New York Life Investment Management LLC Acquires New Shares in Newmont Corporation $NEM

New York Life Investment Management LLC bought a new position in shares of Newmont Corporation (NYSE:NEM) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 157,123 shares of the basic materials company’s stock, valued at approximately $18,123,000.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Newmont during the 2nd quarter valued at $11,289,753,000. State Street Corp raised its holdings in Newmont by 3.1% during 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 bought a new position in shares of Newmont in the second quarter valued at $671,197,000. Bank of New York Mellon Corp bought a new position in shares of Newmont in the second quarter valued at $1,219,505,000. Finally, First Eagle Investment Management LLC bought a new position in shares of Newmont in the second quarter valued at $241,820,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Newmont news, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $123.00, for a total value of $477,486.00. Following the completion of the sale, the chief executive officer directly owned 131,353 shares of the company’s stock, valued at approximately $16,156,419. This represents a 2.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $108.04, for a total transaction of $324,120.00. Following the completion of the sale, the executive vice president directly owned 31,315 shares of the company’s stock, valued at $3,383,272.60. The trade was a 8.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 20,646 shares of company stock worth $2,380,140. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Newmont from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 16th. Canadian Imperial Bank of Commerce set a $154.00 target price on shares of Newmont in a report on Friday, October 16th. Canaccord Genuity Group lowered their target price on shares of Newmont from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Raymond James Financial reaffirmed an “outperform” rating and issued a $140.00 price target (up from $131.00) on shares of Newmont in a research report on Monday, August 24th. Finally, Barclays cut their price target on Newmont from $124.00 to $123.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average price target of $137.20.

Newmont Price Performance

Shares of NYSE:NEM opened at $118.46 on Thursday. 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 cap of $123.10 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 2.17 and a beta of 0.56. The stock’s fifty day simple moving average is $118.61 and its two-hundred day simple moving average is $112.47. Newmont Corporation has a 1-year low of $81.34 and a 1-year high of $135.29.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.26. The firm had revenue of $6.36 billion during the quarter, compared to analyst estimates of $6.27 billion. Newmont had a net margin of 34.73% and a return on equity of 29.81%. The business’s revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.71 EPS. As a group, analysts forecast that Newmont Corporation will post 9.18 EPS for the current fiscal year.

Newmont Dividend Announcement

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

Newmont 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.