Highlights

  • Raymond James lifted Newmont’s price target to USD 130 from USD 111
  • Jefferies raised Nucor’s target price to USD 200 from USD 190
  • Both stocks traded higher following the revised outlooks

Two large-cap basic materials companies, Newmont Corporation (NYSE:NEM) and Nucor Corporation (NYSE:NUE), came into focus this week after separate analyst teams raised their price targets, according to MarketScreener reports. The revisions highlighted updated expectations for the companies, placing renewed emphasis on near-term price levels and recent operating performance.

Newmont Shares Hold Near Highs After Target Increase

Raymond James Financial lifted its price target on Newmont from USD 111.00 to USD 130.00 in a research report issued on Thursday, while maintaining an “outperform” rating on the stock. Based on the firm’s assessment, the revised target represents a potential upside of 13.87% from the stock’s prevailing price at the time of the report.

Newmont shares traded modestly higher during mid-day trading on Thursday, rising USD 0.02 to USD 114.17. Trading volume reached approximately 8.66 million shares, broadly in line with the company’s average daily volume of about 8.51 million shares.

The stock has traded within a 52-week range of USD 40.85 to USD 115.70, and is currently positioned near the upper end of that range. Newmont’s 50-day moving average stands at USD 96.33, while its 200-day moving average is USD 81.90. The company carries a market capitalisation of USD 124.59 billion, with a price-to-earnings ratio of 17.73 and a beta of 0.41.

Nucor Target Lift Follows Earnings Beat

Separately, Jefferies Financial Group raised its price target on Nucor from USD 190.00 to USD 200.00, while maintaining a “buy” rating. The revised target implies a potential upside of 14.45% from the stock’s previous closing price.

Nucor shares traded higher on the day, last quoted at USD 174.79, up USD 2.50, or 1.45%. The target revision followed the company’s most recent earnings release, reported on October 27, where Nucor posted earnings per share of USD 2.63, exceeding the consensus estimate of USD 2.30.

Quarterly revenue totaled USD 8.52 billion, compared with expectations of USD 8.27 billion, reflecting 14.5% year-over-year growth. During the quarter, Nucor reported a net margin of 5.18% and a return on equity of 7.80%. The company has set its Q4 2025 guidance at -2.630 EPS, while sell-side analysts, on average, expect full-year EPS of 7.64.

Company Profiles in Brief

Newmont is a global gold mining company with operations spanning exploration, development, production, and reclamation across long-lived mining assets. Founded in 1921, the company operates throughout the full mine life cycle.

Nucor is a U.S.-based steel producer headquartered in North Carolina, operating a network of steel mills and recycling facilities. Its operations center on electric arc furnace steelmaking using recycled scrap metal.

Together, the latest analyst actions have placed both Newmont and Nucor under closer market scrutiny, with revised price targets shaping near-term expectations around their share prices.