Simplicity Wealth LLC purchased a new position in Newmont Corporation (NYSE:NEM – Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 15,547 shares of the basic materials company’s stock, valued at approximately $1,793,000.
A number of other institutional investors have also recently made changes to their positions in the company. FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new position in shares of Newmont in the 3rd quarter valued at $814,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Newmont during the second quarter worth $36,180,000. Asset One Wealth Management LLC purchased a new stake in Newmont during the 2nd quarter worth about $2,866,000. Private Advisory Group LLC acquired a new stake in Newmont in the second quarter valued at approximately $10,430,000. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of Newmont in the 3rd quarter valued at $1,769,000. 68.85% of the stock is owned by institutional investors and hedge funds.
Key Headlines Impacting Newmont
Here are the key news stories impacting Newmont this week:
- Positive Sentiment: Newmont reported record third-quarter adjusted earnings of $2.20 per share, beating the $1.94 consensus estimate, while revenue increased 15.2% year over year to $6.36 billion. Strong gold prices near $4,000, improved cost guidance, free cash flow, share buybacks and dividends support the bullish case. Newmont’s Record Quarter Shows Why Gold’s Floor Is the Real Story
- Positive Sentiment: Bank of America reaffirmed its Buy rating, and other analysts remain constructive on Newmont and the materials sector. Longer-term projects, including Fourmile and the Red Chris Block Cave upgrade, could expand the portfolio and lower costs after 2030. Bank of America Reaffirms Buy Rating
- Neutral Sentiment: Investor interest has increased, with Newmont appearing among the stocks most watched by Zacks users. That attention reflects the company’s earnings momentum and gold exposure but is not, by itself, a fundamental catalyst. Newmont Attracting Investor Attention
- Negative Sentiment: Macquarie lowered its price target to $128 from $134, while Morgans Financial downgraded the shares to Accumulate and reduced its target to AU$177. These actions may weigh on sentiment despite continued analyst support. Macquarie Adjusts Newmont Price Target
- Negative Sentiment: Cost pressures remain a key risk. Inflation, higher oil and energy prices, and Ghana’s increased royalty burden could extend cost growth into 2027, potentially limiting margin expansion even if gold prices remain strong. Newmont Nevada NAV Climbs but Cost Creep Continues
Insider Transactions at Newmont
In related news, CFO Brian Tabolt sold 11,445 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer owned 29,324 shares in the company, valued at $3,081,659.16. The trade was a 28.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Natascha Viljoen sold 3,882 shares of the business’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $114.81, for a total value of $445,692.42. Following the completion of the transaction, the chief executive officer owned 127,471 shares in the company, valued at $14,634,945.51. This trade represents a 2.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 35,973 shares of company stock worth $3,927,169. Company insiders own 0.06% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on NEM. RBC Dominion Securities set a $155.00 price target on Newmont and gave the company an “outperform” rating in a report on Thursday, October 22nd. TD Cowen reduced their price objective on shares of Newmont from $133.00 to $131.00 in a research report on Tuesday, October 20th. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Weiss Ratings raised shares of Newmont from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 16th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $140.00 target price (up from $131.00) on shares of Newmont in a research report on Monday, August 24th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and an average price target of $137.25.
Read Our Latest Report on Newmont
Newmont Stock Up 1.3%
NEM stock opened at $110.33 on Tuesday. The company has a market cap of $116.26 billion, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 2.01 and a beta of 0.51. The company has a fifty day moving average price of $121.66 and a 200 day moving average price of $112.44. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.45 and a quick ratio of 2.16. Newmont Corporation has a 12 month low of $76.05 and a 12 month high of $135.29.
Newmont (NYSE:NEM – Get Free Report) last issued its quarterly earnings data on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.26. The company had revenue of $6.36 billion for the quarter, compared to the consensus estimate of $6.27 billion. Newmont had a net margin of 34.73% and a return on equity of 29.81%. Newmont’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period last year, the firm posted $1.71 EPS. Sell-side analysts expect that Newmont Corporation will post 9.07 earnings per share for the current year.
Newmont Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 21st. Stockholders of record on Wednesday, November 25th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, November 25th. Newmont’s dividend payout ratio is presently 12.09%.
About Newmont
Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.
Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.
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