Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Newmont Corporation (NYSE:NEM – Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 607,492 shares of the basic materials company’s stock, valued at approximately $56,740,000.
A number of other hedge funds have also recently added to or reduced their stakes in NEM. Leonteq Securities AG acquired a new stake in Newmont during the 4th quarter worth $9,018,000. ARS Investment Partners LLC raised its position in shares of Newmont by 3.6% during the 4th quarter. ARS Investment Partners LLC now owns 697,063 shares of the basic materials company’s stock valued at $69,602,000 after acquiring an additional 23,900 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Newmont in the 2nd quarter valued at $36,180,000. Private Advisory Group LLC acquired a new position in shares of Newmont in the 2nd quarter valued at $10,430,000. Finally, Thrivent Financial for Lutherans boosted its position in shares of Newmont by 37.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 214,282 shares of the basic materials company’s stock worth $21,440,000 after purchasing an additional 58,690 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.
Key Headlines Impacting Newmont
Here are the key news stories impacting Newmont this week:
- Positive Sentiment: Gold reached record levels. Spot gold traded above $4,500 an ounce and was on track for a third consecutive weekly gain. A softer U.S. dollar, bond-market volatility and inflation concerns increased demand for gold as a safe-haven asset, improving the potential revenue and cash-flow outlook for Newmont. Why Is Newmont Stock Surging Friday?
- Positive Sentiment: Strong operating performance and capital returns supported sentiment. Newmont reported record second-quarter free cash flow of $2.2 billion and operating cash flow of $2.9 billion, remains on track to produce 5.3 million attributable gold ounces in 2026, and has returned approximately $1.9 billion through dividends and share repurchases since its prior earnings report.
- Positive Sentiment: Scotiabank raised its earnings forecast. The firm increased its FY2026 EPS estimate to $8.96 from $8.83, maintained an “Outperform” rating and set a $149 price target. The median target among 10 analysts is reported at $145.50, suggesting analysts generally see additional upside.
- Neutral Sentiment: Newmont appointed Peter Beaven as an independent director. Effective September 1, Beaven is expected to join the Audit Committee, adding finance and global mining experience. The appointment is strategically supportive but is unlikely to materially change near-term earnings. Newmont Appoints Peter Beaven to Board of Directors
- Neutral Sentiment: Newmont agreed to sell a Nevada gold project to StrikePoint for $70 million. The transaction may help streamline the portfolio and monetize a noncore asset, although the immediate earnings impact was not provided. StrikePoint to Buy Nevada Gold Project from Newmont
- Negative Sentiment: Reported insider trading was a potential cautionary signal. Company insiders recorded 15 open-market sales and no purchases during the past six months, though such transactions may reflect compensation or personal financial planning rather than a view on Newmont’s business.
Newmont Price Performance
Newmont (NYSE:NEM – Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping the consensus estimate of $2.05 by $0.05. The business had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same quarter last year, the business posted $1.43 EPS. On average, equities research analysts forecast that Newmont Corporation will post 9.01 earnings per share for the current year.
Newmont Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, September 3rd. Newmont’s dividend payout ratio is 13.13%.
Insider Transactions at Newmont
In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $93.45, for a total value of $280,350.00. Following the completion of the transaction, the executive vice president directly owned 40,315 shares in the company, valued at approximately $3,767,436.75. The trade was a 6.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total value of $1,202,755.05. Following the sale, the chief financial officer directly owned 29,324 shares of the company’s stock, valued at approximately $3,081,659.16. The trade was a 28.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 32,091 shares of company stock valued at $3,292,513 over the last 90 days. 0.06% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of brokerages recently commented on NEM. Citigroup decreased their price objective on Newmont from $150.00 to $125.00 and set a “buy” rating for the company in a research note on Monday, July 20th. TD raised their target price on Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Scotiabank boosted their target price on Newmont from $147.00 to $149.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. TD Cowen restated a “buy” rating on shares of Newmont in a research report on Monday, April 27th. Finally, National Bank Financial lowered their price target on Newmont from $140.00 to $125.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $132.59.
Check Out Our Latest Report on NEM
Newmont Profile
Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.
Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.
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