- Newmont Corporation (NEM, Financial) exceeded its 2024 production goals, delivering 6.8 million ounces of gold.
- Analysts project a potential price increase for NEM, with an average target price suggesting nearly 9% upside.
- GuruFocus estimates present a more cautious view, predicting an 11.98% downside based on GF Value.
Newmont Corporation (NEM) has demonstrated remarkable resilience and operational efficiency in 2024, surpassing its ambitious production targets. The mining giant produced an impressive 6.8 million ounces of gold, significantly contributing to a robust $2.9 billion in free cash flow. Looking ahead, Newmont aims to sustain an average annual output of 6 million ounces over the next ten years, underlining its commitment to long-term value creation for its shareholders.
Wall Street Analysts Forecast for Newmont Corp
In the realm of Wall Street projections, 18 analysts have delivered their insights on Newmont, establishing an average price target of $60.02. This target reflects a potential upside of 8.97% from the current stock price of $55.08. The projections range with a high of $77.50 and a low of $52.00, capturing a spectrum of market expectations. For investors seeking further information, the Newmont Corp (NEM, Financial) Forecast page offers detailed data.
Twenty brokerage firms have weighed in with their perspectives, assigning Newmont Corp an average recommendation rating of 2.0, categorized as "Outperform." This rating indicates solid confidence in the company's trajectory, with the scale ranging from 1 (Strong Buy) to 5 (Sell).
GuruFocus Estimates: A Cautious Perspective
In contrast to the bullish analyst sentiments, GuruFocus presents a more conservative appraisal through its GF Value metric. The estimated GF Value for Newmont Corp in one year is calculated at $48.48. This suggests a potential downside of 11.98% from the current price of $55.08. The GF Value reflects GuruFocus' comprehensive assessment based on historical stock multiples, past business growth, and future performance estimates. Investors can explore more detailed insights on the Newmont Corp (NEM, Financial) Summary page.
