Summit Global Investments Decreases Holdings in Newmont Corporation $NEM

Key Points

• Summit Global Investments cut its Newmont stake by 12.9% in the first quarter, selling 11,259 shares and leaving it with 76,322 shares worth about $8.26 million.
• Newmont reported strong quarterly earnings, posting $2.90 EPS versus the $2.07 estimate and revenue of $7.31 billion, with revenue up 45.8% year over year.
• The company also paid a quarterly dividend of $0.26 per share, equal to an annualized yield of about 1.2%, while analysts currently rate the stock a Moderate Buy with a consensus price target of $136.26.

Summit Global Investments reduced its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 12.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 76,322 shares of the basic materials company's stock after selling 11,259 shares during the quarter. Newmont makes up 0.5% of Summit Global Investments' investment portfolio, making the stock its 26th biggest holding. Summit Global Investments' holdings in Newmont were worth $8,262,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Apella Capital LLC boosted its holdings in Newmont by 4.1% in the fourth quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company's stock valued at $219,000 after purchasing an additional 86 shares in the last quarter. New Wave Wealth Advisors LLC raised its holdings in Newmont by 1.3% during the fourth quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company's stock worth $684,000 after purchasing an additional 88 shares in the last quarter. Novem Group raised its holdings in Newmont by 3.7% during the fourth quarter. Novem Group now owns 2,487 shares of the basic materials company's stock worth $248,000 after purchasing an additional 88 shares in the last quarter. Norden Group LLC lifted its position in shares of Newmont by 0.7% during the 4th quarter. Norden Group LLC now owns 12,367 shares of the basic materials company's stock worth $1,235,000 after buying an additional 90 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in shares of Newmont by 1.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company's stock worth $714,000 after buying an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insider Buying and Selling at Newmont

In other news, EVP Peter Wexler sold 13,378 shares of the 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 represents a 16.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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, insider David John Thornton sold 2,296 shares of the firm's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $252,812.56. Following the transaction, the insider directly owned 23,163 shares in the company, valued at approximately $2,550,477.93. This represents a 9.02% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders sold a total of 28,556 shares of company stock valued at $3,058,146 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Newmont Stock Performance

Shares of NEM opened at $89.24 on Tuesday. The company's 50 day simple moving average is $101.69 and its 200-day simple moving average is $110.19. The firm has a market cap of $95.26 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 1.03 and a beta of 0.46. Newmont Corporation has a 12-month low of $58.97 and a 12-month high of $134.88. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.07 by $0.83. The firm had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. Newmont's revenue for the quarter was up 45.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 EPS. As a group, equities analysts predict that Newmont Corporation will post 9.25 EPS for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, May 27th. Newmont's dividend payout ratio is presently 13.49%.

Newmont News Roundup

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Several commentary pieces argue Newmont could still be attractive on valuation, suggesting the recent pullback may be creating a potential value opportunity if gold stays firm and earnings hold up. Is Newmont NYSE: NEM Still A Compelling Value Stock?
• Positive Sentiment: Gold’s strength remains a tailwind for Newmont, and one article says the company is facing a “crucial test” as the metal stays strong, which could support revenue and margins if commodity prices remain elevated. Newmont NYSE: NEM Faces a Crucial Test As Gold Stays Strong
• Positive Sentiment: Market chatter ahead of Q2 earnings points to investor interest in key operating metrics, and recent discussion of Newmont as a trading candidate around macro uncertainty suggests the stock could benefit if results exceed expectations. Newmont Stock Suddenly Offers a Double-Sided Debit Trade on U.S.-Iran Tensions and Upcoming Earnings
• Neutral Sentiment: Multiple previews of Newmont’s upcoming Q2 report focus on Wall Street estimates and key metrics, signaling that the stock may remain range-bound until earnings provide clearer direction. Seeking Clues to Newmont (NEM) Q2 Earnings? A Peek Into Wall Street Projections for Key Metrics
• Negative Sentiment: Scotiabank reportedly has a negative outlook for Newmont’s FY2027 earnings, reinforcing concerns that profit growth may slow after the current cycle. Scotiabank Has Negative Outlook for Newmont FY2027 Earnings
• Negative Sentiment: Technical commentary says Newmont shares have fallen to a 2026 low and support is being tested, which points to continued downside pressure unless buyers step in soon. Newmont Shares At 2026 Low, With Support Being Tested

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Macquarie Infrastructure dropped their target price on shares of Newmont from $133.00 to $123.00 and set an "outperform" rating on the stock in a research report on Monday, June 15th. Argus boosted their price target on shares of Newmont from $94.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. BNP Paribas Exane decreased their price objective on shares of Newmont from $128.00 to $111.00 and set a "neutral" rating for the company in a research note on Thursday, June 18th. Canaccord Genuity Group raised their price objective on Newmont from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Finally, TD Securities upgraded Newmont from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Newmont currently has an average rating of "Moderate Buy" and a consensus price target of $136.26.

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.

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