Maryland State Retirement & Pension System Makes New $7.43 Million Investment in Newmont Corporation $NEM

Maryland State Retirement & Pension System acquired a new position in shares of Newmont Corporation (NYSE:NEM) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 64,433 shares of the basic materials company’s stock, valued at approximately $7,432,000.

Several other large investors have also bought and sold shares of the business. Ritholtz Wealth Management bought a new position in Newmont in the third quarter valued at about $5,783,000. Jacobi Capital Management LLC acquired a new position in Newmont during the third quarter worth about $426,000. Cherokee Insurance Co acquired a new position in Newmont during the third quarter worth about $288,000. Jefferies Financial Group Inc. acquired a new position in Newmont during the third quarter worth about $4,401,000. Finally, First Command Advisory Services Inc. bought a new position in shares of Newmont in the third quarter worth about $355,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Trading Down 5.0%

Shares of NEM stock opened at $112.57 on Friday. Newmont Corporation has a twelve month low of $81.34 and a twelve month high of $135.29. The stock’s fifty day simple moving average is $118.36 and its 200 day simple moving average is $112.40. 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 has a market capitalization of $116.98 billion, a P/E ratio of 13.09, a P/E/G ratio of 2.58 and a beta of 0.56.

Newmont (NYSE:NEM) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $6.27 billion. Newmont had a return on equity of 29.81% and a net margin of 34.73%. The business’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period last year, the company earned $1.71 earnings per share. As a group, sell-side analysts predict 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. Stockholders of record on Wednesday, November 25th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Wednesday, November 25th. Newmont’s payout ratio is 12.09%.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the firm’s 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 transaction, the executive vice president owned 31,315 shares in the company, valued at $3,383,272.60. This trade represents a 8.74% decrease in their position. The sale 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, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $123.00, for a total transaction of $477,486.00. Following the sale, the chief executive officer owned 131,353 shares in the company, valued at approximately $16,156,419. This represents a 2.87% 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 sold 20,646 shares of company stock valued at $2,380,140 in the last ninety days. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NEM has been the topic of a number of research analyst reports. Canadian Imperial Bank of Commerce set a $154.00 price target on shares of Newmont in a research note on Friday, October 16th. Citigroup upped their price objective on shares of Newmont from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, October 20th. Canaccord Genuity Group lowered their price objective on shares of Newmont from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. 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, Barclays cut their target price on shares of Newmont from $124.00 to $123.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. Two research 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 stock. Based on data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and an average target price of $137.20.

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.