Alps Advisors Inc. Makes New Investment in Newmont Corporation $NEM

Key Points

• Alps Advisors initiated a Newmont position, purchasing 543,923 shares worth about $62.7 million, or 0.05% of the company, in the third quarter. Institutional investors collectively own 68.85% of Newmont.
• Newmont beat quarterly earnings and revenue expectations, reporting $2.20 per share and $6.36 billion in revenue; revenue rose 15.2% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $137.20. Newmont also declared a quarterly dividend of $0.26 per share.

Alps Advisors Inc. purchased a new position in Newmont Corporation (NYSE:NEM - Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 543,923 shares of the basic materials company's stock, valued at approximately $62,736,000. Alps Advisors Inc. owned 0.05% of Newmont at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hourglass Capital LLC bought a new position in shares of Newmont in the 3rd quarter valued at about $13,066,000. Hennessy Advisors Inc. acquired a new stake in Newmont during the 3rd quarter worth about $2,491,000. FARMERS & MERCHANTS TRUST Co OF LONG BEACH purchased a new position in Newmont during the third quarter worth about $814,000. Greenleaf Trust purchased a new stake in shares of Newmont in the third quarter valued at about $3,043,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in Newmont in the 2nd quarter worth approximately $36,180,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of recent research reports. National Bank Financial decreased their price objective on shares of Newmont from $140.00 to $135.00 and set a "sector perform" rating for the company in a report on Tuesday, October 20th. Canaccord Genuity Group cut their target price on Newmont from $160.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday, July 23rd. Freedom Broker cut Newmont from a "buy" rating to a "hold" rating and dropped their price target for the stock from $130.00 to $116.00 in a research report on Thursday, October 22nd. Bank of America upped their target price on Newmont from $135.00 to $145.00 in a report on Monday, August 17th. Finally, Barclays cut their price target on Newmont from $124.00 to $123.00 and set an "overweight" rating for the company in a report on Monday, October 19th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $137.20.

Newmont Trading Up 0.9%

NYSE NEM opened at $120.82 on Friday. Newmont Corporation has a 12 month low of $81.34 and a 12 month high of $135.29. The stock's fifty day moving average price is $118.87 and its 200-day moving average price is $112.48. The company has a current ratio of 2.45, a quick ratio of 2.16 and a debt-to-equity ratio of 0.15. The stock has a market cap of $125.55 billion, a P/E ratio of 14.05, a P/E/G ratio of 1.99 and a beta of 0.56.

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

Newmont Dividend Announcement

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

Insider Activity

In other news, CEO Natascha Viljoen sold 3,882 shares of the firm's stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $108.04, for a total transaction of $419,411.28. Following the completion of the sale, the chief executive officer owned 101,691 shares in the company, valued at $10,986,695.64. This trade represents a 3.68% 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. 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 stock was sold at an average price of $108.04, for a total transaction 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 trade represents a 8.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 20,646 shares of company stock valued at $2,380,140 over the last 90 days. Corporate insiders own 0.06% of the company's stock.

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

About Newmont

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