Summit Global Investments Invests $6.34 Million in Newmont Corporation $NEM

Key Points

• Summit Global Investments acquired 67,913 Newmont shares during the second quarter, valued at approximately $6.34 million. Institutional investors collectively own 68.85% of the company.
• 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 forecast. The company also declared a quarterly dividend of $0.26 per share.
• Analyst sentiment remains moderately bullish, with a consensus “Moderate Buy” rating and a $132.59 target price, though investors face risks from lower production, rising costs and recent insider selling.

Summit Global Investments bought a new stake in shares of Newmont Corporation (NYSE:NEM - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 67,913 shares of the basic materials company's stock, valued at approximately $6,343,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Pinnacle Bancorp Inc. purchased a new stake in shares of Newmont in the 1st quarter worth $25,000. Cedar Mountain Advisors LLC purchased a new position in shares of Newmont during the first quarter valued at $25,000. Swiss RE Ltd. purchased a new position in shares of Newmont during the fourth quarter valued at $26,000. Cornerstone Planning Group LLC raised its holdings in shares of Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock valued at $27,000 after acquiring an additional 206 shares in the last quarter. Finally, JPL Wealth Management LLC purchased a new stake in Newmont in the third quarter worth about $27,000. 68.85% of the stock is currently owned by institutional investors.

Trending Headlines about Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: New Nevada earn-in agreement: Newmont signed an agreement with Headwater Gold to earn an interest in the Jupiter Project, a potential district-scale epithermal gold project in Nevada. The deal expands Newmont’s exploration pipeline and could provide additional future resource growth. Headwater Gold and Newmont sign earn-in agreement for Jupiter project
• Positive Sentiment: Gold-market support: Gold prices near record levels are improving the outlook for gold producers such as Newmont and have been a major factor behind the company’s recent rally. Newmont’s Nevada agreements, including the Jupiter earn-in and its Spring Peak joint venture, further support investor interest in future production growth. Is Newmont in the spotlight as gold sits near record highs?
• Positive Sentiment: Optimistic analyst outlook: TD Securities and Scotiabank reportedly expect further appreciation in Newmont’s stock. Recent analyst targets compiled in market commentary show a median target of approximately $145.50, above the current trading level, although targets remain sensitive to gold prices and operating execution. Newmont stock price expected to rise, TD analyst says
• Positive Sentiment: Unusual options activity: Traders purchased 47,733 NEM call options, roughly 119% above average call volume. This indicates heightened bullish positioning, though options activity can also reflect short-term speculation rather than a change in fundamentals.
• Neutral Sentiment: Valuation debate: One analysis estimates Newmont could be about 19% undervalued following its Nevada deals, while another notes that the recent rally may already reflect much of the benefit from higher gold prices. Newmont could be 19% undervalued following Nevada gold deals
• Negative Sentiment: Operating risks and profit-taking: Analysts continue to flag lower production, rising costs and potentially weaker estimates. Investors are also monitoring uncertainty surrounding Nevada Gold Mines, Barrick’s Fourmile project and the valuation of the joint venture.
• Negative Sentiment: Insider selling: Reported insider activity shows 15 open-market sales and no purchases over the past six months, including sales by senior executives. This may weigh on sentiment, though insider transactions do not necessarily indicate a change in the company’s outlook.

Newmont Stock Performance

NYSE NEM opened at $117.80 on Friday. The stock has a market capitalization of $124.12 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 1.27 and a beta of 0.47. Newmont Corporation has a twelve month low of $67.20 and a twelve month high of $134.88. The company has a current ratio of 2.55, a quick ratio of 2.26 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average of $98.93 and a 200 day moving average of $108.98.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.05 by $0.05. The company had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same quarter in the prior year, the business posted $1.43 earnings per share. Sell-side analysts anticipate that Newmont Corporation will post 9 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd will be given a dividend of $0.26 per share. The ex-dividend date is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. Newmont's dividend payout ratio (DPR) is 13.13%.

Analysts Set New Price Targets

Several research analysts have issued reports on NEM shares. 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 report on Monday, June 15th. Scotiabank boosted their price objective on shares of Newmont from $147.00 to $149.00 and gave the stock an "outperform" rating in a research note on Wednesday. Argus set a $110.00 price target on Newmont in a report on Monday, August 3rd. UBS Group cut their price objective on shares of Newmont from $140.00 to $120.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. Finally, Weiss Ratings lowered Newmont from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, June 17th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Newmont currently has an average rating of "Moderate Buy" and a consensus target price of $132.59.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $93.45, for a total value of $280,350.00. Following the completion of the sale, the executive vice president owned 40,315 shares of the company's stock, valued at approximately $3,767,436.75. The trade was a 6.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of the company's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction of $807,456.00. Following the transaction, the chief executive officer owned 135,235 shares of the company's stock, valued at $14,064,440. This represents a 5.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 32,091 shares of company stock valued at $3,292,513. 0.06% of the stock is owned by company insiders.

About Newmont

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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