Abbington Investment Group Makes New $1.24 Million Investment in Newmont Corporation $NEM

Key Points

• Abbington Investment Group initiated a $1.24 million position in Newmont, buying 10,760 shares during the third quarter. Institutional investors collectively own 68.85% of the company.
• Newmont reported quarterly EPS of $2.20, beating the $1.94 consensus, while revenue rose 15.2% year over year to $6.36 billion. The company declared a $0.26 quarterly dividend, equivalent to a 0.9% yield at the reported share price.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $137.20. Meanwhile, CEO Natascha Viljoen and EVP Peter Toth disclosed share sales under pre-arranged trading plans.

Abbington Investment Group purchased a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,760 shares of the basic materials company's stock, valued at approximately $1,241,000.

Several other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Newmont in the 2nd quarter valued at approximately $11,289,753,000. State Street Corp boosted its holdings in Newmont by 3.1% in the second quarter. State Street Corp now owns 52,396,702 shares of the basic materials company's stock valued at $4,893,852,000 after purchasing an additional 1,565,716 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Newmont by 5.3% in the 1st quarter. Bank of New York Mellon Corp now owns 12,237,940 shares of the basic materials company's stock valued at $1,324,757,000 after buying an additional 615,461 shares during the period. Dimensional Fund Advisors LP grew its holdings in Newmont by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,359,524 shares of the basic materials company's stock worth $1,012,792,000 after acquiring an additional 184,586 shares in the last quarter. Finally, Amundi grew its stake in shares of Newmont by 4.4% during the first quarter. Amundi now owns 8,780,775 shares of the basic materials company's stock worth $950,519,000 after purchasing an additional 372,415 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Natascha Viljoen sold 3,882 shares of the company's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $123.00, for a total value of $477,486.00. Following the completion of the transaction, the chief executive officer directly owned 131,353 shares in the company, valued at approximately $16,156,419. This represents a 2.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 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 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. 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 three months, insiders have sold 20,646 shares of company stock worth $2,380,140. Corporate insiders own 0.06% of the company's stock.

Newmont Stock Performance

Shares of NYSE:NEM opened at $120.82 on Monday. Newmont Corporation has a 12 month low of $81.34 and a 12 month high of $135.29. The business has a 50-day moving average of $118.87 and a two-hundred day moving average of $112.48. 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 firm has a market capitalization of $125.55 billion, a PE ratio of 14.05, a P/E/G ratio of 2.20 and a beta of 0.56.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.26. The firm had revenue of $6.36 billion for the quarter, compared to analysts' expectations of $6.27 billion. Newmont had a net margin of 34.73% and a return on equity of 29.81%. Newmont's revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.71 earnings per share. As a group, research analysts forecast that Newmont Corporation will post 9.14 earnings per share for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Wednesday, November 25th will be given 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 yield of 0.9%. Newmont's payout ratio is 12.09%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NEM shares. National Bank Financial dropped their price target 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. Weiss Ratings raised shares of Newmont from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, October 16th. Argus set a $110.00 price objective on Newmont and gave the stock a "buy" rating in a report on Monday, August 3rd. Scotiabank cut their price target on Newmont from $149.00 to $148.00 and set an "outperform" rating for the company in a research note on Tuesday, October 27th. Finally, Royal Bank Of Canada upped their target price on Newmont from $135.00 to $155.00 and gave the company an "outperform" rating in a research note on Wednesday, September 16th. Two 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $137.20.

Newmont News Roundup

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

Newmont Company Profile

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