Renaissance Technologies LLC Buys New Shares in Newmont Corporation $NEM

Renaissance Technologies LLC purchased a new position in shares of Newmont Corporation (NYSE:NEM) in the first quarter, according to its most recent filing with the SEC. The firm purchased 1,671,568 shares of the basic materials company’s stock, valued at approximately $180,947,000.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new position in Newmont in the fourth quarter valued at approximately $1,443,128,000. Van ECK Associates Corp boosted its position in shares of Newmont by 23.4% during the 4th quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock worth $2,973,539,000 after purchasing an additional 5,643,496 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Newmont by 110.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,743,228 shares of the basic materials company’s stock worth $873,011,000 after purchasing an additional 4,588,018 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Newmont by 82.5% in the 4th quarter. AQR Capital Management LLC now owns 7,402,278 shares of the basic materials company’s stock valued at $739,117,000 after buying an additional 3,345,543 shares during the period. Finally, Assetmark Inc. grew its position in Newmont by 398.3% in the 4th quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock valued at $286,619,000 after purchasing an additional 2,294,396 shares during the period. 68.85% of the stock is owned by institutional investors.

Newmont Stock Performance

Shares of NEM stock opened at $93.16 on Friday. The firm has a market cap of $99.45 billion, a price-to-earnings ratio of 11.76, a P/E/G ratio of 1.13 and a beta of 0.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. Newmont Corporation has a 52 week low of $61.76 and a 52 week high of $134.88. The firm’s 50-day simple moving average is $99.93 and its two-hundred day simple moving average is $109.95.

Newmont (NYSE:NEM) last released its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.36%. The firm had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.35 billion. During the same period in the prior year, the firm earned $1.43 EPS. As a group, equities analysts forecast that Newmont Corporation will post 8.9 earnings per share for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, September 3rd. Newmont’s dividend payout ratio (DPR) is currently 13.49%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NEM. Barclays decreased their price target on shares of Newmont from $133.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Scotiabank dropped their price objective on shares of Newmont from $151.00 to $147.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Argus boosted their target price on shares of Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. UBS Group lowered their target price 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. Finally, The Goldman Sachs Group dropped their price target on shares of Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $136.26.

Insider Transactions at Newmont

In other news, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the completion of the transaction, the chief executive officer owned 142,999 shares in the company, valued at approximately $15,060,654.68. This represents a 2.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of Newmont stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $1,473,051.58. Following the completion of the sale, the executive vice president directly owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. This trade represents a 16.47% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 28,556 shares of company stock valued at $3,058,146. Corporate insiders own 0.06% of the company’s stock.

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont beat Q2 adjusted earnings estimates, reporting $2.10 per share versus $2.05 expected, and delivered record second-quarter free cash flow of about $2.2 billion. Article Title
• Positive Sentiment: Management reaffirmed 2026 guidance and emphasized strong production, cash generation, and capital returns, which supports confidence in the company’s operating outlook. Article Title
• Positive Sentiment: Newmont declared a quarterly dividend of $0.26 per share, reinforcing its appeal as a cash-return story for income-focused investors.
• Positive Sentiment: Several analysts and market commentaries pointed to a stronger balance sheet, robust free cash flow, and aggressive buybacks as reasons to remain constructive on the shares. Article Title
• Neutral Sentiment: Revenue came in below Wall Street estimates at $6.12 billion versus $6.36 billion expected, reflecting lower volumes even as realized gold prices helped earnings.
• Neutral Sentiment: Newmont also outlined a Lihir nearshore barrier project that could unlock more than 5 million ounces starting in 2028, a longer-term growth catalyst rather than an immediate driver. Article Title
• Negative Sentiment: Some commentary flagged lower gold prices and a bearish technical setup as headwinds that may be limiting near-term upside despite the earnings beat. Article Title

Newmont Company Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long?lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.