Pekin Hardy Strauss Inc. Purchases New Holdings in Newmont Corporation $NEM

Key Points

• Pekin Hardy Strauss initiated a position in Newmont, buying 25,815 shares valued at approximately $2.98 million during the third quarter. Several other institutional investors also disclosed new stakes; institutions and hedge funds collectively own 68.85% of the stock.
• Newmont beat quarterly earnings and revenue expectations, reporting EPS of $2.20 versus $1.94 expected and revenue of $6.36 billion, up 15.2% year over year.
• The company declared a quarterly dividend of $0.26 per share, equivalent to $1.04 annually and a 0.9% yield. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $137.20.

Pekin Hardy Strauss Inc. purchased a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 25,815 shares of the basic materials company's stock, valued at approximately $2,977,000.

Other hedge funds also recently made changes to their positions in the company. Ullmann Wealth Partners Group LLC acquired a new position in Newmont in the third quarter valued at $212,000. Westside Investment Management Inc. purchased a new stake in Newmont during the third quarter valued at about $90,000. Kestra Advisory Services LLC acquired a new stake in Newmont during the third quarter worth about $11,946,000. Claro Advisors Inc. acquired a new stake in Newmont during the third quarter worth about $628,000. Finally, REAP Financial Group LLC acquired a new stake in Newmont during the third quarter worth about $39,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Stock Performance

NYSE:NEM opened at $119.74 on Friday. The firm's fifty day simple moving average is $119.10 and its 200 day simple moving average is $112.47. The company has a current ratio of 2.45, a quick ratio of 2.16 and a debt-to-equity ratio of 0.15. Newmont Corporation has a twelve month low of $81.34 and a twelve month high of $135.29. The firm has a market capitalization of $124.43 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 2.15 and a beta of 0.56.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $6.27 billion. During the same period in the prior year, the firm earned $1.71 EPS. The firm's quarterly revenue was up 15.2% compared to the same quarter last year. As a group, equities research analysts expect that Newmont Corporation will post 9.14 earnings per share for the current fiscal year.

Newmont Announces Dividend

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

Insider Activity

In related news, CEO Natascha Viljoen sold 3,882 shares of the firm's stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $108.04, for a total transaction of $419,411.28. Following the sale, the chief executive officer directly owned 101,691 shares in the company, valued at approximately $10,986,695.64. This trade represents a 3.68% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 dated Monday, November 2nd. The shares were sold at an average price of $108.04, for a total value of $324,120.00. Following the sale, the executive vice president owned 31,315 shares in the company, valued at approximately $3,383,272.60. The trade was a 8.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 20,646 shares of company stock valued at $2,380,140 in the last ninety days. Company insiders own 0.06% of the company's stock.

Newmont News Summary

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont’s strong third-quarter performance—higher sales and net income, lower reported costs, and upgraded full-year production guidance—supports the bullish view. The report also points to a recent sharp rise in the shares. Article: Is Newmont Still Undervalued?
• Positive Sentiment: Scotiabank raised its 2026 EPS estimate to $9.23 from $8.96 and maintained a Sector Outperform rating with a $148 price target, signaling confidence in near-term earnings. Article: Scotiabank raises Newmont 2026 EPS estimate
• Positive Sentiment: Newmont’s free cash flow is helping fund growth projects and additional shareholder returns, potentially supporting longer-term value. Article: Can Newmont’s Free Cash Flow Momentum Carry Into Q4?
• Neutral Sentiment: Scotiabank lowered its 2027 EPS estimate to $9.03 from $9.14, though it retained its Sector Outperform rating and $148 target. The adjustment tempers, but does not overturn, its positive stance. Article: Scotiabank adjusts Newmont EPS estimates
• Neutral Sentiment: A Zacks article highlighted Newmont as a potential long-term growth stock, but provided no company-specific new catalyst in the supplied summary. Article: Newmont as a Long-Term Growth Stock
• Negative Sentiment: EVP Peter Toth sold 3,000 shares, a modest potential sentiment overhang; the sale was made under a prearranged trading plan. Article: Newmont EVP Sells Shares

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Argus set a $110.00 price objective on Newmont and gave the stock a "buy" rating in a report on Monday, August 3rd. Freedom Broker cut Newmont from a "buy" rating to a "hold" rating and decreased their target price for the stock from $130.00 to $116.00 in a report on Thursday, October 22nd. Wall Street Zen downgraded shares of Newmont from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Sanford C. Bernstein increased their target price on shares of Newmont from $144.00 to $150.00 in a research report on Friday, October 16th. Finally, Royal Bank Of Canada raised their price target on shares of Newmont from $135.00 to $155.00 and gave the company an "outperform" rating in a report on Wednesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $137.20.

About Newmont

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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