Euro Pacific Asset Management LLC bought a new stake in shares of Newmont Corporation (NYSE:NEM – Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 402,053 shares of the basic materials company’s stock, valued at approximately $46,477,000. Newmont accounts for about 3.2% of Euro Pacific Asset Management LLC’s investment portfolio, making the stock its 10th biggest holding.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Newmont during the second quarter worth $11,289,753,000. State Street Corp raised its stake in Newmont by 3.1% during the second quarter. State Street Corp now owns 52,396,702 shares of the basic materials company’s stock worth $4,893,852,000 after buying an additional 1,565,716 shares during the last quarter. Van ECK Associates Corp bought a new position in Newmont during the second quarter worth $671,197,000. Bank of New York Mellon Corp acquired a new position in Newmont in the second quarter valued at $1,219,505,000. Finally, First Eagle Investment Management LLC acquired a new position in Newmont in the second quarter valued at $241,820,000. Institutional investors and hedge funds own 68.85% of the company’s stock.
Newmont News Summary
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
Insider Buying and Selling at Newmont
In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $108.04, for a total value of $324,120.00. Following the completion of the sale, the executive vice president directly owned 31,315 shares of the company’s stock, valued at approximately $3,383,272.60. The trade was a 8.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $108.04, for a total transaction of $419,411.28. Following the transaction, the chief executive officer owned 101,691 shares in the company, valued at $10,986,695.64. This represents a 3.68% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Over the last ninety days, insiders sold 20,646 shares of company stock valued at $2,380,140. Insiders own 0.06% of the company’s stock.
Newmont Stock Performance
NYSE:NEM opened at $120.82 on Monday. The company has a fifty day moving average of $118.87 and a 200-day moving average of $112.48. The firm has a market capitalization of $125.55 billion, a P/E ratio of 14.05, a P/E/G ratio of 2.20 and a beta of 0.56. The company has a quick ratio of 2.16, a current ratio of 2.45 and a debt-to-equity ratio of 0.15. Newmont Corporation has a twelve month low of $81.34 and a twelve month high of $135.29.
Newmont (NYSE:NEM – Get Free Report) last released its earnings results on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.71 EPS. As a group, sell-side analysts anticipate that Newmont Corporation will post 9.14 EPS for the current year.
Newmont Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Wednesday, November 25th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, November 25th. Newmont’s payout ratio is 12.09%.
Analysts Set New Price Targets
A number of brokerages have commented on NEM. TD upped 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. Royal Bank Of Canada lifted their price objective on Newmont from $135.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 16th. Sanford C. Bernstein boosted their price objective on Newmont from $144.00 to $150.00 in a research note on Friday, October 16th. Canadian Imperial Bank of Commerce set a $154.00 price objective on Newmont in a research note on Friday, October 16th. Finally, Barclays cut their target price on Newmont from $124.00 to $123.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. Two equities research 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 company. According to MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of $137.20.
Read Our Latest Stock Analysis on NEM
Newmont Company Profile
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