Vise Technologies Inc. Buys 10,237 Shares of Newmont Corporation $NEM

Vise Technologies Inc. raised its stake in Newmont Corporation (NYSE:NEM) by 32.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,467 shares of the basic materials company’s stock after acquiring an additional 10,237 shares during the quarter. Vise Technologies Inc.’s holdings in Newmont were worth $4,140,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. CWM LLC raised its stake in shares of Newmont by 64.6% during the 4th quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock valued at $20,259,000 after buying an additional 79,617 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Newmont by 24.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock valued at $30,775,000 after buying an additional 54,530 shares during the last quarter. AustralianSuper Pty Ltd raised its stake in shares of Newmont by 124.8% during the 3rd quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock valued at $27,843,000 after buying an additional 183,360 shares during the last quarter. Waverton Investment Management Ltd raised its stake in shares of Newmont by 3.4% during the 3rd quarter. Waverton Investment Management Ltd now owns 704,331 shares of the basic materials company’s stock valued at $59,365,000 after buying an additional 23,139 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Newmont by 65.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 741,861 shares of the basic materials company’s stock valued at $62,546,000 after buying an additional 293,901 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of recent research reports. Sanford C. Bernstein upgraded Newmont from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $121.00 to $157.00 in a research note on Friday, February 27th. Jefferies Financial Group cut their price target on Newmont from $165.00 to $154.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. TD Securities restated a “hold” rating and issued a $129.00 price target on shares of Newmont in a research note on Monday, April 27th. Canadian Imperial Bank of Commerce set a $175.00 price target on Newmont and gave the company an “outperform” rating in a research note on Monday. Finally, Stifel Nicolaus lifted their price target on Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Two investment 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 stock. According to MarketBeat.com, Newmont has an average rating of “Moderate Buy” and a consensus target price of $142.07.

Newmont News Roundup

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Analysts and commentators continue to highlight Newmont’s strong fundamentals, including robust free cash flow, higher gold prices, a large buyback program, and improving operational efficiency as the company divests lower-yield assets. Newmont Corporation: Consider Hedging Against Global Economic Uncertainty With This Stock
• Positive Sentiment: RBC Capital kept an outperform view on Newmont even after trimming its price target, suggesting Wall Street still sees upside from current levels. Newmont (NEM) Is Among Gold Equities Trading At A Premium Valuation Relative To Peers, Says RBC Capital

Insider Buying and Selling

In related news, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the sale, the chief executive officer directly owned 142,999 shares in the company, valued at approximately $15,060,654.68. The trade was a 2.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible 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 dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $315,960.00. Following the completion of the sale, the executive vice president owned 46,315 shares in the company, valued at approximately $4,877,895.80. The trade was a 6.08% 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 a total of 49,950 shares of company stock worth $5,494,288 in the last quarter. 0.06% of the stock is owned by insiders.

Newmont Trading Down 7.9%

NEM stock opened at $99.77 on Friday. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 12-month low of $52.08 and a 12-month high of $134.88. The stock has a market cap of $106.51 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.80 and a beta of 0.42. The business’s 50-day moving average is $111.70 and its 200 day moving average is $109.55.

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

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, May 27th. Newmont’s payout ratio is presently 13.49%.

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.