Kornitzer Capital Management Inc. KS Makes New $30.16 Million Investment in Newmont Corporation $NEM

Kornitzer Capital Management Inc. KS bought a new position in Newmont Corporation (NYSE:NEM) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 261,470 shares of the basic materials company’s stock, valued at approximately $30,158,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Accel Wealth Management boosted its holdings in shares of Newmont by 0.8% during the second quarter. Accel Wealth Management now owns 14,744 shares of the basic materials company’s stock valued at $1,377,000 after acquiring an additional 115 shares during the period. Compound Planning Inc. grew its position in shares of Newmont by 0.6% during the first quarter. Compound Planning Inc. now owns 21,192 shares of the basic materials company’s stock worth $2,294,000 after acquiring an additional 121 shares during the last quarter. Center for Financial Planning Inc. increased its holdings in shares of Newmont by 6.7% in the 3rd quarter. Center for Financial Planning Inc. now owns 1,921 shares of the basic materials company’s stock worth $222,000 after acquiring an additional 121 shares during the period. Zhang Financial LLC increased its holdings in shares of Newmont by 0.8% in the 1st quarter. Zhang Financial LLC now owns 15,768 shares of the basic materials company’s stock worth $1,707,000 after acquiring an additional 124 shares during the period. Finally, Heartland Bank & Trust Co increased its holdings in shares of Newmont by 3.0% in the 1st quarter. Heartland Bank & Trust Co now owns 4,331 shares of the basic materials company’s stock worth $469,000 after acquiring an additional 127 shares during the period. 68.85% of the stock is currently owned by institutional investors.

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

Newmont Trading Up 0.9%

NYSE:NEM opened at $120.82 on Friday. The stock has a market cap of $125.55 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 2.20 and a beta of 0.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.16 and a current ratio of 2.45. Newmont Corporation has a 1 year low of $81.34 and a 1 year high of $135.29. The business has a fifty day moving average of $118.87 and a 200-day moving average of $112.48.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.26. Newmont had a net margin of 34.73% and a return on equity of 29.81%. The business had revenue of $6.36 billion for the quarter, compared to analysts’ expectations of $6.27 billion. During the same period in the previous year, the business earned $1.71 earnings per share. The company’s revenue was up 15.2% on a year-over-year basis. Equities analysts predict that Newmont Corporation will post 9.14 earnings per share for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Wednesday, November 25th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, November 25th. This represents a $1.04 annualized dividend and a yield of 0.9%. Newmont’s dividend payout ratio (DPR) is presently 12.09%.

Analyst Ratings Changes

NEM has been the topic of several recent research reports. Raymond James Financial reiterated an “outperform” rating and issued a $140.00 price objective (up from $131.00) on shares of Newmont in a research report on Monday, August 24th. Freedom Broker cut shares of Newmont from a “buy” rating to a “hold” rating and decreased their target price for the stock from $130.00 to $116.00 in a research report on Thursday, October 22nd. Argus set a $110.00 price target on shares of Newmont and gave the company a “buy” rating in a research note on Monday, August 3rd. Jefferies Financial Group lifted their price target on Newmont from $146.00 to $155.00 in a report on Friday, October 9th. Finally, Canaccord Genuity Group cut their price target on Newmont from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.20.

Insider Activity

In other news, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $123.00, for a total value of $477,486.00. Following the completion of the sale, the chief executive officer directly owned 131,353 shares of the company’s stock, valued at approximately $16,156,419. This represents a 2.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred 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 owned 31,315 shares of the company’s stock, valued at $3,383,272.60. This trade represents a 8.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 20,646 shares of company stock worth $2,380,140. 0.06% of the stock is owned by corporate insiders.

Newmont Profile