Sterling Capital Management LLC Makes New $12.24 Million Investment in Newmont Corporation $NEM

Sterling Capital Management LLC purchased a new position in Newmont Corporation (NYSE:NEM) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 106,086 shares of the basic materials company’s stock, valued at approximately $12,236,000.

Several other institutional investors have also made changes to their positions in NEM. Cedar Mountain Advisors LLC acquired a new stake in shares of Newmont during the 1st quarter valued at $25,000. Pinnacle Bancorp Inc. purchased a new position in shares of Newmont during the 1st quarter valued at $25,000. GoalVest Advisory LLC acquired a new position in shares of Newmont in the third quarter worth $28,000. Clearstead Trust LLC acquired a new position in shares of Newmont in the second quarter worth $25,000. Finally, Kilter Group LLC purchased a new stake in shares of Newmont during the second quarter worth $26,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting 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%

Newmont stock traded down $5.39 during mid-day trading on Friday, hitting $108.72. 7,847,217 shares of the company’s stock were exchanged, compared to its average volume of 5,404,123. Newmont Corporation has a 1-year low of $76.05 and a 1-year high of $135.29. The stock has a 50 day moving average of $121.86 and a two-hundred day moving average of $110.99. 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 stock has a market cap of $114.55 billion, a P/E ratio of 12.64, a P/E/G ratio of 2.11 and a beta of 0.51.

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, topping analysts’ consensus estimates of $1.94 by $0.26. The company had revenue of $6.36 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Newmont had a return on equity of 30.02% and a net margin of 34.73%. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.71 earnings per share. As a group, analysts anticipate that Newmont Corporation will post 9.04 EPS for the current fiscal year.

Newmont Announces Dividend

The business 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 $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, November 25th. Newmont’s dividend payout ratio (DPR) is presently 12.09%.

Insider Activity at Newmont

In related news, CEO Natascha Viljoen sold 7,764 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total value of $807,456.00. Following the transaction, the chief executive officer directly owned 135,235 shares in the company, valued at approximately $14,064,440. This trade represents a 5.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 the business’s stock in a transaction dated 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 directly owned 34,315 shares of the company’s stock, valued at $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 ninety days, insiders have sold 35,973 shares of company stock valued at $3,927,169. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NEM shares. UBS Group lowered their target price on Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. TD Cowen reduced their price target on Newmont from $133.00 to $131.00 in a report on Tuesday. RBC Dominion Securities set a $155.00 price target on Newmont and gave the company an “outperform” rating in a research note on Thursday. Canadian Imperial Bank of Commerce set a $154.00 price objective on Newmont in a report on Friday, October 16th. Finally, Weiss Ratings raised shares of Newmont from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 16th. 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, the stock has a consensus rating of “Moderate Buy” and an average 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.