the Materials Select Sector SPDR Fund (XLB).
Recent Earnings Report Insights
Despite surpassing earnings expectations, shares of Newmont experienced a 5.7% decline following its Q4 results announcement on February 20. The company reported an impressive 204.3% increase in adjusted EPS year-over-year to $1.40, exceeding consensus estimates by 47.4%. Additionally, revenue rose by 42.8% year-over-year to $5.7 billion, surpassing projections by 6%. This robust performance was driven by higher gold production and favorable price realization.
Analyst Ratings and Price Target
Analysts maintain a moderately optimistic outlook on NEM with a “Moderate Buy” rating overall. Among 18 analysts covering the stock, there are nine “Strong Buys,” one “Moderate Buy,” seven “Holds,” and one “Moderate Sell.” The average price target of $56.90 indicates a potential upside of 16.7% from current levels.
On the date of publication, Aditya Sarawgi did not have any positions in any of the securities mentioned in this article. All information and data are provided solely for informational purposes. For more details, please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
