Scotiabank Cuts Newmont (NEM) Price Target to $148

On October 27, 2026, Scotiabank lowered its price target for Newmont Corporation (NEM) to $148 from a previous target of $149. This adjustment comes as part of their ongoing analysis of the gold producer's market position. Scotiabank maintains a Sector Outperform rating on the stock, indicating they expect it to perform better than the overall market in the Basic Materials sector.

NEM Newmont Corporation

$110.39 ▲ +9.76% year to date

1M 3M YTD

Daily close · Oct 26, 2026

Other Institutional Activity in Newmont

Several other funds have recently adjusted their positions in Newmont. RMR Wealth Builders increased its holdings by 7,154 shares, bringing its total to 40,792 shares valued at about $4.7 million. Conversely, Ag2R la Mondiale Gestion D'Actifs cut its stake by 65,672 shares, leaving it with 49,542 shares worth approximately $5.7 million. Van Eck Associates Corporation reduced its holdings by 3,884,291 shares, ending with 32,114,698 shares valued at around $3.5 billion. Meanwhile, Bank Of New York Mellon Corporation grew its stake by 818,727 shares, totaling 13,056,801 shares worth about $1.4 billion.

Newmont Corporation Stock Up 3.2%

Newmont's shares recently traded around $112.3, which is about equal to the closing price of $112.27 on October 27, 2026. The stock is currently below its 50-day moving average by 7.6% and significantly below its 52-week high of $135.29, down about 17%. The shares are, however, above their 52-week low of $76.05, reflecting a 47.7% increase from that level.

Recent Earnings

Newmont reported trailing twelve-month revenue of about $26.6 billion and earnings per share (EPS) of $8.62. The company has demonstrated strong financial performance with a net margin of 34.7% and a return on equity (ROE) of 27.3%. The next earnings report is scheduled for February 18, 2027, which will provide further insights into the company’s performance.

Dividend

Newmont Corporation pays an annual dividend of $1.04 per share, translating to a dividend yield of approximately 0.94%. The payout ratio stands at 11.9%, indicating a sustainable approach to returning value to shareholders.

Insider Buying and Selling at Newmont Corporation

Recent insider transactions at Newmont include Chief Executive Officer Natascha Viljoen selling 7,764 shares at an average price of $104.00 on August 5, 2026, totaling about $807,456. Chief Financial Officer Brian Tabolt also sold 11,445 shares at an average price of $105.09 on the same date, amounting to approximately $1.2 million. On September 1, 2026, Viljoen sold an additional 3,882 shares at $123.00, valued at $477,486, while officer Peter Toth sold 3,000 shares at the same price, totaling around $369,000.

Analysts Set New Price Targets

On October 27, 2026, Scotiabank maintained its Sector Outperform rating on Newmont with a price target of $148, down from $149. Earlier, on October 22, Freedom Broker downgraded its rating on Newmont to Hold with a target of $116, while Citigroup raised its target to $140 from $125. The consensus among analysts suggests a mean price target of approximately $135.65, reflecting a bullish outlook despite recent adjustments.

About Newmont

Newmont Corporation is a leading gold producer that also explores for other metals like copper and silver. The company operates in various countries, including the United States, Australia, and Ghana. Founded in 1916 and headquartered in Denver, Colorado, Newmont has a robust presence in the mining industry, making it a significant player in the Basic Materials sector.

Bottom Line

Investors should keep an eye on Newmont’s upcoming earnings report on February 18, 2027, for further insights into its performance. With recent analyst target adjustments and insider trading activity, the stock's movements will be closely watched in the coming weeks.