Newmont Corporation $NEM Shares Newly Purchased by Retirement Systems of Alabama

Key Points

• Retirement Systems of Alabama bought 220,968 Newmont shares in the third quarter, worth about $25.5 million. Institutional investors and hedge funds own 68.85% of the company’s stock.
• Newmont beat quarterly earnings and revenue expectations, reporting $2.20 per share and $6.36 billion in revenue; revenue rose 15.2% year over year. The company also declared a quarterly dividend of $0.26 per share.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $137.20. Newmont’s CEO and an executive vice president recently sold shares under pre-arranged trading plans.

Retirement Systems of Alabama bought a new stake in Newmont Corporation (NYSE:NEM - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 220,968 shares of the basic materials company's stock, valued at approximately $25,486,000.

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

Insider Buying and Selling at Newmont

In related news, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $108.04, for a total value of $419,411.28. Following the completion of the sale, the chief executive officer directly owned 101,691 shares in the company, valued at $10,986,695.64. This represents a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 firm's stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $108.04, for a total value of $324,120.00. Following the transaction, the executive vice president directly owned 31,315 shares of the company's stock, valued at approximately $3,383,272.60. This represents a 8.74% 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. In the last three months, insiders sold 20,646 shares of company stock worth $2,380,140. 0.06% of the stock is currently owned by insiders.

Newmont Stock Down 4.3%

NYSE:NEM opened at $119.83 on Wednesday. The firm's 50 day simple moving average is $118.69 and its 200 day simple moving average is $112.50. 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 $81.34 and a one year high of $135.29. The company has a market cap of $124.52 billion, a PE ratio of 13.93, a P/E/G ratio of 2.28 and a beta of 0.56.

Newmont (NYSE:NEM - Get Free Report) last posted its 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. The firm had revenue of $6.36 billion for the quarter, compared to analyst estimates of $6.27 billion. Newmont had a net margin of 34.73% and a return on equity of 29.81%. The company's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.71 EPS. On average, research analysts anticipate that Newmont Corporation will post 9.14 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Wednesday, November 25th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, November 25th. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. Newmont's payout ratio is currently 12.09%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NEM. Argus set a $110.00 target price on shares of Newmont and gave the stock a "buy" rating in a research note on Monday, August 3rd. Jefferies Financial Group increased their price target on Newmont from $146.00 to $155.00 in a research note on Friday, October 9th. TD Cowen cut their price objective on Newmont from $133.00 to $131.00 in a report on Tuesday, October 20th. Sanford C. Bernstein boosted their price objective on Newmont from $144.00 to $150.00 in a research report on Friday, October 16th. Finally, TD Securities upgraded Newmont from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.20.

Newmont Profile

Newmont Corporation is a gold-focused mining company that explores for, develops, and operates mines. Its products include gold as well as copper, silver, zinc, and lead, which are produced at some of its mining operations. Founded in 1921, Newmont has grown through exploration and acquisitions into an international mining company. Its operations and projects span North America, South America, Australia, and Africa. Newmont is headquartered in Denver, Colorado. Natascha Viljoen became the company's chief executive officer in 2025, succeeding Tom Palmer.

Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Corporation (NYSE:NEM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.