194,750 Shares of Newmont Corporation $NEM Purchased by Forest Hill Capital LLC

Key Points

• Forest Hill Capital opened a sizable Newmont position, buying 194,750 shares worth about $22.46 million. The stock represents 15.9% of the fund’s portfolio and is its third-largest holding.
• Newmont reported quarterly earnings of $2.20 per share, beating the $1.94 consensus estimate; revenue rose 15.2% year over year to $6.36 billion.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $137.20. Newmont also declared a quarterly dividend of $0.26 per share.

Forest Hill Capital LLC purchased a new stake in Newmont Corporation (NYSE:NEM - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 194,750 shares of the basic materials company's stock, valued at approximately $22,462,000. Newmont accounts for about 15.9% of Forest Hill Capital LLC's portfolio, making the stock its 3rd largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Newmont in the 2nd quarter valued at approximately $11,289,753,000. Van ECK Associates Corp acquired a new position in shares of Newmont in the second quarter valued at approximately $671,197,000. Bank of New York Mellon Corp purchased a new stake in shares of Newmont during the second quarter worth approximately $1,219,505,000. First Eagle Investment Management LLC purchased a new stake in shares of Newmont during the second quarter worth approximately $241,820,000. Finally, Amundi purchased a new stake in shares of Newmont during the second quarter worth approximately $209,411,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Down 1.3%

Shares of NYSE NEM opened at $118.46 on Thursday. The stock has a market capitalization of $123.10 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 2.17 and a beta of 0.56. Newmont Corporation has a 52 week low of $81.34 and a 52 week high of $135.29. The firm has a 50-day moving average price of $118.61 and a 200 day moving average price of $112.47. 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 (NYSE:NEM - Get Free Report) last issued its earnings results on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.26. Newmont had a net margin of 34.73% and a return on equity of 29.81%. The company had revenue of $6.36 billion for the quarter, compared to analyst estimates of $6.27 billion. During the same period in the prior year, the business posted $1.71 earnings per share. The firm's revenue for the quarter was up 15.2% compared to the same quarter last year. Equities research analysts anticipate that Newmont Corporation will post 9.18 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Stockholders 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 dividend yield of 0.9%. Newmont's payout ratio is 12.09%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. BMO Capital Markets increased their price target on Newmont from $135.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday, September 29th. National Bank Financial dropped their price objective on shares of Newmont from $140.00 to $135.00 and set a "sector perform" rating on the stock in a research note on Tuesday, October 20th. The Goldman Sachs Group dropped their price objective on shares of Newmont from $127.50 to $119.00 in a research note on Thursday, October 8th. RBC Dominion Securities set a $155.00 price objective on shares of Newmont and gave the stock an "outperform" rating in a research report on Thursday, October 22nd. Finally, Argus set a $110.00 target price on shares of Newmont and gave the stock a "buy" rating in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Newmont has an average rating of "Moderate Buy" and a consensus price target of $137.20.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Monday, November 2nd. The stock was 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $108.04, for a total value of $419,411.28. Following the transaction, the chief executive officer directly owned 101,691 shares of the company's stock, valued at approximately $10,986,695.64. This represents a 3.68% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 20,646 shares of company stock worth $2,380,140 in the last three months. Corporate insiders own 0.06% of the company's stock.

Newmont Profile

Newmont Corporation is a gold-focused mining company that explores for, develops, and operates mines. Its products include gold as well as copper, silver, zinc, and lead, which are produced at some of its mining operations. Founded in 1921, Newmont has grown through exploration and acquisitions into an international mining company. Its operations and projects span North America, South America, Australia, and Africa. Newmont is headquartered in Denver, Colorado. Natascha Viljoen became the company's chief executive officer in 2025, succeeding Tom Palmer.

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