United Advisor Group LLC purchased a new stake in shares of Newmont Corporation (NYSE:NEM – Free Report) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 10,703 shares of the basic materials company’s stock, valued at approximately $1,234,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of NEM. Hourglass Capital LLC bought a new position in Newmont during the 3rd quarter valued at about $13,066,000. Hennessy Advisors Inc. purchased a new stake in shares of Newmont during the 3rd quarter valued at about $2,491,000. FARMERS & MERCHANTS TRUST Co OF LONG BEACH bought a new stake in shares of Newmont in the third quarter worth approximately $814,000. Greenleaf Trust bought a new stake in shares of Newmont in the third quarter worth approximately $3,043,000. Finally, BOCHK Asset Management Ltd purchased a new position in shares of Newmont during the third quarter valued at approximately $3,068,000. 68.85% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
NEM has been the topic of a number of research analyst reports. TD increased their price objective 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. Scotiabank dropped their target price on shares of Newmont from $149.00 to $148.00 and set an “outperform” rating on the stock in a report on Tuesday, October 27th. The Goldman Sachs Group cut their target price on shares of Newmont from $127.50 to $119.00 in a research report on Thursday, October 8th. TD Securities raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Finally, Jefferies Financial Group raised their price target on Newmont from $146.00 to $155.00 in a research note on Friday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $137.20.
Check Out Our Latest Report on Newmont
Insider Buying and Selling
In other Newmont news, CEO Natascha Viljoen sold 3,882 shares of the firm’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 transaction of $477,486.00. Following the sale, the chief executive officer owned 131,353 shares in the company, valued at approximately $16,156,419. This trade represents a 2.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of Newmont 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 transaction, the executive vice president directly owned 31,315 shares in the company, valued at $3,383,272.60. This represents a 8.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 20,646 shares of company stock valued at $2,380,140. 0.06% of the stock is currently owned by corporate insiders.
More 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 guidanceāfundamental 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
NYSE NEM opened at $120.82 on Friday. The business’s fifty day moving average is $118.87 and its 200 day moving average is $112.48. Newmont Corporation has a fifty-two week low of $81.34 and a fifty-two week high of $135.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.16 and a current ratio of 2.45. The company has a market capitalization of $125.55 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 2.20 and a beta of 0.56.
Newmont (NYSE:NEM – Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The basic materials company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.26. The business had revenue of $6.36 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Newmont had a return on equity of 29.81% and a net margin of 34.73%. The business’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.71 earnings per share. Sell-side analysts predict that Newmont Corporation will post 9.14 earnings per share for the current year.
Newmont Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Wednesday, November 25th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, November 25th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. Newmont’s payout ratio is 12.09%.
About Newmont
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