King Luther Capital Management Corp Acquires New Stake in Newmont Corporation $NEM

King Luther Capital Management Corp bought a new position in shares of Newmont Corporation (NYSE:NEM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 59,919 shares of the basic materials company’s stock, valued at approximately $6,911,000.

Other hedge funds have also modified their holdings of the company. Winthrop Capital Management LLC acquired a new position in Newmont in the third quarter valued at $29,000. New Mexico Educational Retirement Board purchased a new stake in shares of Newmont in the third quarter valued at about $6,261,000. CFM Wealth Partners LLC acquired a new stake in shares of Newmont during the third quarter worth about $331,000. Bourne Lent Asset Management Inc. acquired a new stake in shares of Newmont during the third quarter worth about $244,000. Finally, Maryland State Retirement & Pension System purchased a new position in shares of Newmont during the third quarter worth about $7,432,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on NEM. Canaccord Genuity Group dropped their price target on Newmont from $160.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, July 23rd. Barclays decreased their price objective on Newmont from $124.00 to $123.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. Citigroup lifted their target price on Newmont from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. Sanford C. Bernstein boosted their target price on Newmont from $144.00 to $150.00 in a report on Friday, October 16th. Finally, BNP Paribas Exane upped their price target on Newmont from $102.00 to $112.00 and gave the stock a “neutral” rating in a research note on Monday, August 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $137.20.

Newmont Stock Down 5.0%

Shares of NYSE:NEM opened at $112.57 on Friday. Newmont Corporation has a fifty-two week low of $81.34 and a fifty-two week high of $135.29. The company has a quick ratio of 2.16, a current ratio of 2.45 and a debt-to-equity ratio of 0.15. The firm’s 50-day simple moving average is $118.36 and its 200-day simple moving average is $112.40. The company has a market cap of $116.98 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 2.58 and a beta of 0.56.

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, topping the consensus estimate of $1.94 by $0.26. The firm had revenue of $6.36 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Newmont had a net margin of 34.73% and a return on equity of 29.81%. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.71 earnings per share. As a group, equities research analysts predict that Newmont Corporation will post 9.18 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Wednesday, November 25th will be given 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 presently 12.09%.

Insider Activity at Newmont

In other news, CEO Natascha Viljoen sold 3,882 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was 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 $16,156,419. This trade represents a 2.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 shares were sold at an average price of $108.04, for a total value of $324,120.00. Following the completion of the sale, the executive vice president owned 31,315 shares in the company, valued at approximately $3,383,272.60. This trade represents 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. Insiders have sold a total of 20,646 shares of company stock worth $2,380,140 in the last quarter. 0.06% of the stock is currently owned by insiders.

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.