Ascent Group LLC Acquires New Holdings in Newmont Corporation $NEM

Key Points

• Ascent Group acquired a new 21,649-share stake in Newmont during the third quarter, valued at approximately $2.5 million.
• Institutional investors and hedge funds own 68.85% of Newmont shares; several major firms, including BlackRock and Bank of New York Mellon, also reported new stakes.
• Newmont beat quarterly earnings and revenue expectations, reporting $2.20 EPS and $6.36 billion in revenue, up 15.2% year over year. It also declared a quarterly dividend of $0.26 per share.

Ascent Group LLC bought a new stake in Newmont Corporation (NYSE:NEM - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 21,649 shares of the basic materials company's stock, valued at approximately $2,497,000.

A number of other large investors have also added to or reduced their stakes in NEM. BlackRock Inc. acquired a new stake in Newmont during the second quarter valued at approximately $11,289,753,000. Van ECK Associates Corp acquired a new position in shares of Newmont in the 2nd quarter worth approximately $671,197,000. Bank of New York Mellon Corp acquired a new position in shares of Newmont in the 2nd quarter worth approximately $1,219,505,000. First Eagle Investment Management LLC bought a new stake in shares of Newmont in the 2nd quarter valued at approximately $241,820,000. Finally, Amundi bought a new stake in shares of Newmont in the 2nd quarter valued at approximately $209,411,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont’s strong third-quarter performance—higher sales and net income, lower reported costs, and upgraded full-year production guidance—supports the bullish view. The report also points to a recent sharp rise in the shares. Article: Is Newmont Still Undervalued?
• Positive Sentiment: Scotiabank raised its 2026 EPS estimate to $9.23 from $8.96 and maintained a Sector Outperform rating with a $148 price target, signaling confidence in near-term earnings. Article: Scotiabank raises Newmont 2026 EPS estimate
• Positive Sentiment: Newmont’s free cash flow is helping fund growth projects and additional shareholder returns, potentially supporting longer-term value. Article: Can Newmont’s Free Cash Flow Momentum Carry Into Q4?
• Neutral Sentiment: Scotiabank lowered its 2027 EPS estimate to $9.03 from $9.14, though it retained its Sector Outperform rating and $148 target. The adjustment tempers, but does not overturn, its positive stance. Article: Scotiabank adjusts Newmont EPS estimates
• Neutral Sentiment: A Zacks article highlighted Newmont as a potential long-term growth stock, but provided no company-specific new catalyst in the supplied summary. Article: Newmont as a Long-Term Growth Stock
• Negative Sentiment: EVP Peter Toth sold 3,000 shares, a modest potential sentiment overhang; the sale was made under a prearranged trading plan. Article: Newmont EVP Sells Shares

Newmont Trading Up 1.4%

Shares of NYSE:NEM opened at $119.74 on Friday. The company has a market cap of $124.43 billion, a PE ratio of 12.15, a P/E/G ratio of 2.15 and a beta of 0.56. The company's 50-day moving average price is $119.10 and its 200 day moving average price is $112.47. Newmont Corporation has a fifty-two week low of $81.34 and a fifty-two week 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 posted its earnings results on Thursday, October 22nd. The basic materials company reported $2.20 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $6.27 billion. During the same quarter in the prior year, the firm earned $1.71 EPS. Newmont's quarterly revenue was up 15.2% on a year-over-year basis. Sell-side analysts anticipate that Newmont Corporation will post 9.14 earnings per share for the current year.

Newmont Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NEM. National Bank Financial reduced their price objective on Newmont from $140.00 to $135.00 and set a "sector perform" rating on the stock in a research note on Tuesday, October 20th. Bank of America boosted their target price on shares of Newmont from $135.00 to $145.00 in a research note on Monday, August 17th. Sanford C. Bernstein boosted their target price on shares of Newmont from $144.00 to $150.00 in a research note on Friday, October 16th. Zacks Research cut shares of Newmont from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 14th. Finally, BNP Paribas Exane raised their price target on shares of Newmont from $102.00 to $112.00 and gave the stock a "neutral" rating in a research report on Monday, August 17th. Two 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.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $137.20.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the 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 transaction, 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. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction dated Tuesday, September 1st. The shares were 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 represents a 2.87% 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 valued at $2,380,140 in the last quarter. 0.06% of the stock is currently owned by insiders.

Newmont Company Profile

Newmont Corporation NYSE: NEM is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world's largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.

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