922,334 Shares in Newmont Corporation $NEM Acquired by Aberdeen Group plc

Key Points

• Aberdeen Group acquired 922,334 Newmont shares in the third quarter, valued at about $106.4 million, representing 0.09% of the company. Institutional investors collectively own 68.85% of Newmont’s stock.
• Newmont reported quarterly earnings of $2.20 per share, beating the $1.94 analyst consensus, while 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 announced a quarterly dividend of $0.26 per share.

Aberdeen Group plc bought a new position in Newmont Corporation (NYSE:NEM - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 922,334 shares of the basic materials company's stock, valued at approximately $106,382,000. Aberdeen Group plc owned 0.09% of Newmont as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Newmont during the 2nd quarter worth about $11,289,753,000. Van ECK Associates Corp purchased a new stake in Newmont in the 2nd quarter worth about $671,197,000. Bank of New York Mellon Corp purchased a new stake in Newmont in the 2nd quarter worth about $1,219,505,000. First Eagle Investment Management LLC bought a new stake in Newmont in the second quarter worth about $241,820,000. Finally, Amundi purchased a new position in shares of Newmont during the second quarter valued at approximately $209,411,000. Institutional investors own 68.85% of the company's stock.

Newmont Price Performance

Newmont stock opened at $113.01 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.45 and a quick ratio of 2.16. The stock has a market cap of $117.44 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 2.45 and a beta of 0.56. The firm has a 50-day moving average of $118.01 and a two-hundred day moving average of $112.33. Newmont Corporation has a 1 year low of $81.34 and a 1 year high of $135.29.

Newmont (NYSE:NEM - Get Free Report) last issued its 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 for the quarter, compared to analyst estimates of $6.27 billion. Newmont had a net margin of 34.73% and a return on equity of 29.81%. The company's quarterly revenue was up 15.2% compared to the same quarter last year. During the same period last year, the company posted $1.71 earnings per share. On average, research analysts forecast that Newmont Corporation will post 9.18 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Wednesday, November 25th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date is Wednesday, November 25th. Newmont's dividend payout ratio (DPR) is presently 12.09%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wall Street Zen cut Newmont from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Raymond James Financial reissued an "outperform" rating and set a $140.00 price target (up from $131.00) on shares of Newmont in a research note on Monday, August 24th. Barclays dropped their price objective on Newmont from $124.00 to $123.00 and set an "overweight" rating for the company in a report on Monday, October 19th. Jefferies Financial Group upped their price objective on Newmont from $146.00 to $155.00 in a research report on Friday, October 9th. Finally, Bank of America upped their price objective on Newmont from $135.00 to $145.00 in a research report on Monday, August 17th. Two 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's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.20.

Insider Buying and Selling at Newmont

In other Newmont news, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $123.00, for a total transaction of $477,486.00. Following the completion of the sale, the chief executive officer directly owned 131,353 shares of the company's stock, valued at $16,156,419. The trade was a 2.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction on Monday, November 2nd. The stock was 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 $3,383,272.60. This represents a 8.74% 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. Insiders have sold a total of 20,646 shares of company stock worth $2,380,140 over the last 90 days. 0.06% of the stock is currently owned by company insiders.

About Newmont

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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