Hudson Canyon Capital Management Buys New Shares in Newmont Corporation $NEM

Key Points

• Hudson Canyon Capital Management opened a new position in Newmont during the first quarter, buying 20,300 shares valued at about $2.2 million.
• Institutional ownership remains heavy, with hedge funds and asset managers holding 68.85% of Newmont’s shares; several large firms, including Vanguard and State Street, also added to their stakes.
• Analyst sentiment is still broadly positive: Newmont carries a Buy consensus, with 17 Buy ratings, 4 Strong Buy ratings, and a consensus price target of $136.64.

Hudson Canyon Capital Management bought a new position in Newmont Corporation (NYSE:NEM - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 20,300 shares of the basic materials company's stock, valued at approximately $2,197,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Newmont by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company's stock valued at $13,390,613,000 after purchasing an additional 637,996 shares during the last quarter. State Street Corp boosted its position in Newmont by 1.0% in the fourth quarter. State Street Corp now owns 49,959,850 shares of the basic materials company's stock valued at $4,988,491,000 after buying an additional 480,223 shares during the last quarter. Van ECK Associates Corp boosted its position in Newmont by 23.4% in the fourth quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company's stock valued at $2,973,539,000 after buying an additional 5,643,496 shares during the last quarter. Geode Capital Management LLC increased its holdings in Newmont by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company's stock worth $2,738,756,000 after buying an additional 946,824 shares during the period. Finally, Norges Bank acquired a new position in Newmont in the 4th quarter worth approximately $1,443,128,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on NEM shares. TD Cowen restated a "buy" rating on shares of Newmont in a research note on Monday, April 27th. Scotiabank cut their price objective on shares of Newmont from $151.00 to $147.00 and set a "sector outperform" rating on the stock in a research note on Tuesday. TD Securities raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Jefferies Financial Group decreased their target price on shares of Newmont from $158.00 to $146.00 and set a "buy" rating for the company in a research report on Monday, July 6th. Finally, Bank of America lowered their price target on shares of Newmont from $157.00 to $132.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Newmont presently has a consensus rating of "Buy" and a consensus target price of $136.64.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $92.38, for a total value of $277,140.00. Following the completion of the transaction, the executive vice president owned 43,315 shares in the company, valued at approximately $4,001,439.70. This represents a 6.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the sale, the executive vice president directly owned 67,865 shares in the company, valued at approximately $7,472,615.15. The trade was a 16.47% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 28,556 shares of company stock worth $3,058,146. 0.06% of the stock is currently owned by insiders.

Trending Headlines about Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: TD upgraded Newmont from hold to buy and set a $127 price target, signaling improved confidence in the stock’s outlook. BayStreet.CA analyst ratings
• Neutral Sentiment: Scotiabank lowered its target on Newmont to $147 from $151 but kept a sector outperform rating, so the call remains constructive despite a smaller valuation view. Benzinga
• Neutral Sentiment: National Bank Financial cut its price target to $125 from $140 and maintained a sector perform rating, reflecting a more cautious stance on upside. BayStreet.CA analyst ratings
• Negative Sentiment: A Zacks article warned that Newmont may face higher 2026 unit costs due to lower production, royalties, sustaining capital and inventory changes, which could pressure margins. Zacks margin outlook article

Newmont Price Performance

Shares of NYSE NEM opened at $94.69 on Wednesday. The stock has a market capitalization of $101.08 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 1.06 and a beta of 0.46. Newmont Corporation has a 12 month low of $55.37 and a 12 month high of $134.88. The firm's 50 day simple moving average is $103.70 and its 200-day simple moving average is $110.52. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The firm had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same period in the previous year, the firm earned $1.25 EPS. The business's quarterly revenue was up 45.8% on a year-over-year basis. Analysts expect that Newmont Corporation will post 9.32 EPS for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th were issued a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. Newmont's payout ratio is presently 13.49%.

Newmont Company 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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