Geneva Partners LLC Buys 11,128 Shares of Newmont Corporation $NEM

Key Points

• Geneva Partners LLC initiated a position in Newmont by purchasing 11,128 shares valued at approximately $1.28 million; institutional investors collectively own 68.85% of the company.
• Newmont reported strong quarterly results, with adjusted EPS of $2.20 beating estimates and revenue rising 15.2% year over year to $6.36 billion. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $137.25.
• Despite bullish fundamentals and a quarterly dividend of $0.26 per share, risks include recent insider selling, reduced price targets from some analysts, and persistent inflation, energy-cost, and Ghana royalty pressures.

Geneva Partners LLC purchased a new position in Newmont Corporation (NYSE:NEM - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,128 shares of the basic materials company's stock, valued at approximately $1,284,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NEM. FARMERS & MERCHANTS TRUST Co OF LONG BEACH purchased a new position in shares of Newmont in the third quarter worth approximately $814,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Newmont during the second quarter valued at approximately $36,180,000. Asset One Wealth Management LLC purchased a new stake in Newmont during the second quarter valued at approximately $2,866,000. Private Advisory Group LLC bought a new position in Newmont in the second quarter worth approximately $10,430,000. Finally, Fifth Third Wealth Advisors LLC purchased a new position in shares of Newmont during the 3rd quarter worth $1,769,000. 68.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NEM has been the subject of a number of recent research reports. Scotiabank boosted their price objective on shares of Newmont from $147.00 to $149.00 and gave the company an "outperform" rating in a research report on Wednesday, August 12th. Sanford C. Bernstein raised their target price on Newmont from $144.00 to $150.00 in a report on Friday, October 16th. RBC Dominion Securities set a $155.00 target price on Newmont and gave the company an "outperform" rating in a research report on Thursday, October 22nd. Freedom Broker lowered Newmont from a "buy" rating to a "hold" rating and cut their price target for the company from $130.00 to $116.00 in a report on Thursday, October 22nd. Finally, Argus set a $110.00 price target on Newmont and gave the stock a "buy" rating in a research report on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $137.25.

Trending Headlines about Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont reported record third-quarter adjusted earnings of $2.20 per share, beating the $1.94 consensus estimate, while revenue increased 15.2% year over year to $6.36 billion. Strong gold prices near $4,000, improved cost guidance, free cash flow, share buybacks and dividends support the bullish case. Newmont’s Record Quarter Shows Why Gold’s Floor Is the Real Story
• Positive Sentiment: Bank of America reaffirmed its Buy rating, and other analysts remain constructive on Newmont and the materials sector. Longer-term projects, including Fourmile and the Red Chris Block Cave upgrade, could expand the portfolio and lower costs after 2030. Bank of America Reaffirms Buy Rating
• Neutral Sentiment: Investor interest has increased, with Newmont appearing among the stocks most watched by Zacks users. That attention reflects the company’s earnings momentum and gold exposure but is not, by itself, a fundamental catalyst. Newmont Attracting Investor Attention
• Negative Sentiment: Macquarie lowered its price target to $128 from $134, while Morgans Financial downgraded the shares to Accumulate and reduced its target to AU$177. These actions may weigh on sentiment despite continued analyst support. Macquarie Adjusts Newmont Price Target
• Negative Sentiment: Cost pressures remain a key risk. Inflation, higher oil and energy prices, and Ghana’s increased royalty burden could extend cost growth into 2027, potentially limiting margin expansion even if gold prices remain strong. Newmont Nevada NAV Climbs but Cost Creep Continues

Insider Activity at Newmont

In related news, CFO Brian Tabolt sold 11,445 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total value of $1,202,755.05. Following the transaction, the chief financial officer directly owned 29,324 shares of the company's stock, valued at approximately $3,081,659.16. The trade was a 28.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Natascha Viljoen sold 3,882 shares of the company's 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 $445,692.42. Following the completion of the transaction, the chief executive officer owned 127,471 shares of the company's stock, valued at $14,634,945.51. The trade was a 2.96% 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. In the last 90 days, insiders have sold 35,973 shares of company stock valued at $3,927,169. 0.06% of the stock is owned by company insiders.

Newmont Stock Up 1.3%

Shares of NEM stock opened at $110.33 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.45 and a quick ratio of 2.16. Newmont Corporation has a one year low of $76.05 and a one year high of $135.29. The company's fifty day moving average price is $121.66 and its 200-day moving average price is $112.44. The company has a market capitalization of $116.26 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 2.01 and a beta of 0.51.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share 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 company had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter in the prior year, the firm posted $1.71 EPS. Newmont'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 fiscal year.

Newmont Dividend Announcement

The firm 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 $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Wednesday, November 25th. Newmont's payout ratio is presently 12.09%.

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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