SteelPeak Wealth LLC Makes New Investment in Newmont Corporation $NEM

SteelPeak Wealth LLC purchased a new position in Newmont Corporation (NYSE:NEM) in the third quarter, HoldingsChannel reports. The fund purchased 33,174 shares of the basic materials company’s stock, valued at approximately $3,826,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. IFP Advisors Inc bought a new position in Newmont during the 3rd quarter valued at $6,463,000. Founders Grove Wealth Partners LLC acquired a new position in Newmont during the 3rd quarter worth $356,000. Center For Asset Management LLC bought a new stake in shares of Newmont in the 3rd quarter worth about $1,633,000. Robertson Stephens Wealth Management LLC bought a new stake in shares of Newmont in the 3rd quarter worth about $2,152,000. Finally, Lee Financial Co bought a new stake in shares of Newmont in the 3rd quarter worth about $4,099,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Performance

Shares of NEM opened at $118.40 on Friday. The business’s fifty day moving average price is $122.06 and its 200 day moving average price is $110.84. Newmont Corporation has a 12-month low of $76.05 and a 12-month high of $135.29. The stock has a market capitalization of $124.76 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 2.20 and a beta of 0.51. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The firm had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.35 billion. During the same quarter in the previous year, the company posted $1.43 earnings per share. Equities research analysts forecast that Newmont Corporation will post 9.05 EPS for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Thursday, September 3rd were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, September 3rd. Newmont’s dividend payout ratio (DPR) is presently 13.13%.

Newmont News Summary

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Gold prices recently rose more than 1% as the U.S. dollar weakened and Treasury yields eased, improving the outlook for gold miners’ revenue and margins. Newmont is also benefiting from strong prior-quarter free cash flow, share repurchases and its ability to remain on track with 2026 guidance. Newmont rises as gold strengthens and investors look ahead to earnings
• Positive Sentiment: Analyst sentiment has improved. Bernstein raised its Newmont price target to $150 from $144, while the broader consensus target was reported at CHF 121.57, up 10.84%. Jefferies also reaffirmed a Buy rating, reinforcing expectations for further upside if gold remains strong. Bernstein Adjusts Price Target on Newmont Newmont consensus price target raised
• Positive Sentiment: Investors are positioning ahead of Newmont’s October 22 third-quarter earnings release. Wall Street expects earnings growth, helped by higher gold prices and potentially improved margins, while the company’s previous quarter showed strong cash generation and production execution. Newmont Corporation reports next week
• Neutral Sentiment: Newmont completed the sale of its Northumberland asset. The transaction may simplify the portfolio and support capital allocation, but the immediate earnings impact was not specified. Newmont completes Northumberland sale
• Negative Sentiment: Earnings expectations are mixed: higher gold prices could be offset by weaker production and higher costs, making the October 22 report a key near-term catalyst and volatility risk. NEM to Report Q3 Earnings
• Negative Sentiment: Insider-trading data shows 13 open-market sales and no purchases over the past six months, including sales by senior executives. This may weigh on sentiment, although insider transactions do not necessarily reflect company fundamentals.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm’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 $344,430.00. Following the transaction, the executive vice president directly owned 34,315 shares in the company, valued at approximately $3,939,705.15. This trade represents a 8.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of Newmont stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $104.00, for a total transaction of $807,456.00. Following the completion of the transaction, the chief executive officer directly owned 135,235 shares of the company’s stock, valued at $14,064,440. This trade represents a 5.43% decrease in their ownership of the stock. 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 three months, insiders have sold 35,973 shares of company stock worth $3,927,169. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of recent analyst reports. BNP Paribas Exane cut their target price on shares of Newmont from $111.00 to $102.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 21st. Wall Street Zen downgraded Newmont from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. TD lifted their price target on Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Weiss Ratings raised Newmont from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 2nd. Finally, UBS Group cut their price objective on Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $133.50.

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.