Madison Asset Management LLC Buys New Position in Newmont Corporation $NEM

Key Points

• Madison Asset Management LLC opened a new position in Newmont, buying 40,500 shares worth about $4.38 million in the first quarter.
• Newmont’s latest earnings beat expectations, with $2.90 EPS versus the $2.07 estimate and revenue of $7.31 billion, up 45.8% year over year.
• Wall Street remains broadly constructive on the stock, with analysts maintaining a Moderate Buy rating and an average price target of $136.26, even as some firms trimmed their targets.

Madison Asset Management LLC bought a new stake in shares of Newmont Corporation (NYSE:NEM - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 40,500 shares of the basic materials company's stock, valued at approximately $4,384,000.

A number of other institutional investors have also recently made changes to their positions in NEM. Apella Capital LLC lifted its holdings in shares of Newmont by 4.1% during the 4th quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company's stock worth $219,000 after acquiring an additional 86 shares during the last quarter. New Wave Wealth Advisors LLC raised its position in Newmont by 1.3% during the fourth quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company's stock valued at $684,000 after purchasing an additional 88 shares in the last quarter. Novem Group raised its position in Newmont by 3.7% during the fourth quarter. Novem Group now owns 2,487 shares of the basic materials company's stock valued at $248,000 after purchasing an additional 88 shares in the last quarter. Norden Group LLC lifted its stake in Newmont by 0.7% during the fourth quarter. Norden Group LLC now owns 12,367 shares of the basic materials company's stock worth $1,235,000 after purchasing an additional 90 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in Newmont by 1.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company's stock worth $714,000 after purchasing an additional 96 shares during the last quarter. Institutional investors own 68.85% of the company's stock.

Newmont Stock Up 3.6%

Shares of NYSE:NEM opened at $92.45 on Wednesday. The stock has a market capitalization of $98.70 billion, a P/E ratio of 11.99, a price-to-earnings-growth ratio of 1.04 and a beta of 0.46. The stock's 50-day moving average price is $101.15 and its 200-day moving average price is $110.14. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 12-month low of $59.96 and a 12-month high of $134.88.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating analysts' consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same quarter in the previous year, the company posted $1.25 EPS. Newmont's revenue for the quarter was up 45.8% on a year-over-year basis. On average, equities analysts anticipate that Newmont Corporation will post 9.07 earnings per share for the current year.

Newmont Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NEM shares. Jefferies Financial Group reduced their price objective on Newmont from $158.00 to $146.00 and set a "buy" rating on the stock in a research report on Monday, July 6th. Bank of America dropped their target price on Newmont from $157.00 to $132.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Citigroup reaffirmed a "positive" rating on shares of Newmont in a research note on Wednesday, July 15th. TD Cowen reiterated a "buy" rating on shares of Newmont in a research report on Monday, April 27th. Finally, BMO Capital Markets decreased their price target on shares of Newmont from $145.00 to $135.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $136.26.

Insider Buying and Selling

In other news, insider David John Thornton sold 2,296 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the transaction, the insider owned 23,163 shares in the company, valued at approximately $2,550,477.93. This trade represents a 9.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $92.38, for a total transaction of $277,140.00. Following the sale, the executive vice president owned 43,315 shares of the company's stock, valued at $4,001,439.70. This represents a 6.48% 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 three months, insiders sold 28,556 shares of company stock worth $3,058,146. 0.06% of the stock is owned by company insiders.

Newmont News Summary

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Wall Street brokerage sentiment remains upbeat on Newmont, which can support the stock as investors look for analyst confidence ahead of earnings. Wall Street Bulls Look Optimistic About Newmont (NEM): Should You Buy?
• Positive Sentiment: Strong gold prices remain a key tailwind for Newmont, helping offset some operational pressure and reinforcing the investment case for the gold producer. Here's How to Play Newmont Stock Before Q2 Earnings Release
• Neutral Sentiment: Several recent articles focus on how to trade or value Newmont ahead of earnings, reflecting heightened attention but not a clear new fundamental catalyst. Here's How to Play Newmont Stock Before Q2 Earnings Release
• Neutral Sentiment: Some market commentary says Newmont could be volatile around earnings due to U.S.-Iran tensions and the upcoming report, which may increase trading activity without clearly favoring direction. Newmont Stock Suddenly Offers a Double-Sided Debit Trade on U.S.-Iran Tensions and Upcoming Earnings
• Negative Sentiment: Expectations for lower production, rising costs, and weaker margins in Q2 could pressure shares if Newmont’s earnings or guidance come in below hopes. Here's How to Play Newmont Stock Before Q2 Earnings Release
• Negative Sentiment: Scotiabank’s negative outlook for FY2027 earnings adds another cautionary note for investors focused on longer-term profitability. Scotiabank Has Negative Outlook for Newmont FY2027 Earnings

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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