Wedbush Securities Inc. Acquires New Position in Newmont Corporation $NEM

Wedbush Securities Inc. bought a new position in Newmont Corporation (NYSE:NEM) in the third quarter, Holdings Channel reports. The firm bought 22,109 shares of the basic materials company’s stock, valued at approximately $2,550,000.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Newmont during the 2nd quarter valued at approximately $11,289,753,000. State Street Corp raised its holdings in shares of Newmont by 3.1% in the second quarter. State Street Corp now owns 52,396,702 shares of the basic materials company’s stock worth $4,893,852,000 after buying an additional 1,565,716 shares during the last quarter. Van ECK Associates Corp acquired a new stake in shares of Newmont during the second quarter worth $671,197,000. Bank of New York Mellon Corp acquired a new stake in shares of Newmont during the second quarter worth $1,219,505,000. Finally, First Eagle Investment Management LLC acquired a new stake in shares of Newmont during the second quarter worth $241,820,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Newmont

In related news, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $445,692.42. Following the completion of the sale, the chief executive officer owned 127,471 shares of the company’s stock, valued at approximately $14,634,945.51. This trade represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of Newmont 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 transaction, the executive vice president owned 34,315 shares in the company, valued at approximately $3,939,705.15. This represents a 8.04% decrease in their position. 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 sold 35,973 shares of company stock valued at $3,927,169. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Down 4.7%

Newmont stock opened at $108.72 on Friday. The business’s 50-day moving average price is $121.86 and its 200 day moving average price is $110.99. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. The firm has a market cap of $114.55 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 2.02 and a beta of 0.51. Newmont Corporation has a 52 week low of $76.05 and a 52 week high of $135.29.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.26. Newmont had a return on equity of 30.02% and a net margin of 34.73%. 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 earned $1.71 EPS. Newmont’s revenue for the quarter was up 15.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Newmont Corporation will post 9.07 earnings per share for the current year.

Newmont Announces Dividend

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

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

Analyst Ratings Changes

Several equities analysts recently issued reports on NEM shares. Canaccord Genuity Group cut 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. Canadian Imperial Bank of Commerce set a $154.00 target price on Newmont in a research note on Friday, October 16th. Raymond James Financial reaffirmed an “outperform” rating and set a $140.00 price target (up from $131.00) on shares of Newmont in a research report on Monday, August 24th. Barclays dropped their price target on Newmont from $124.00 to $123.00 and set an “overweight” rating on the stock in a research note on Monday, October 19th. Finally, Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $137.25.

Newmont Company 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.