Is Wall Street Bullish or Bearish on Newmont Stock?

Core Viewpoint - Newmont Corporation (NEM) has significantly outperformed the broader market and is experiencing strong growth in earnings potential due to rising gold prices. Group 1: Company Overview - Newmont Corporation is a gold mining company based in Denver, Colorado, with a market capitalization of $144 billion, primarily focused on gold production and also involved in copper, silver, zinc, and lead as by-products [1]. Group 2: Stock Performance - Over the past 52 weeks, NEM shares have increased by 219.1%, while the S&P 500 Index has only gained 15%. Year-to-date, NEM is up 32.2%, compared to the S&P 500's 1.9% return [2]. - NEM has outperformed the VanEck Gold Miners ETF (GDX), which rose 197.5% over the past 52 weeks and 30.8% year-to-date [3]. Group 3: Market Reaction and Earnings Potential - On January 28, NEM shares rose by 3.9% as gold prices surged over 3% to a new all-time high, enhancing investor optimism regarding the miners' earnings potential, cash flows, and margins [4]. - For the current fiscal year ending in December, analysts project NEM's earnings per share (EPS) to grow by 81.9% year-over-year to $6.33, with a strong earnings surprise history [5]. Group 4: Analyst Ratings and Price Targets - Among 23 analysts covering NEM, the consensus rating is a "Strong Buy," with 17 "Strong Buy," two "Moderate Buy," and four "Hold" ratings [5]. - The Bank of Nova Scotia has maintained an "Outperform" rating on NEM and raised its price target to $152, indicating a potential upside of 15.2% from current levels, while the stock is trading above its mean price target of $119.83 [6].