Legal & General Group Plc Buys 711,940 Shares of Newmont Corporation $NEM

Legal & General Group Plc increased its stake in shares of Newmont Corporation (NYSE:NEM) by 9.6% during the third quarter, HoldingsChannel.com reports. The firm owned 8,156,669 shares of the basic materials company’s stock after buying an additional 711,940 shares during the period. Legal & General Group Plc’s holdings in Newmont were worth $687,223,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NEM. Norges Bank bought a new stake in Newmont during the second quarter valued at $919,170,000. Invesco Ltd. raised its holdings in shares of Newmont by 45.0% in the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock valued at $908,152,000 after acquiring an additional 4,839,447 shares in the last quarter. Boston Partners boosted its position in shares of Newmont by 4,090.7% during the 2nd quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock valued at $272,558,000 after acquiring an additional 4,532,263 shares during the last quarter. LSV Asset Management bought a new position in shares of Newmont in the second quarter worth approximately $187,206,000. Finally, Robeco Institutional Asset Management B.V. raised its stake in Newmont by 172.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock valued at $362,888,000 after purchasing an additional 2,723,044 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NEM. DZ Bank raised shares of Newmont to a “strong-buy” rating in a research note on Monday, January 19th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Newmont in a report on Monday, December 29th. Argus increased their target price on Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. Canaccord Genuity Group lifted their price target on Newmont from $115.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Finally, Jefferies Financial Group upped their price objective on Newmont from $158.00 to $162.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Newmont currently has an average rating of “Buy” and an average target price of $134.15.

Newmont Price Performance

Shares of NYSE:NEM opened at $118.83 on Wednesday. The company has a quick ratio of 2.02, a current ratio of 2.29 and a debt-to-equity ratio of 0.16. The stock has a market cap of $129.27 billion, a PE ratio of 18.60, a PEG ratio of 0.91 and a beta of 0.39. The company’s fifty day moving average is $117.94 and its 200 day moving average is $97.81. Newmont Corporation has a 52 week low of $42.66 and a 52 week high of $134.88.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.71. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.18 billion. During the same period in the prior year, the business posted $1.40 earnings per share. The company’s revenue was up 20.6% on a year-over-year basis. Research analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Tuesday, March 3rd will be issued a dividend of $0.26 per share. The ex-dividend date is Tuesday, March 3rd. This represents a $1.04 annualized dividend and a yield of 0.9%. This is a boost from Newmont’s previous quarterly dividend of $0.25. Newmont’s dividend payout ratio (DPR) is currently 16.28%.

Key Stories Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: JPMorgan initiated coverage with an Overweight rating and a A$226 price target, forecasting strong production growth (roughly 5.3M oz in FY2026 and ~6M oz later), which supports longer-term cash flow and valuation upside. JPMorgan Predicts Strong Production Growth for Newmont Corporation (NEM) Through 2029
• Positive Sentiment: Citi raised its price target to $150 (from $118) and reiterated a Buy, signaling rising analyst confidence after recent beats and stronger gold prices. Citi Lifts PT on Newmont Corporation (NEM) to $150 from $118 – Here’s Why
• Positive Sentiment: BofA also increased its price target (to $151) and reiterated a Buy; several outlets note multiple top analysts lifting targets, which has driven recent buying momentum. Why Newmont Corporation (NEM) Is Gaining Analyst Attention
• Positive Sentiment: Coverage roundup and price-target increases have prompted commentary that Newmont’s valuation and recent earnings strength make it a leading S&P 500 performer over the past two years. Newmont (NEM) Stock Surges After Major Price Target Increases from Top Analysts
• Neutral Sentiment: Zacks and other research outlets continue to highlight Newmont as a top long-term growth/minerals stock based on style scores and bullish earnings estimates, which supports investor interest but is not new fundamental news. Why Newmont Corporation (NEM) is a Top Growth Stock for the Long-Term
• Neutral Sentiment: Zacks Research/coverage notes bullish Q1 estimates, reinforcing the earnings narrative but offering limited immediate directional impact relative to fresh analyst upgrades. Zacks Research Has Bullish Estimate for Newmont Q1 Earnings
• Negative Sentiment: Short interest rose ~19.7% in February to ~22.4M shares (~2.1% of shares sold short), raising downside pressure and suggesting a small but growing group betting against the stock (short ratio ~2.4 days).
• Negative Sentiment: MarketBeat/Fool coverage flagged two macroeconomic factors driving a recent intraday sell-off — reminders that sentiment and macro moves (rates, dollar, risk appetite) can quickly offset fundamental gains. Why Newmont Corporation Stock Dropped Today

Newmont Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.