Prestige Wealth Management Group LLC Decreases Stock Holdings in Newmont Corporation $NEM

Key Points

• Prestige Wealth Management Group LLC sharply cut its Newmont stake in the first quarter, reducing holdings by 97.9% to just 323 shares after selling 15,357 shares.
• Newmont reported Q2 earnings of $2.10 per share, beating estimates, and posted record free cash flow of $2.2 billion while reaffirming full-year production guidance.
• Despite the strong results, the stock remains under watch as gold price volatility and recent analyst target cuts could affect near-term sentiment, even though Wall Street still rates Newmont a Moderate Buy.

Prestige Wealth Management Group LLC lowered its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 97.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 323 shares of the basic materials company's stock after selling 15,357 shares during the period. Prestige Wealth Management Group LLC's holdings in Newmont were worth $35,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Newmont by 0.5% in 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 in the last quarter. State Street Corp raised 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 purchasing an additional 480,223 shares during the period. Van ECK Associates Corp lifted its stake in shares of Newmont by 23.4% during the fourth quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company's stock worth $2,973,539,000 after purchasing an additional 5,643,496 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Newmont by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company's stock worth $2,738,756,000 after purchasing an additional 946,824 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Newmont in the fourth quarter worth about $1,443,128,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont News Summary

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont posted Q2 earnings of $2.10 per share, topping estimates, and said it generated record second-quarter free cash flow of $2.2 billion. Newmont Reports Robust Second Quarter 2026 Results; Remains on Track to Achieve Full Year Guidance
• Positive Sentiment: The company produced about 1.3 million attributable gold ounces and reaffirmed full-year production guidance, signaling stable operating performance despite weaker gold prices. Newmont Reports Higher Profit Despite Lower Gold Prices
• Positive Sentiment: Management also declared a quarterly dividend of $0.261 per share, which may support investor sentiment. Newmont Reports Robust Second Quarter 2026 Results; Remains on Track to Achieve Full Year Guidance
• Neutral Sentiment: Several reports highlighted that Newmont is benefiting from still-favorable gold pricing overall, though the metal has recently corrected and remains a key driver of near-term sentiment. Newmont tops profit estimates on higher gold prices, sees steady output
• Negative Sentiment: Gold prices fell sharply during the quarter, which could weigh on future revenue and explains some of the stock’s recent volatility. Newmont shrugs off 13% gold-price correction with record second-quarter free cash flow, tops earnings estimates

Insider Activity at Newmont

In other news, insider David John Thornton sold 2,296 shares of the business's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the sale, the insider owned 23,163 shares of the company's stock, valued at approximately $2,550,477.93. The trade was a 9.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 Wexler sold 13,378 shares of the company's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the completion of the sale, the executive vice president owned 67,865 shares in the company, valued at approximately $7,472,615.15. This trade represents a 16.47% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 28,556 shares of company stock valued at $3,058,146. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NEM. Weiss Ratings lowered Newmont from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, June 17th. TD Cowen reissued a "buy" rating on shares of Newmont in a research report on Monday, April 27th. Canaccord Genuity Group upped their price target on Newmont from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Bank of America lowered their price objective on shares of Newmont from $157.00 to $132.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Finally, Royal Bank Of Canada dropped their price objective on shares of Newmont from $140.00 to $135.00 and set an "outperform" rating on the stock in a research note on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $136.26.

Newmont Stock Down 1.2%

Shares of NYSE NEM opened at $94.57 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. Newmont Corporation has a 1 year low of $59.96 and a 1 year high of $134.88. The stock's 50-day simple moving average is $100.25 and its 200-day simple moving average is $110.06. The firm has a market cap of $100.95 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 1.14 and a beta of 0.46.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.05. Newmont had a return on equity of 27.84% and a net margin of 33.87%.During the same period in the prior year, the company earned $1.43 earnings per share. As a group, equities analysts anticipate that Newmont Corporation will post 8.9 earnings per share for the current fiscal year.

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.

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.