Pullen Investment Management LLC Purchases New Shares in Newmont Corporation $NEM

Pullen Investment Management LLC acquired a new position in shares of Newmont Corporation (NYSE:NEM) in the 3rd quarter, HoldingsChannel reports. The fund acquired 26,057 shares of the basic materials company’s stock, valued at approximately $3,005,000. Newmont makes up 1.4% of Pullen Investment Management LLC’s holdings, making the stock its 23rd largest position.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Newmont during the 2nd quarter worth $11,289,753,000. Van ECK Associates Corp bought a new stake in Newmont in the 2nd quarter valued at about $671,197,000. Bank of New York Mellon Corp bought a new position in Newmont during the second quarter worth about $1,219,505,000. First Eagle Investment Management LLC bought a new position in Newmont during the second quarter worth about $241,820,000. Finally, Amundi purchased a new position in shares of Newmont in the second quarter worth about $209,411,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Key Headlines 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 Trading Down 0.1%

Shares of NEM stock opened at $108.72 on Monday. The firm has a market cap of $112.98 billion, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 2.01 and a beta of 0.51. The business has a 50-day moving average price of $121.86 and a two-hundred day moving average price of $110.97. The company has a quick ratio of 2.16, a current ratio of 2.45 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 12-month low of $76.05 and a 12-month high of $135.29.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.26. Newmont had a net margin of 34.73% and a return on equity of 29.81%. The business had revenue of $6.36 billion during the quarter, compared to analyst estimates of $6.27 billion. During the same period in the prior year, the business posted $1.71 earnings per share. The company’s revenue was up 15.2% on a year-over-year basis. Equities analysts anticipate that Newmont Corporation will post 9.07 EPS for the current fiscal year.

Newmont Dividend Announcement

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

Insider Transactions at Newmont

In other news, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $114.81, for a total value of $445,692.42. Following the sale, the chief executive officer directly owned 127,471 shares of the company’s stock, valued at $14,634,945.51. This represents a 2.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 35,973 shares of company stock valued at $3,927,169. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on NEM shares. RBC Dominion Securities set a $155.00 price target on shares of Newmont and gave the company an “outperform” rating in a research report on Thursday. Wall Street Zen downgraded shares of Newmont from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Bank of America raised their price objective on shares of Newmont from $135.00 to $145.00 in a report on Monday, August 17th. Canadian Imperial Bank of Commerce set a $154.00 target price on shares of Newmont in a report on Friday, October 16th. Finally, Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $137.25.

About Newmont

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.