TD Waterhouse Canada Inc. Makes New Investment in Newmont Corporation $NEM

Key Points

• TD Waterhouse Canada Inc. acquired 564,461 Newmont shares worth approximately $64.8 million in the third quarter, while institutional investors collectively own 68.85% of the company.
• Newmont shares rose 2.3% to $118.40, and the company reported quarterly EPS of $2.10, slightly above analyst expectations. Newmont also maintains a quarterly dividend of $0.26 per share, equivalent to a 0.9% yield.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $133.50, but investors face near-term uncertainty from potentially weaker production, higher costs, and notable insider selling ahead of the October 22 earnings release.

TD Waterhouse Canada Inc. bought a new stake in shares of Newmont Corporation (NYSE:NEM - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 564,461 shares of the basic materials company's stock, valued at approximately $64,801,000. TD Waterhouse Canada Inc. owned approximately 0.05% of Newmont as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Cedar Mountain Advisors LLC bought a new stake in Newmont in the 1st quarter worth approximately $25,000. Pinnacle Bancorp Inc. bought a new position in shares of Newmont during the 1st quarter valued at approximately $25,000. GoalVest Advisory LLC bought a new position in shares of Newmont during the 3rd quarter valued at approximately $28,000. Clearstead Trust LLC bought a new position in shares of Newmont during the 2nd quarter valued at approximately $25,000. Finally, Kilter Group LLC purchased a new position in shares of Newmont in the second quarter valued at $26,000. 68.85% of the stock is owned by institutional investors.

Newmont Trading Up 2.3%

NEM stock traded up $2.61 during midday trading on Friday, reaching $118.40. The company's stock had a trading volume of 8,379,506 shares, compared to its average volume of 5,899,931. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The stock has a fifty day simple moving average of $122.06 and a two-hundred day simple moving average of $110.84. Newmont Corporation has a 1 year low of $76.05 and a 1 year high of $135.29. The firm has a market capitalization of $124.76 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 2.14 and a beta of 0.51.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.05. The business had revenue of $6.12 billion during 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 period last year, the company earned $1.43 earnings per share. On average, equities research analysts predict that Newmont Corporation will post 9.05 EPS for the current year.

Newmont Dividend Announcement

The business 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 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, September 3rd. Newmont's payout ratio is 13.13%.

Key Stories 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.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Argus set a $110.00 price target on shares of Newmont in a research report on Monday, August 3rd. UBS Group lowered their price objective on shares of Newmont from $140.00 to $120.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Royal Bank Of Canada lifted their price objective on shares of Newmont from $135.00 to $155.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 16th. Sanford C. Bernstein reduced their target price on shares of Newmont from $147.00 to $144.00 and set an "outperform" rating on the stock in a report on Wednesday, September 9th. Finally, TD boosted their target price on shares of Newmont from $127.00 to $133.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $133.50.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction dated 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 in the company, valued at $3,939,705.15. This represents a 8.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the firm's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total transaction of $445,692.42. Following the transaction, the chief executive officer directly owned 127,471 shares in the company, valued at approximately $14,634,945.51. This trade represents a 2.96% 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 valued at $3,927,169 in the last three months. Company insiders own 0.06% of the company's stock.

Newmont Profile

Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company's activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.

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