Oppenheimer & Co. Inc. Purchases 164,259 Shares of Newmont Corporation $NEM

Key Points

• Oppenheimer acquired 164,259 Newmont shares worth approximately $18.95 million, while institutional investors collectively own 68.85% of the company.
• Newmont reported strong quarterly results, with adjusted EPS of $2.20 beating the $1.94 estimate and revenue rising 15.2% year over year to $6.36 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $137.25.
• The company announced a quarterly dividend of $0.26 per share, while investors continue to face risks from cost inflation, higher energy prices and mixed analyst actions, including recent price-target cuts.

Oppenheimer & Co. Inc. acquired a new position in Newmont Corporation (NYSE:NEM - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 164,259 shares of the basic materials company's stock, valued at approximately $18,946,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Center for Financial Planning Inc. lifted its holdings in shares of Newmont by 6.7% in the third quarter. Center for Financial Planning Inc. now owns 1,921 shares of the basic materials company's stock valued at $222,000 after buying an additional 121 shares during the period. Ballast Rock Private Wealth LLC acquired a new position in Newmont during the third quarter worth about $468,000. Park Avenue Securities LLC acquired a new position in Newmont during the third quarter worth about $8,594,000. Verdence Capital Advisors LLC bought a new stake in Newmont in the third quarter worth about $376,000. Finally, Leslie Global Wealth LLC bought a new stake in Newmont in the third quarter worth about $226,000. Institutional investors own 68.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NEM. Wall Street Zen downgraded shares of Newmont from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Royal Bank Of Canada lifted their price objective on shares of Newmont from $135.00 to $155.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 16th. BMO Capital Markets lifted their price objective on shares of Newmont from $135.00 to $145.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 29th. Citigroup boosted their target price on shares of Newmont from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Tuesday, October 20th. Finally, Canadian Imperial Bank of Commerce set a $154.00 target price on shares of Newmont in a research note on Friday, October 16th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Newmont has an average rating of "Moderate Buy" and an average target price of $137.25.

More 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

Newmont Trading Up 1.3%

Shares of NYSE NEM opened at $110.33 on Tuesday. Newmont Corporation has a 12 month low of $76.05 and a 12 month high of $135.29. The company has a market cap of $116.26 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 2.01 and a beta of 0.51. The company has a quick ratio of 2.16, a current ratio of 2.45 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $121.66 and a 200-day simple moving average 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 firm had revenue of $6.36 billion for the quarter, compared to analysts' expectations of $6.27 billion. During the same quarter last year, the business posted $1.71 EPS. Newmont's revenue was up 15.2% on a year-over-year basis. Sell-side analysts predict that Newmont Corporation will post 9.07 EPS for the current year.

Newmont Announces Dividend

The company also recently announced 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 of this dividend is Wednesday, November 25th. Newmont's dividend payout ratio (DPR) is 12.09%.

Insider Transactions at Newmont

In related news, CEO Natascha Viljoen sold 7,764 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the completion of the transaction, the chief executive officer owned 135,235 shares of the company's stock, valued at approximately $14,064,440. This trade represents a 5.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total transaction of $344,430.00. Following the transaction, the executive vice president owned 34,315 shares in the company, valued at approximately $3,939,705.15. The trade was a 8.04% 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. Insiders have sold a total of 35,973 shares of company stock valued at $3,927,169 over the last ninety days. Corporate insiders own 0.06% of the company's stock.

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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