Wedbush Securities Inc. Makes New $2.55 Million Investment in Newmont Corporation $NEM

Key Points

• Wedbush Securities initiated a $2.55 million position in Newmont by purchasing 22,109 shares during the third quarter. Institutional investors collectively own 68.85% of the company.
• Newmont reported strong quarterly results, with adjusted EPS of $2.20 and revenue of $6.36 billion, both exceeding analyst expectations. The company also generated approximately $1.9 billion in free cash flow and declared a $0.26 quarterly dividend.
• Despite strong earnings, Newmont faces higher costs and capital demands, including a raised 2026 all-in sustaining cost outlook of about $1,520 per ounce and up to $4.8 billion for the Red Chris expansion. Analyst sentiment remains mixed, with some firms lowering price targets or downgrading the stock.

Wedbush Securities Inc. bought a new stake in shares of Newmont Corporation (NYSE:NEM - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 22,109 shares of the basic materials company's stock, valued at approximately $2,550,000.

Other hedge funds have also made changes to their positions in the company. Capital City Trust Co. FL bought a new stake in shares of Newmont in the 3rd quarter valued at about $577,000. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Newmont in the 3rd quarter worth approximately $1,769,000. Sterling Capital Management LLC bought a new position in shares of Newmont during the third quarter valued at approximately $12,236,000. TSA Wealth Managment LLC bought a new position in shares of Newmont during the third quarter valued at approximately $227,000. Finally, XXI Wealth LLC bought a new position in shares of Newmont during the third quarter valued at approximately $1,121,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont reported third-quarter adjusted EPS of $2.20, above the $1.94 consensus estimate, while revenue rose 15.2% year over year to $6.36 billion, exceeding expectations. Higher gold prices, stronger sales and improved copper output following the Cadia recovery supported results. Newmont beats quarterly profit estimates on higher gold prices
• Positive Sentiment: Operating momentum and cash generation were favorable: third-quarter free cash flow reached approximately $1.9 billion, and management said the company remains positioned to meet its 2026 production guidance. Newmont also declared a quarterly dividend of $0.26 per share. Newmont: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Newmont expects gold production to rebound in 2027, offering a potential future catalyst. RBC Dominion Securities maintained an outperform view and set a $155 price target. RBC Dominion Securities recommendations
• Neutral Sentiment: The company priced the Red Chris block-cave expansion at as much as $4.8 billion, with commercial production targeted for 2033. The project could support long-term growth but adds significant capital requirements and execution risk. Newmont prices Red Chris expansion at up to $4.8B
• Negative Sentiment: Newmont raised its full-year 2026 all-in sustaining cost outlook to approximately $1,520 per ounce. Management also highlighted higher costs, declining silver production and increased capital spending related to Red Chris, tempering the earnings upside. Newmont targets Red Chris production in 2033
• Negative Sentiment: Analyst sentiment was mixed. TD Cowen lowered its price target to $131 from $133, while Freedom Broker downgraded the stock to hold and cut its target to $116. Concerns that Newmont’s strong multiyear rally has already priced in much of its cash-flow potential may be limiting investor enthusiasm. Freedom Broker downgrades Newmont to hold

Newmont Stock Down 4.7%

NYSE:NEM opened at $108.72 on Friday. The company's 50-day simple moving average is $121.86 and its 200-day simple moving average is $110.99. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. Newmont Corporation has a fifty-two week low of $76.05 and a fifty-two week high of $135.29. The stock has a market capitalization of $114.55 billion, a P/E ratio of 12.64, a P/E/G ratio of 2.02 and a beta of 0.51.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The basic materials company reported $2.20 EPS for the quarter, topping the consensus estimate of $1.94 by $0.26. Newmont had a net margin of 34.73% and a return on equity of 30.02%. The firm had revenue of $6.36 billion during the quarter, compared to analyst estimates of $6.27 billion. During the same quarter in the previous year, the business posted $1.71 EPS. Newmont's revenue was up 15.2% on a year-over-year basis. On average, equities analysts anticipate that Newmont Corporation will post 9.07 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Wednesday, November 25th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, November 25th. Newmont's dividend payout ratio (DPR) is 12.09%.

Insiders Place Their Bets

In other news, CEO Natascha Viljoen sold 7,764 shares of the firm's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total value of $807,456.00. Following the completion of the sale, the chief executive officer owned 135,235 shares of the company's stock, valued at $14,064,440. This trade represents a 5.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $344,430.00. Following the completion of the sale, the executive vice president directly owned 34,315 shares of the company's stock, valued at $3,939,705.15. The trade was a 8.04% 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. Over the last three months, insiders have sold 35,973 shares of company stock valued at $3,927,169. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Barclays cut their price objective on shares of Newmont from $124.00 to $123.00 and set an "overweight" rating on the stock in a report on Monday, October 19th. The Goldman Sachs Group lowered their target price on Newmont from $127.50 to $119.00 in a report on Thursday, October 8th. RBC Dominion Securities set a $155.00 target price on Newmont and gave the company an "outperform" rating in a research report on Thursday. Argus set a $110.00 price target on Newmont and gave the company a "buy" rating in a report on Monday, August 3rd. Finally, Jefferies Financial Group lifted their price target on Newmont from $146.00 to $155.00 in a report on Friday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $137.25.

Newmont 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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