Chicago Partners Investment Group LLC bought a new position in shares of Newmont Corporation (NYSE:NEM – Free Report) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 21,499 shares of the basic materials company’s stock, valued at approximately $2,341,000.
Several other large investors have also recently added to or reduced their stakes in NEM. BlackRock Inc. acquired a new stake in shares of Newmont in the second quarter valued at $11,289,753,000. Van ECK Associates Corp acquired a new position in shares of Newmont in the 2nd quarter valued at $671,197,000. Bank of New York Mellon Corp bought a new position in shares of Newmont in the 2nd quarter worth $1,219,505,000. First Eagle Investment Management LLC bought a new position in shares of Newmont in the 2nd quarter worth $241,820,000. Finally, Amundi acquired a new stake in shares of Newmont during the second quarter worth $209,411,000. 68.85% of the stock is owned by institutional investors.
Analysts Set New Price Targets
NEM has been the subject of a number of recent analyst reports. Royal Bank Of Canada upped their price objective on Newmont from $135.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. Weiss Ratings upgraded Newmont from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 16th. National Bank Financial decreased their target price on Newmont from $140.00 to $135.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 20th. Raymond James Financial reaffirmed an “outperform” rating and issued a $140.00 price target (up from $131.00) on shares of Newmont in a research note on Monday, August 24th. Finally, TD increased their price target on shares of Newmont from $127.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $137.20.
Check Out Our Latest Analysis on Newmont
Key Newmont News
Here are the key news stories impacting Newmont this week:
- Positive Sentiment: Citi assigned Newmont a Buy rating, a potentially supportive analyst endorsement. The report provided no price target or detailed rationale. Newmont receives a Buy from Citi
- Positive Sentiment: A recent Q3 update cited stronger sales and net income, lower reported costs, and upgraded full-year production guidance—fundamental factors that may support investor optimism. Newmont outlook after stronger Q3 earnings and higher guidance
- Positive Sentiment: Zacks Research raised its FY2028 EPS estimate to $11.38 from $10.81, suggesting improved longer-term earnings expectations, while retaining a Hold rating.
- Neutral Sentiment: Zacks Research made a mixed set of estimate changes: it lowered its FY2027 EPS forecast to $8.89 from $9.26 and cut several quarterly estimates, but raised some 2028 quarterly forecasts. This mixed revision offers no clear near-term earnings signal.
- Negative Sentiment: A report notes Newmont shares moved above their 200-day moving average while also flagging insider selling. The technical breakout is constructive, but insider sales may concern investors; the available report does not specify the size or context of the sales. Newmont shares break above 200-day average amid insider selling
Newmont Price Performance
NEM stock opened at $120.82 on Friday. The stock has a 50-day moving average price of $118.87 and a two-hundred day moving average price of $112.48. Newmont Corporation has a 1 year low of $81.34 and a 1 year high of $135.29. The stock has a market cap of $125.55 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 1.99 and a beta of 0.56. The company has a current ratio of 2.45, a quick ratio of 2.16 and a debt-to-equity ratio of 0.15.
Newmont (NYSE:NEM – Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.26. The firm had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $6.27 billion. Newmont had a return on equity of 29.81% and a net margin of 34.73%. The business’s revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.71 EPS. Equities analysts forecast that Newmont Corporation will post 9.14 EPS for the current fiscal year.
Newmont Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Stockholders of record on Wednesday, November 25th will be given 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 payout ratio is currently 12.09%.
Insiders Place Their Bets
In related news, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $108.04, for a total transaction of $419,411.28. Following the completion of the transaction, the chief executive officer owned 101,691 shares in the company, valued at approximately $10,986,695.64. This represents a 3.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $108.04, for a total transaction of $324,120.00. Following the completion of the transaction, the executive vice president directly owned 31,315 shares of the company’s stock, valued at approximately $3,383,272.60. This trade represents a 8.74% 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. In the last three months, insiders sold 20,646 shares of company stock worth $2,380,140. 0.06% of the stock is currently owned by insiders.
Newmont Company Profile
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