SteelPeak Wealth LLC Acquires 33,174 Shares of Newmont Corporation $NEM

Key Points

• SteelPeak Wealth LLC acquired 33,174 Newmont shares during the third quarter, worth approximately $3.83 million. Institutional investors and hedge funds collectively own 68.85% of Newmont’s outstanding stock.
• Newmont reported quarterly EPS of $2.10, beating estimates of $2.05, while revenue of $6.12 billion fell short of the $6.35 billion consensus. The company also pays a quarterly dividend of $0.26, equivalent to a 0.9% annualized yield.
• Analysts maintain a generally positive outlook, with Newmont carrying a “Moderate Buy” consensus rating and an average price target of $133.50. However, recent insider sales and concerns about production and costs could contribute to volatility ahead of earnings.

SteelPeak Wealth LLC bought a new stake in Newmont Corporation (NYSE:NEM - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 33,174 shares of the basic materials company's stock, valued at approximately $3,826,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. boosted its position in Newmont by 0.6% during the 1st quarter. Blue Trust Inc. now owns 17,194 shares of the basic materials company's stock worth $1,861,000 after purchasing an additional 100 shares during the period. Accel Wealth Management increased its holdings in Newmont by 0.8% in the 2nd quarter. Accel Wealth Management now owns 14,744 shares of the basic materials company's stock valued at $1,377,000 after purchasing an additional 115 shares in the last quarter. Bell Investment Advisors Inc raised its position in Newmont by 41.8% in the first quarter. Bell Investment Advisors Inc now owns 397 shares of the basic materials company's stock valued at $43,000 after purchasing an additional 117 shares during the period. Compound Planning Inc. raised its position in Newmont by 0.6% in the first quarter. Compound Planning Inc. now owns 21,192 shares of the basic materials company's stock valued at $2,294,000 after purchasing an additional 121 shares during the period. Finally, Zhang Financial LLC raised its position in Newmont by 0.8% in the first quarter. Zhang Financial LLC now owns 15,768 shares of the basic materials company's stock valued at $1,707,000 after purchasing an additional 124 shares during the period. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Price Performance

Shares of NEM stock opened at $118.40 on Friday. The firm has a fifty day simple moving average of $122.06 and a 200-day simple moving average of $110.84. The company has a market capitalization of $124.76 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 2.20 and a beta of 0.51. Newmont Corporation has a twelve month low of $76.05 and a twelve month high of $135.29. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The firm had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.35 billion. During the same quarter in the previous year, the firm posted $1.43 EPS. Equities research analysts anticipate that Newmont Corporation will post 9.05 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, September 3rd. Newmont's dividend payout ratio is presently 13.13%.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the business's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total value of $1,202,755.05. Following the completion of the transaction, the chief financial officer owned 29,324 shares in the company, valued at approximately $3,081,659.16. This trade represents a 28.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 35,973 shares of company stock worth $3,927,169 over the last ninety days. Corporate insiders own 0.06% of the company's stock.

Key Headlines Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Gold prices recently rose more than 1% as the U.S. dollar weakened and Treasury yields eased, improving the outlook for gold miners’ revenue and margins. Newmont is also benefiting from strong prior-quarter free cash flow, share repurchases and its ability to remain on track with 2026 guidance. Newmont rises as gold strengthens and investors look ahead to earnings
• Positive Sentiment: Analyst sentiment has improved. Bernstein raised its Newmont price target to $150 from $144, while the broader consensus target was reported at CHF 121.57, up 10.84%. Jefferies also reaffirmed a Buy rating, reinforcing expectations for further upside if gold remains strong. Bernstein Adjusts Price Target on Newmont Newmont consensus price target raised
• Positive Sentiment: Investors are positioning ahead of Newmont’s October 22 third-quarter earnings release. Wall Street expects earnings growth, helped by higher gold prices and potentially improved margins, while the company’s previous quarter showed strong cash generation and production execution. Newmont Corporation reports next week
• Neutral Sentiment: Newmont completed the sale of its Northumberland asset. The transaction may simplify the portfolio and support capital allocation, but the immediate earnings impact was not specified. Newmont completes Northumberland sale
• Negative Sentiment: Earnings expectations are mixed: higher gold prices could be offset by weaker production and higher costs, making the October 22 report a key near-term catalyst and volatility risk. NEM to Report Q3 Earnings
• Negative Sentiment: Insider-trading data shows 13 open-market sales and no purchases over the past six months, including sales by senior executives. This may weigh on sentiment, although insider transactions do not necessarily reflect company fundamentals.

Wall Street Analysts Forecast Growth

NEM has been the subject of several analyst reports. The Goldman Sachs Group decreased their target price on Newmont from $122.50 to $111.40 and set a "buy" rating for the company in a research report on Wednesday, July 1st. Canaccord Genuity Group dropped their target price on Newmont from $160.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, July 23rd. Weiss Ratings upgraded Newmont from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, October 2nd. Zacks Research lowered Newmont from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 14th. Finally, UBS Group reduced their price target on Newmont from $140.00 to $120.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Newmont has an average rating of "Moderate Buy" and an average target price of $133.50.

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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