XXI Wealth LLC Purchases 9,717 Shares of Newmont Corporation $NEM

Key Points

• XXI Wealth LLC acquired 9,717 Newmont shares worth approximately $1.12 million in the third quarter, while institutional investors and hedge funds collectively own 68.85% of the company.
• Newmont reported strong third-quarter results, with adjusted EPS of $2.20 and revenue of $6.36 billion, both above analyst expectations. The company also generated about $1.9 billion in free cash flow and declared a quarterly dividend of $0.26 per share.
• Despite the earnings strength, Newmont faces higher projected 2026 costs of roughly $1,520 per ounce, increased capital needs for the $4.8 billion Red Chris expansion, and mixed analyst sentiment; shares recently traded down 4.7% to $108.72.

XXI Wealth LLC acquired a new stake in Newmont Corporation (NYSE:NEM - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,717 shares of the basic materials company's stock, valued at approximately $1,121,000.

Several other hedge funds have also modified their holdings of the business. Cedar Mountain Advisors LLC purchased a new position in Newmont in the first quarter valued at about $25,000. Pinnacle Bancorp Inc. purchased a new position in Newmont in the 1st quarter valued at approximately $25,000. GoalVest Advisory LLC purchased a new position in Newmont in the 3rd quarter valued at approximately $28,000. Clearstead Trust LLC acquired a new position in Newmont during the second quarter worth $25,000. Finally, Kilter Group LLC acquired a new position in Newmont during the second quarter worth $26,000. 68.85% of the stock is owned by institutional investors and hedge funds.

More Newmont News

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

Insider Buying and Selling

In other news, CEO Natascha Viljoen sold 7,764 shares of the business's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total transaction of $807,456.00. Following the completion of the sale, the chief executive officer directly owned 135,235 shares of the company's stock, valued at $14,064,440. The trade was a 5.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the business's 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 sale, the chief financial officer directly owned 29,324 shares of the company's stock, valued at $3,081,659.16. This represents a 28.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 35,973 shares of company stock valued at $3,927,169. Insiders own 0.06% of the company's stock.

Newmont Trading Down 4.7%

Shares of Newmont stock traded down $5.39 during mid-day trading on Friday, hitting $108.72. 7,847,217 shares of the stock were exchanged, compared to its average volume of 5,404,123. The stock has a market capitalization of $114.55 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 2.11 and a beta of 0.51. Newmont Corporation has a twelve month low of $76.05 and a twelve month high of $135.29. 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 company has a 50-day simple moving average of $121.86 and a 200 day simple moving average of $110.99.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.26. Newmont had a net margin of 34.73% and a return on equity of 30.02%. The business 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 earnings per share. The company's revenue was up 15.2% on a year-over-year basis. Research analysts forecast that Newmont Corporation will post 9.04 EPS for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Wednesday, November 25th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, November 25th. This represents a $1.04 annualized dividend and a yield of 1.0%. Newmont's dividend payout ratio is 12.09%.

Analyst Ratings Changes

NEM has been the topic of a number of research analyst reports. Canaccord Genuity Group decreased their target price on Newmont from $160.00 to $130.00 and set a "buy" rating on the stock in a research report on Thursday, July 23rd. UBS Group cut their price target on Newmont from $140.00 to $120.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. BNP Paribas Exane boosted their price objective on shares of Newmont from $102.00 to $112.00 and gave the stock a "neutral" rating in a research report on Monday, August 17th. Jefferies Financial Group increased their price objective on shares of Newmont from $146.00 to $155.00 in a research note on Friday, October 9th. Finally, Raymond James Financial restated an "outperform" rating and set a $140.00 target price (up from $131.00) on shares of Newmont in a report on Monday, August 24th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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.