Bank of Nova Scotia Purchases New Shares in Newmont Corporation $NEM

Bank of Nova Scotia purchased a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 931,256 shares of the basic materials company's stock, valued at approximately $87,213,000. Bank of Nova Scotia owned 0.09% of Newmont as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of NEM. Brighton Jones LLC boosted its stake in shares of Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock valued at $506,000 after buying an additional 1,847 shares during the period. Woodline Partners LP increased its position in Newmont by 40.7% in the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company's stock valued at $4,644,000 after acquiring an additional 27,813 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Newmont during the second quarter valued at $240,000. Cerity Partners LLC lifted its holdings in shares of Newmont by 108.9% during the second quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company's stock worth $7,303,000 after purchasing an additional 65,342 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in Newmont by 8.5% in the second quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company's stock valued at $2,854,000 after purchasing an additional 3,856 shares during the period. Institutional investors own 68.85% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on NEM. Jefferies Financial Group reduced their price target on Newmont from $158.00 to $146.00 and set a "buy" rating on the stock in a research report on Monday, July 6th. TD Securities upgraded shares of Newmont from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. UBS Group decreased their price target on Newmont from $140.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Canaccord Genuity Group dropped their price target on Newmont from $160.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday, July 23rd. Finally, Weiss Ratings cut Newmont from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, June 17th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $132.59.

Newmont News Summary

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Gold reached record levels. Spot gold traded above $4,500 an ounce and was on track for a third consecutive weekly gain. A softer U.S. dollar, bond-market volatility and inflation concerns increased demand for gold as a safe-haven asset, improving the potential revenue and cash-flow outlook for Newmont. Why Is Newmont Stock Surging Friday?
• Positive Sentiment: Strong operating performance and capital returns supported sentiment. Newmont reported record second-quarter free cash flow of $2.2 billion and operating cash flow of $2.9 billion, remains on track to produce 5.3 million attributable gold ounces in 2026, and has returned approximately $1.9 billion through dividends and share repurchases since its prior earnings report.
• Positive Sentiment: Scotiabank raised its earnings forecast. The firm increased its FY2026 EPS estimate to $8.96 from $8.83, maintained an “Outperform” rating and set a $149 price target. The median target among 10 analysts is reported at $145.50, suggesting analysts generally see additional upside.
• Neutral Sentiment: Newmont appointed Peter Beaven as an independent director. Effective September 1, Beaven is expected to join the Audit Committee, adding finance and global mining experience. The appointment is strategically supportive but is unlikely to materially change near-term earnings. Newmont Appoints Peter Beaven to Board of Directors
• Neutral Sentiment: Newmont agreed to sell a Nevada gold project to StrikePoint for $70 million. The transaction may help streamline the portfolio and monetize a noncore asset, although the immediate earnings impact was not provided. StrikePoint to Buy Nevada Gold Project from Newmont
• Negative Sentiment: Reported insider trading was a potential cautionary signal. Company insiders recorded 15 open-market sales and no purchases during the past six months, though such transactions may reflect compensation or personal financial planning rather than a view on Newmont’s business.

Newmont Price Performance

NEM stock opened at $131.76 on Friday. The company has a market capitalization of $138.83 billion, a P/E ratio of 16.64, a price-to-earnings-growth ratio of 1.36 and a beta of 0.47. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. Newmont Corporation has a 52-week low of $69.05 and a 52-week high of $134.88. The business has a 50-day simple moving average of $101.60 and a two-hundred day simple moving average of $108.96.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.05. The business had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same period in the prior year, the firm posted $1.43 EPS. Research analysts expect that Newmont Corporation will post 9.01 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, September 3rd. Newmont's dividend payout ratio is presently 13.13%.

Insider Buying and Selling at Newmont

In other Newmont news, CFO Brian Tabolt sold 11,445 shares of Newmont stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the transaction, the chief financial officer owned 29,324 shares of the company's stock, valued at $3,081,659.16. This trade represents a 28.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Natascha Viljoen sold 7,764 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total value of $807,456.00. Following the completion of the transaction, the chief executive officer owned 135,235 shares in the company, valued at $14,064,440. The trade was a 5.43% decrease in their position. 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. In the last 90 days, insiders sold 32,091 shares of company stock worth $3,292,513. Insiders own 0.06% of the company's stock.

Newmont Profile

Newmont Corporation NYSE: NEM is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company's core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.

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