Citizens Financial Group Inc. RI Purchases New Position in Newmont Corporation $NEM

Key Points

• Citizens Financial Group acquired 153,377 Newmont shares worth approximately $17.7 million in the third quarter. Institutional investors collectively own 68.85% of Newmont.
• Newmont exceeded quarterly expectations, reporting EPS of $2.20 and revenue of $6.36 billion, up 15.2% year over year. The company also declared a quarterly dividend of $0.26 per share.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $137.25, although higher costs, increased capital spending and mixed analyst revisions pose risks.

Citizens Financial Group Inc. RI acquired a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 153,377 shares of the basic materials company's stock, valued at approximately $17,691,000.

Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Newmont during the 2nd quarter valued at $11,289,753,000. State Street Corp grew its position in Newmont by 3.1% during the 2nd quarter. State Street Corp now owns 52,396,702 shares of the basic materials company's stock worth $4,893,852,000 after acquiring an additional 1,565,716 shares during the last quarter. Van ECK Associates Corp bought a new stake in Newmont during the 2nd quarter worth $671,197,000. Bank of New York Mellon Corp acquired a new position in Newmont in the 2nd quarter worth about $1,219,505,000. Finally, First Eagle Investment Management LLC acquired a new position in Newmont in the 2nd quarter worth about $241,820,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $344,430.00. Following the transaction, the executive vice president directly owned 34,315 shares of the company's stock, valued at $3,939,705.15. The trade was a 8.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the completion of the sale, 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 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 have sold a total of 35,973 shares of company stock valued at $3,927,169 over the last ninety days. 0.06% of the stock is owned by company insiders.

Newmont Stock Performance

NYSE NEM opened at $108.72 on Friday. The company has a market capitalization of $114.55 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 2.02 and a beta of 0.51. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. Newmont Corporation has a twelve month low of $76.05 and a twelve month high of $135.29. The stock has a fifty day simple moving average of $121.86 and a 200 day simple moving average of $110.99.

Newmont (NYSE:NEM - Get Free Report) last announced 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 return on equity of 30.02% and a net margin of 34.73%. The firm had revenue of $6.36 billion for the quarter, compared to the consensus estimate of $6.27 billion. During the same period in the previous year, the business earned $1.71 EPS. The business's quarterly revenue was up 15.2% compared to the same quarter last year. Sell-side analysts expect that Newmont Corporation will post 9.07 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Stockholders 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 dividend yield of 1.0%. The ex-dividend date is Wednesday, November 25th. Newmont's dividend payout ratio (DPR) is 12.09%.

Newmont News Summary

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont reported third-quarter adjusted EPS of $2.20, above the $1.94 consensus estimate, while revenue rose 15.2% year over year to $6.36 billion, exceeding expectations. Higher gold prices, stronger sales and improved copper output following the Cadia recovery supported results. Newmont beats quarterly profit estimates on higher gold prices
• Positive Sentiment: Operating momentum and cash generation were favorable: third-quarter free cash flow reached approximately $1.9 billion, and management said the company remains positioned to meet its 2026 production guidance. Newmont also declared a quarterly dividend of $0.26 per share. Newmont: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Newmont expects gold production to rebound in 2027, offering a potential future catalyst. RBC Dominion Securities maintained an outperform view and set a $155 price target. RBC Dominion Securities recommendations
• Neutral Sentiment: The company priced the Red Chris block-cave expansion at as much as $4.8 billion, with commercial production targeted for 2033. The project could support long-term growth but adds significant capital requirements and execution risk. Newmont prices Red Chris expansion at up to $4.8B
• Negative Sentiment: Newmont raised its full-year 2026 all-in sustaining cost outlook to approximately $1,520 per ounce. Management also highlighted higher costs, declining silver production and increased capital spending related to Red Chris, tempering the earnings upside. Newmont targets Red Chris production in 2033
• Negative Sentiment: Analyst sentiment was mixed. TD Cowen lowered its price target to $131 from $133, while Freedom Broker downgraded the stock to hold and cut its target to $116. Concerns that Newmont’s strong multiyear rally has already priced in much of its cash-flow potential may be limiting investor enthusiasm. Freedom Broker downgrades Newmont to hold

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NEM shares. Sanford C. Bernstein increased their target price on Newmont from $144.00 to $150.00 in a research report on Friday, October 16th. Scotiabank boosted their price target on Newmont from $147.00 to $149.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. Freedom Broker downgraded Newmont from a "buy" rating to a "hold" rating and lowered their price objective for the company from $130.00 to $116.00 in a research note on Thursday. RBC Dominion Securities set a $155.00 target price on shares of Newmont and gave the stock an "outperform" rating in a research report on Thursday. Finally, BMO Capital Markets boosted their target price on shares of Newmont from $135.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $137.25.

Newmont 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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