Lee Financial Co Acquires 35,535 Shares of Newmont Corporation $NEM

Lee Financial Co bought a new position in Newmont Corporation (NYSE:NEM) in the third quarter, Holdings Channel reports. The firm bought 35,535 shares of the basic materials company’s stock, valued at approximately $4,099,000. Newmont makes up about 0.5% of Lee Financial Co’s investment portfolio, making the stock its 22nd largest position.

A number of other large investors have also bought and sold shares of the company. Frank Rimerman Advisors LLC purchased a new position in shares of Newmont during the 3rd quarter valued at $962,000. Encompass More Asset Management bought a new stake in Newmont in the 3rd quarter valued at about $232,000. Bay Capital Advisors LLC bought a new stake in Newmont in the 3rd quarter valued at about $693,000. Alpine Bank Wealth Management bought a new stake in Newmont in the 3rd quarter valued at about $42,000. Finally, Penbrook Management LLC bought a new stake in Newmont in the 3rd quarter valued at about $205,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Gold prices recently rose more than 1% as the U.S. dollar weakened and Treasury yields eased, improving the outlook for gold miners’ revenue and margins. Newmont is also benefiting from strong prior-quarter free cash flow, share repurchases and its ability to remain on track with 2026 guidance. Newmont rises as gold strengthens and investors look ahead to earnings
• Positive Sentiment: Analyst sentiment has improved. Bernstein raised its Newmont price target to $150 from $144, while the broader consensus target was reported at CHF 121.57, up 10.84%. Jefferies also reaffirmed a Buy rating, reinforcing expectations for further upside if gold remains strong. Bernstein Adjusts Price Target on Newmont Newmont consensus price target raised
• Positive Sentiment: Investors are positioning ahead of Newmont’s October 22 third-quarter earnings release. Wall Street expects earnings growth, helped by higher gold prices and potentially improved margins, while the company’s previous quarter showed strong cash generation and production execution. Newmont Corporation reports next week
• Neutral Sentiment: Newmont completed the sale of its Northumberland asset. The transaction may simplify the portfolio and support capital allocation, but the immediate earnings impact was not specified. Newmont completes Northumberland sale
• Negative Sentiment: Earnings expectations are mixed: higher gold prices could be offset by weaker production and higher costs, making the October 22 report a key near-term catalyst and volatility risk. NEM to Report Q3 Earnings
• Negative Sentiment: Insider-trading data shows 13 open-market sales and no purchases over the past six months, including sales by senior executives. This may weigh on sentiment, although insider transactions do not necessarily reflect company fundamentals.

Newmont Price Performance

Shares of NYSE NEM opened at $118.40 on Friday. The stock has a market cap of $124.76 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 2.20 and a beta of 0.51. Newmont Corporation has a fifty-two week low of $76.05 and a fifty-two week high of $135.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The stock has a fifty day moving average of $122.06 and a 200-day moving average of $110.84.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%. The company had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same period in the previous year, the company posted $1.43 EPS. Equities research analysts anticipate that Newmont Corporation will post 9.05 earnings per share for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd were paid a $0.26 dividend. The ex-dividend date was Thursday, September 3rd. This represents a $1.04 annualized dividend and a yield of 0.9%. Newmont’s dividend payout ratio (DPR) is currently 13.13%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. UBS Group dropped their price objective on shares of Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Citigroup reduced their target price on shares of Newmont from $150.00 to $125.00 and set a “buy” rating for the company in a research note on Monday, July 20th. Raymond James Financial reissued an “outperform” rating and issued a $140.00 price target on shares of Newmont in a research report on Monday, August 24th. BMO Capital Markets upped their price target on shares of Newmont from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, September 29th. Finally, Barclays dropped their price target on shares of Newmont from $125.00 to $124.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $133.50.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $114.81, for a total transaction of $344,430.00. Following the sale, the executive vice president directly owned 34,315 shares in the company, valued at $3,939,705.15. This represents a 8.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 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 dated Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the sale, the chief financial officer directly owned 29,324 shares in the company, 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 sold a total of 35,973 shares of company stock worth $3,927,169 in the last quarter. 0.06% of the stock is owned by company insiders.

Newmont Company Profile

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.