With a market cap of $50.7 billion, Newmont Corporation (NEM) engages in the production and exploration of gold properties. The Denver, Colorado-based company also explores copper, silver, zinc, lead, and other metals in the United States, Canada, Mexico, Peru, Suriname, etc.
The gold miner is expected to release its Q1 2025 earnings after the market closes on Wednesday, Apr. 23. Ahead of this event, analysts project NEM to report a non-GAAP profit of $0.74 per share, representing a growth of 34.6% from $0.55 per share in the year-ago quarter. The company has surpassed Wall Street's bottom-line estimates in three of the past four quarters while missing on another occasion.
For fiscal 2025, analysts forecast Newmont to report non-GAAP EPS of $3.60, up 3.5% from $3.48 in fiscal 2024. However, its earnings are anticipated to decline marginally to $3.57 per share in fiscal 2026.
Shares of NEM have surged 22.9% over the past 52 weeks, significantly outperforming the S&P 500 Index's ($SPX) 4.7% gain and the Materials Select Sector SPDR Fund’s (XLB) 13.2% drop during the same time frame.
Despite surpassing Street's expectations, Newmont’s stock dropped 5.7% in the trading session after the release of its Q4 results on Feb. 20. The company reported a significant 204.3% year-over-year surge in adjusted EPS to $1.40, exceeding the consensus estimates by a staggering 47.4%. Moreover, its revenue advanced 42.8% year-over-year to $5.7 billion, surpassing the Street expectations by 6%. Newmont’s strong performance was primarily driven by increased gold production and higher price realization.
Analysts' consensus view on NEM stock is moderately optimistic, with a "Moderate Buy" rating overall. Out of 18 analysts covering the stock, opinions include nine "Strong Buys," one "Moderate Buy," seven "Holds," and one "Moderate Sell." Its mean price target of $56.90 suggests a 16.7% upside potential from current price levels.
