774,850 Shares of Newmont Corporation $NEM Bought by Russell Investments Group Ltd.

Key Points

• Russell Investments Group acquired 774,850 Newmont shares in the third quarter, valued at about $89.6 million; institutional investors collectively own 68.85% of the stock.
• Newmont beat quarterly earnings and revenue estimates, reporting $2.20 per share and $6.36 billion in revenue, with revenue up 15.2% year over year. The company also declared a quarterly dividend of $0.26 per share.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $137.20; insiders sold 20,646 shares worth about $2.38 million over the past 90 days.

Russell Investments Group Ltd. acquired a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 774,850 shares of the basic materials company's stock, valued at approximately $89,563,000. Russell Investments Group Ltd. owned approximately 0.07% of Newmont as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of NEM. GoalVest Advisory LLC acquired a new stake in Newmont during the 3rd quarter valued at $28,000. Winthrop Capital Management LLC bought a new stake in Newmont in the 3rd quarter valued at $29,000. Financial Management Professionals Inc. bought a new stake in Newmont in the 3rd quarter valued at $30,000. Clearstead Trust LLC acquired a new position in Newmont in the 2nd quarter valued at $25,000. Finally, Signature Equity Partners LLC acquired a new position in Newmont in the 3rd quarter valued at $32,000. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Newmont

In other news, CEO Natascha Viljoen sold 3,882 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 $419,411.28. Following the transaction, the chief executive officer owned 101,691 shares of the company's stock, valued at $10,986,695.64. This represents a 3.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $108.04, for a total value of $324,120.00. Following the completion of the sale, the executive vice president owned 31,315 shares of the company's stock, valued at approximately $3,383,272.60. This represents a 8.74% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 20,646 shares of company stock valued at $2,380,140. Insiders own 0.06% of the company's stock.

Newmont Trading Up 0.3%

NYSE NEM traded up $0.37 on Friday, hitting $113.01. The company's stock had a trading volume of 4,742,359 shares, compared to its average volume of 7,137,875. The company's 50-day moving average is $118.01 and its 200 day moving average is $112.33. The firm has a market cap of $117.44 billion, a PE ratio of 13.14, a PEG ratio of 2.45 and a beta of 0.56. Newmont Corporation has a 1-year low of $81.34 and a 1-year high of $135.29. 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 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. 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 quarter in the previous year, the business earned $1.71 earnings per share. Newmont's revenue was up 15.2% compared to the same quarter last year. As a group, analysts predict that Newmont Corporation will post 9.18 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Wednesday, November 25th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, November 25th. Newmont's payout ratio is 12.09%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NEM. TD Cowen dropped their target price on Newmont from $133.00 to $131.00 in a report on Tuesday, October 20th. BNP Paribas Exane upped their price target on shares of Newmont from $102.00 to $112.00 and gave the company a "neutral" rating in a research note on Monday, August 17th. Barclays lowered their price target on shares of Newmont from $124.00 to $123.00 and set an "overweight" rating on the stock in a research report on Monday, October 19th. Freedom Broker cut shares of Newmont from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $130.00 to $116.00 in a research note on Thursday, October 22nd. Finally, Jefferies Financial Group boosted their price objective on shares of Newmont from $146.00 to $155.00 in a report on Friday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $137.20.

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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