Hourglass Capital LLC Makes New $13.07 Million Investment in Newmont Corporation $NEM

Key Points

• Hourglass Capital invested approximately $13.07 million in 113,279 Newmont shares during the third quarter, making NEM its third-largest holding at 2.7% of the portfolio. Institutional investors collectively own 68.85% of the stock.
• Newmont reported strong third-quarter results, with adjusted EPS of $2.20 beating estimates of $1.94 and revenue rising 15.2% year over year to $6.36 billion. The company also declared a quarterly dividend of $0.26 per share.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $137.25 target price, although some firms lowered targets and warned that inflation, energy costs and higher Ghana royalties could pressure margins. Insiders have sold 35,973 shares worth about $3.93 million over the past 90 days.

Hourglass Capital LLC acquired a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 113,279 shares of the basic materials company's stock, valued at approximately $13,066,000. Newmont comprises approximately 2.7% of Hourglass Capital LLC's investment portfolio, making the stock its 3rd biggest position.

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

Insider Activity at Newmont

In other Newmont news, CFO Brian Tabolt sold 11,445 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer directly owned 29,324 shares of the company's stock, valued at approximately $3,081,659.16. This trade represents a 28.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $114.81, for a total value of $344,430.00. Following the completion of the sale, the executive vice president owned 34,315 shares of the company's stock, valued at $3,939,705.15. This trade represents a 8.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 35,973 shares of company stock worth $3,927,169. 0.06% of the stock is currently owned by insiders.

Key Newmont News

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

Analysts Set New Price Targets

Several equities research analysts recently commented on NEM shares. Canadian Imperial Bank of Commerce set a $154.00 price objective on shares of Newmont in a research report on Friday, October 16th. TD raised their price target on Newmont from $127.00 to $133.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. The Goldman Sachs Group cut their price target on Newmont from $127.50 to $119.00 in a report on Thursday, October 8th. Wall Street Zen cut Newmont from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Finally, TD Cowen reduced their price objective on Newmont from $133.00 to $131.00 in a research report on Tuesday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $137.25.

Newmont Stock Up 1.3%

NEM stock opened at $110.33 on Tuesday. The stock has a market capitalization of $116.26 billion, a P/E ratio of 12.83, a PEG ratio of 2.01 and a beta of 0.51. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.16 and a current ratio of 2.45. Newmont Corporation has a one year low of $76.05 and a one year high of $135.29. The company has a 50 day moving average price of $121.66 and a two-hundred day moving average price of $112.44.

Newmont (NYSE:NEM - Get Free Report) last issued 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. Newmont had a return on equity of 29.81% and a net margin of 34.73%. The company had revenue of $6.36 billion for the quarter, compared to analyst estimates of $6.27 billion. During the same quarter in the prior year, the company posted $1.71 EPS. The business's revenue for the quarter was up 15.2% compared to the same quarter last year. As a group, sell-side analysts expect that Newmont Corporation will post 9.07 EPS for the current 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. The ex-dividend date of this dividend is Wednesday, November 25th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. Newmont's payout ratio is currently 12.09%.

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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