Randolph Co Inc Buys New Shares in Newmont Corporation $NEM

Key Points

• Randolph Co. Inc. acquired 489,416 Newmont shares worth approximately $56.4 million in the third quarter, making Newmont its sixth-largest holding at 4.5% of the portfolio. Institutional investors and hedge funds collectively own 68.85% of Newmont.
• Newmont reported strong third-quarter results, with adjusted EPS of $2.20 beating estimates and revenue rising 15.2% year over year to $6.36 billion. Free cash flow reached about $1.9 billion, and the company declared a $0.26 quarterly dividend.
• Despite positive earnings momentum and a “Moderate Buy” consensus rating with a $137.25 price target, analysts remain mixed as Newmont faces higher 2026 costs, increased Red Chris capital spending and concerns that its rally has priced in much of its future cash-flow potential.

Randolph Co Inc purchased a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 489,416 shares of the basic materials company's stock, valued at approximately $56,449,000. Newmont makes up approximately 4.5% of Randolph Co Inc's holdings, making the stock its 6th biggest holding.

A number of other hedge funds have also made changes to their positions in NEM. Radnor Capital Management LLC acquired a new stake in shares of Newmont in the 3rd quarter valued at about $3,893,000. Brucke Financial Inc. acquired a new position in Newmont in the third quarter worth about $544,000. Signaturefd LLC acquired a new position in Newmont in the third quarter worth about $2,344,000. BG Investment Services LLC acquired a new position in Newmont in the third quarter worth about $374,000. Finally, Evanson Financial LLC bought a new stake in Newmont in the third quarter valued at about $318,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Canaccord Genuity Group cut their price objective on Newmont from $160.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday, July 23rd. TD Cowen reduced their target price on Newmont from $133.00 to $131.00 in a report on Tuesday, October 20th. The Goldman Sachs Group decreased their target price on Newmont from $127.50 to $119.00 in a research report on Thursday, October 8th. TD boosted their price target on Newmont from $127.00 to $133.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. Finally, BMO Capital Markets boosted their price target on Newmont from $135.00 to $145.00 and gave the company an "outperform" rating in a report on Tuesday, September 29th. Two 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $137.25.

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont reported third-quarter adjusted EPS of $2.20, above the $1.94 consensus estimate, while revenue rose 15.2% year over year to $6.36 billion, exceeding expectations. Higher gold prices, stronger sales and improved copper output following the Cadia recovery supported results. Newmont beats quarterly profit estimates on higher gold prices
• Positive Sentiment: Operating momentum and cash generation were favorable: third-quarter free cash flow reached approximately $1.9 billion, and management said the company remains positioned to meet its 2026 production guidance. Newmont also declared a quarterly dividend of $0.26 per share. Newmont: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Newmont expects gold production to rebound in 2027, offering a potential future catalyst. RBC Dominion Securities maintained an outperform view and set a $155 price target. RBC Dominion Securities recommendations
• Neutral Sentiment: The company priced the Red Chris block-cave expansion at as much as $4.8 billion, with commercial production targeted for 2033. The project could support long-term growth but adds significant capital requirements and execution risk. Newmont prices Red Chris expansion at up to $4.8B
• Negative Sentiment: Newmont raised its full-year 2026 all-in sustaining cost outlook to approximately $1,520 per ounce. Management also highlighted higher costs, declining silver production and increased capital spending related to Red Chris, tempering the earnings upside. Newmont targets Red Chris production in 2033
• Negative Sentiment: Analyst sentiment was mixed. TD Cowen lowered its price target to $131 from $133, while Freedom Broker downgraded the stock to hold and cut its target to $116. Concerns that Newmont’s strong multiyear rally has already priced in much of its cash-flow potential may be limiting investor enthusiasm. Freedom Broker downgrades Newmont to hold

Newmont Trading Down 0.1%

Newmont stock opened at $108.72 on Monday. The firm's 50-day moving average is $121.86 and its 200-day moving average is $110.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.16 and a current ratio of 2.45. Newmont Corporation has a 1 year low of $76.05 and a 1 year high of $135.29. The company has a market cap of $112.98 billion, a P/E ratio of 12.64, a PEG ratio of 2.01 and a beta of 0.51.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The basic materials company reported $2.20 EPS for the quarter, beating the consensus estimate of $1.94 by $0.26. Newmont had a net margin of 34.73% and a return on equity of 29.81%. The business had revenue of $6.36 billion during the quarter, compared to analyst estimates of $6.27 billion. During the same period in the previous year, the business posted $1.71 EPS. The company's quarterly revenue was up 15.2% on a year-over-year basis. On average, equities analysts expect that Newmont Corporation will post 9.07 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Wednesday, November 25th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, November 25th. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. Newmont's dividend payout ratio (DPR) is currently 12.09%.

Insider Buying and Selling at Newmont

In other Newmont news, CEO Natascha Viljoen sold 7,764 shares of Newmont stock in a transaction that occurred on Wednesday, August 5th. The stock was 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 directly owned 135,235 shares in the company, valued at $14,064,440. The trade was a 5.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total value of $344,430.00. Following the transaction, the executive vice president directly owned 34,315 shares of the company's stock, valued at $3,939,705.15. This trade represents a 8.04% 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. Insiders sold a total of 35,973 shares of company stock worth $3,927,169 over the last ninety days. Company insiders own 0.06% of the company's stock.

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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