Northwestern Mutual Wealth Management Co. Has $5.24 Million Stock Holdings in Newmont Corporation $NEM

Northwestern Mutual Wealth Management Co. lessened its holdings in shares of Newmont Corporation (NYSE:NEM) by 9.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 52,460 shares of the basic materials company’s stock after selling 5,611 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Newmont were worth $5,238,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in NEM. Brighton Jones LLC lifted its position in shares of Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after purchasing an additional 1,847 shares during the last quarter. Woodline Partners LP raised its holdings in Newmont by 40.7% in the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock valued at $4,644,000 after acquiring an additional 27,813 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Newmont in the 2nd quarter valued at approximately $240,000. Cerity Partners LLC raised its holdings in Newmont by 108.9% in the 2nd quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock valued at $7,303,000 after acquiring an additional 65,342 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Newmont by 8.5% in the 2nd quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock valued at $2,854,000 after acquiring an additional 3,856 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Key Stories Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Seeking Alpha highlighted Newmont’s strong cash generation, saying its cash flow “explosion” may just be beginning, supported by a new $6 billion buyback authorization, record first-quarter free cash flow, and long-term gold price tailwinds. Newmont: Gold’s Volatility Creates A Long-Term Opportunity
• Positive Sentiment: Royal Bank of Canada kept an Outperform rating on Newmont, even after trimming its price target to $140 from $160, implying meaningful upside from current levels. RBC adjusts price target on Newmont
• Neutral Sentiment: Newmont remains a frequent topic among investors and screeners, with multiple articles questioning valuation after the stock’s sharp 1-year rally and noting that shares are trading near estimated fair value. A Look At Newmont (NEM) Valuation As Shares Trade Near Estimated Fair Value
• Negative Sentiment: CEO Natascha Viljoen and EVP Peter Toth both sold shares in pre-arranged 10b5-1 transactions, which can sometimes weigh on sentiment even though the sales were scheduled in advance.
• Neutral Sentiment: One article questioned whether it is too late to reassess the stock after a roughly 96% one-year surge, reflecting investor debate about whether much of the upside is already priced in. Is It Too Late To Reassess Newmont (NEM) After Its 1 Year 96% Surge?

Insiders Place Their Bets

In related news, EVP Peter Wexler sold 13,378 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the sale, the executive vice president owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. This trade represents a 16.47% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David James Fry sold 18,394 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $111.45, for a total value of $2,050,011.30. Following the sale, the insider directly owned 17,147 shares in the company, valued at $1,911,033.15. The trade was a 51.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 49,950 shares of company stock worth $5,494,288 over the last three months. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. The Goldman Sachs Group upped their price target on Newmont from $123.20 to $125.10 and gave the company a “buy” rating in a report on Tuesday, April 28th. TD Cowen reissued a “buy” rating on shares of Newmont in a report on Monday, April 27th. TD lifted their target price on shares of Newmont from $116.00 to $129.00 and gave the company a “hold” rating in a research report on Monday, April 27th. Canaccord Genuity Group upped their target price on shares of Newmont from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Stifel Nicolaus upped their target price on shares of Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.20.

Newmont Stock Down 1.7%

Shares of NEM opened at $107.62 on Thursday. The firm has a market capitalization of $114.89 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 1.82 and a beta of 0.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The business’s fifty day moving average price is $111.55 and its two-hundred day moving average price is $109.47. Newmont Corporation has a 52 week low of $52.08 and a 52 week high of $134.88.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same period last year, the company earned $1.25 EPS. The business’s quarterly revenue was up 45.8% compared to the same quarter last year. On average, analysts predict that Newmont Corporation will post 9.91 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is currently 13.49%.

About Newmont

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.