261,470 Shares of Newmont Corporation $NEM Bought by Kornitzer Capital Management Inc. KS

Key Points

• Kornitzer Capital Management opened a new position in Newmont during the third quarter, buying 261,470 shares valued at approximately $30.2 million. Institutional investors collectively own 68.85% of the company’s stock.
• Newmont reported quarterly earnings of $2.20 per share, above the $1.94 analyst consensus, and revenue rose 15.2% year over year to $6.36 billion. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $137.20.
• Newmont declared a quarterly dividend of $0.26 per share, equivalent to a 0.9% yield at the reported share price. Company insiders sold 20,646 shares worth about $2.38 million over the past 90 days; the reported trades were made under pre-arranged plans.

Kornitzer Capital Management Inc. KS bought a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 261,470 shares of the basic materials company's stock, valued at approximately $30,158,000.

A number of other hedge funds and other institutional investors have also modified their holdings of NEM. Axiom Investment Management LLC purchased a new position in shares of Newmont during the 3rd quarter valued at approximately $48,000. Asset Dedication LLC bought a new stake in shares of Newmont in the third quarter worth $76,000. United Advisor Group LLC bought a new stake in shares of Newmont in the third quarter worth $1,234,000. Plancorp LLC acquired a new stake in Newmont in the third quarter valued at $676,000. Finally, Alps Advisors Inc. acquired a new stake in Newmont in the third quarter valued at $62,736,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on NEM. BNP Paribas Exane raised their price objective on shares of Newmont from $102.00 to $112.00 and gave the stock a "neutral" rating in a report on Monday, August 17th. Argus set a $110.00 target price on shares of Newmont and gave the company a "buy" rating in a research note on Monday, August 3rd. TD Cowen cut their target price on shares of Newmont from $133.00 to $131.00 in a research note on Tuesday, October 20th. RBC Dominion Securities set a $155.00 price target on shares of Newmont and gave the stock an "outperform" rating in a research report on Thursday, October 22nd. Finally, Zacks Research downgraded Newmont from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 14th. Two equities 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 company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $137.20.

Key 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 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

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $108.04, for a total transaction of $324,120.00. Following the sale, the executive vice president owned 31,315 shares in the company, valued at $3,383,272.60. This represents a 8.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction dated Tuesday, September 1st. The stock was 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. 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. Insiders sold a total of 20,646 shares of company stock valued at $2,380,140 over the last ninety days. Company insiders own 0.06% of the company's stock.

Newmont Stock Performance

Shares of NEM opened at $120.82 on Friday. The business's fifty day moving average price is $118.87 and its 200 day moving average price is $112.48. Newmont Corporation has a 12-month low of $81.34 and a 12-month high of $135.29. The stock 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. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.45 and a quick ratio of 2.16.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data 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. Newmont had a net margin of 34.73% and a return on equity of 29.81%. The firm had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter in the previous year, the company posted $1.71 earnings per share. The firm's revenue was up 15.2% on a year-over-year basis. Equities research analysts forecast that Newmont Corporation will post 9.14 EPS for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Stockholders of record on Wednesday, November 25th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, November 25th. Newmont's dividend payout ratio (DPR) is presently 12.09%.

Newmont Profile

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