TD Waterhouse Canada Inc. Purchases New Holdings in Newmont Corporation $NEM

Key Points

• TD Waterhouse Canada acquired 540,027 Newmont shares worth approximately $11.3 million, representing about 0.05% of the company. Institutional investors and hedge funds collectively own 68.85% of Newmont.
• Newmont reported quarterly EPS of $2.10, exceeding analyst expectations of $2.05, though revenue of $6.12 billion fell short of the $6.35 billion consensus estimate.
• The company declared a quarterly dividend of $0.26 per share, equal to $1.04 annually and a 0.8% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $132.73.

TD Waterhouse Canada Inc. acquired a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 540,027 shares of the basic materials company's stock, valued at approximately $11,287,000. TD Waterhouse Canada Inc. owned approximately 0.05% of Newmont as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Newmont in the second quarter worth $11,289,753,000. State Street Corp lifted its stake in Newmont by 1.0% in the 4th quarter. State Street Corp now owns 49,959,850 shares of the basic materials company's stock worth $4,988,491,000 after acquiring an additional 480,223 shares in the last quarter. Van ECK Associates Corp purchased a new stake in Newmont in the 2nd quarter worth about $671,197,000. Geode Capital Management LLC boosted its position in Newmont by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company's stock worth $2,738,756,000 after acquiring an additional 946,824 shares during the period. Finally, Norges Bank purchased a new position in Newmont during the 4th quarter valued at about $1,443,128,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Down 1.8%

NEM opened at $128.09 on Friday. The company has a market capitalization of $134.97 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 1.80 and a beta of 0.52. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. Newmont Corporation has a fifty-two week low of $75.21 and a fifty-two week high of $135.29. The business has a 50-day moving average of $107.18 and a 200-day moving average of $109.72.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, beating the consensus estimate of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The business had revenue of $6.12 billion during the quarter, compared to analysts' expectations of $6.35 billion. During the same quarter in the previous year, the business posted $1.43 EPS. Equities research analysts forecast that Newmont Corporation will post 9.01 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. Shareholders of record on Thursday, September 3rd will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, September 3rd. Newmont's payout ratio is currently 13.13%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NEM shares. Raymond James Financial reiterated an "outperform" rating and issued a $140.00 target price on shares of Newmont in a report on Monday, August 24th. BNP Paribas Exane lowered their price objective on shares of Newmont from $111.00 to $102.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 21st. Canaccord Genuity Group dropped their price objective on shares of Newmont from $160.00 to $130.00 and set a "buy" rating on the stock in a research note on Thursday, July 23rd. UBS Group cut their target price 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. Finally, The Goldman Sachs Group decreased their target price on shares of Newmont from $122.50 to $111.40 and set a "buy" rating for the company in a research note on Wednesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $132.73.

Key Stories Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Gold prices recently advanced as the U.S. dollar and Treasury yields eased, lifting gold-mining stocks. Newmont’s latest quarterly update also highlighted record free cash flow of approximately $2.2 billion, about 1.3 million attributable gold ounces, maintained 2026 production guidance and a declared $0.26-per-share dividend. Newmont stock analysis
• Positive Sentiment: Wall Street’s average recommendation remains equivalent to a Buy, while recent analyst targets generally imply additional upside. Newmont is also being presented as an income-producing gold hedge, supported by strong cash generation, low leverage and a roughly 0.8% dividend yield. Analyst outlook for Newmont
• Neutral Sentiment: Newmont’s $1.95 billion payment to Barrick finalized its Nevada Gold Mines joint-venture settlement, giving the company greater control of a major production base. The move may improve long-term operating flexibility but also represents a substantial capital outlay. Nevada Gold Mines agreement
• Negative Sentiment: CEO Natascha Viljoen sold 3,882 shares and EVP Peter Toth sold 3,000 shares at $123 per share. Both transactions were made under pre-arranged Rule 10b5-1 plans, limiting their signaling value, but reported insider activity has consisted of sales and no purchases over the past six months. Newmont insider sales
• Negative Sentiment: Elevated Treasury yields remain a headwind for gold because they increase the opportunity cost of holding a non-yielding asset. Analysts also caution that mining costs, energy prices and interest-rate volatility could pressure margins and valuation multiples. Gold-mining sector outlook

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $123.00, for a total transaction of $369,000.00. Following the transaction, the executive vice president owned 37,315 shares in the company, valued at $4,589,745. This represents a 7.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of Newmont stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the sale, the chief financial officer directly owned 29,324 shares of the company's stock, valued at approximately $3,081,659.16. The trade was a 28.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 32,091 shares of company stock worth $3,414,187 in the last 90 days. 0.06% of the stock is owned by insiders.

Newmont 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.

Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Corporation (NYSE:NEM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source