NEWMONT CORPORATION REGISTERED (NEM)
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NEM

NEM - NEWMONT CORPORATION REGISTERED

FNArena Sector : Gold & Silver
Year End: December
GICS Industry Group : Materials
Debt/EBITDA: 1.12
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$82.04

28 May
2025

0.660

OPEN

$81.50

0.81%

HIGH

$82.04

318,741

LOW

$81.30

TARGET
$94.60 15.3% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
NEM: 1
Title FY25
Forecast		 FY26
Forecast
EPS (cps) 661.1 xxx
DPS (cps) 154.8 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 12.3 xxx
Dividend Yield 1.9% xxx
Div Pay Ratio(%) 23.4% xxx
This company reports in USD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 29.22%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.85

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 26/11 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx433.9
DPS All xxxxxxxxxxxxxxx151.1
Sales/Revenue xxxxxxxxxxxxxxx28,133.8 M
Book Value Per Share xxxxxxxxxxxxxxx4,289.0
Net Operating Cash Flow xxxxxxxxxxxxxxx9,646.8 M
Net Profit Margin xxxxxxxxxxxxxxx17.68 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx10.94 %
Return on Invested Capital xxxxxxxxxxxxxxx8.66 %
Return on Assets xxxxxxxxxxxxxxx5.77 %
Return on Equity xxxxxxxxxxxxxxx10.94 %
Return on Total Capital xxxxxxxxxxxxxxx14.51 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx2,753.2 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx1,697 M
Long Term Debt xxxxxxxxxxxxxxx12,986 M
Total Debt xxxxxxxxxxxxxxx14,683 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx5,881 M
Price To Book Value xxxxxxxxxxxxxxx1.39

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx5,157.7 M
Capex % of Sales xxxxxxxxxxxxxxx18.33 %
Cost of Goods Sold xxxxxxxxxxxxxxx18,395 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,025 M
Research & Development xxxxxxxxxxxxxxx299 M
Investments - Total xxxxxxxxxxxxxxx7,523 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.8

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Macquarie

28/04/2025

1

Outperform

$94.00

14.58%

Newmont Corp's 1Q25 update beat Macquarie's forecast on gold production by 6%, costs by 12% and underlying EBITDA by 18%. Costs are, however, expected to peak in 2Q due to a push back from 1Q spend.

Net debt was lower than expected due to stronger free cash flow, and the broker notes the company's commentary suggested potential for more share buybacks on the gold price-related strong cash flow trend.

EPS forecast for FY25 lifted by 1% on strong 1Q result, partly offset by higher costs forecast for 2Q.

Outperform. Target price $94.

FORECAST
Macquarie forecasts a full year FY25 dividend of 154.04 cents and EPS of 552.99 cents.
Macquarie forecasts a full year FY26 dividend of 154.04 cents and EPS of 417.44 cents.

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Goldman Sachs

13/05/2025

1

Buy

$93.40

13.85%

Goldman Sachs maintains a Buy rating on Newmont Corp with a price target of $93.40. The broker considers the stock as undervalued relative to peers.

Joint venture performance at Nevada Gold Mines and Pueblo Viejo came in broadly in line with the broker's expectations for 1Q 2025. The analyst believes there is upside value to the Fruta del Norte stake. 

Management guided to 2025 group production of 5.6Moz with tier-1 assets contributing over 5.5Moz and all-in-sustaining-costs (AISC) expected to average US$1,575/oz.

Commentary highlights Newmont has US$6bn in liquidity, supported by net debt of US$3.2bn and limited repayments in the next three to five years, enabling capital returns including US$0.75bn in buybacks year-to-date.

Goldman Sachs expects Newmont to remain the more defensive large-cap gold exposure among Australian-listed peers.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 154.04 cents and EPS of 754.77 cents.
Goldman Sachs forecasts a full year FY26 dividend of 154.04 cents and EPS of 865.68 cents.
Access Extra Coverage Research History >

NEM STOCK CHART

FNArena News on NEM

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Rudi’s View: The Contrarians’ View

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5
Australian Broker Call *Extra* Edition – May 13, 2025

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