Ritholtz Wealth Management Acquires New Holdings in Newmont Corporation $NEM

Ritholtz Wealth Management bought a new position in shares of Newmont Corporation (NYSE:NEM) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 50,138 shares of the basic materials company’s stock, valued at approximately $5,783,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Hourglass Capital LLC bought a new position in Newmont in the 3rd quarter worth about $13,066,000. Hennessy Advisors Inc. purchased a new stake in shares of Newmont in the 3rd quarter valued at about $2,491,000. FARMERS & MERCHANTS TRUST Co OF LONG BEACH bought a new stake in shares of Newmont during the 3rd quarter valued at about $814,000. Greenleaf Trust bought a new stake in shares of Newmont during the 3rd quarter valued at about $3,043,000. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of Newmont during the 3rd quarter valued at about $1,769,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. The Goldman Sachs Group decreased their price objective on shares of Newmont from $127.50 to $119.00 in a research report on Thursday, October 8th. Sanford C. Bernstein lifted their target price on shares of Newmont from $144.00 to $150.00 in a research report on Friday, October 16th. TD lifted their target price on shares of Newmont from $127.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Weiss Ratings raised shares of Newmont from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 16th. Finally, BNP Paribas Exane increased their price target on shares of Newmont from $102.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $137.20.

Insider Buying and Selling

In other Newmont news, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $123.00, for a total transaction of $477,486.00. Following the transaction, the chief executive officer directly owned 131,353 shares in the company, valued at $16,156,419. This trade represents a 2.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 that occurred on Monday, November 2nd. The stock was sold at an average price of $108.04, for a total transaction of $324,120.00. Following the transaction, the executive vice president directly owned 31,315 shares in the company, valued at $3,383,272.60. This trade represents a 8.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 20,646 shares of company stock worth $2,380,140 over the last quarter. Company insiders own 0.06% of the company’s stock.

Newmont Price Performance

NEM opened at $112.57 on Friday. The stock has a 50-day moving average price of $118.36 and a 200-day moving average price of $112.40. Newmont Corporation has a 12-month low of $81.34 and a 12-month high of $135.29. The company has a current ratio of 2.45, a quick ratio of 2.16 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $116.98 billion, a P/E ratio of 13.09, a PEG ratio of 2.58 and a beta of 0.56.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, October 22nd. The basic materials company reported $2.20 EPS for the quarter, beating the consensus estimate of $1.94 by $0.26. The firm had revenue of $6.36 billion for the quarter, compared to analyst estimates of $6.27 billion. Newmont had a return on equity of 29.81% and a net margin of 34.73%. The company’s revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.71 EPS. Equities analysts predict that Newmont Corporation will post 9.18 earnings per share for the current fiscal year.

Newmont Announces Dividend

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. The ex-dividend date of this dividend is Wednesday, November 25th. This represents a $1.04 annualized dividend and a yield of 0.9%. Newmont’s dividend payout ratio is currently 12.09%.

Newmont Company Profile

Newmont Corporation is a gold-focused mining company that explores for, develops, and operates mines. Its products include gold as well as copper, silver, zinc, and lead, which are produced at some of its mining operations. Founded in 1921, Newmont has grown through exploration and acquisitions into an international mining company. Its operations and projects span North America, South America, Australia, and Africa. Newmont is headquartered in Denver, Colorado. Natascha Viljoen became the company’s chief executive officer in 2025, succeeding Tom Palmer.