Newmont Corporation $NEM Shares Bought by State of Wisconsin Investment Board

State of Wisconsin Investment Board raised its holdings in Newmont Corporation (NYSE:NEM) by 7.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 685,218 shares of the basic materials company’s stock after buying an additional 47,431 shares during the quarter. State of Wisconsin Investment Board’s holdings in Newmont were worth $68,419,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GoalVest Advisory LLC acquired a new stake in Newmont in the fourth quarter valued at $25,000. Swiss RE Ltd. acquired a new stake in Newmont in the fourth quarter valued at $26,000. Cornerstone Planning Group LLC lifted its holdings in Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 206 shares during the period. Lodestone Wealth Management LLC acquired a new stake in Newmont in the fourth quarter valued at $28,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in Newmont in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont News Roundup

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Zacks Research upgraded Newmont from hold to strong-buy, adding to the bullish tone around the stock and signaling improved analyst confidence in the company’s outlook.
• Positive Sentiment: Newmont announced key leadership appointments, naming veteran executives to the CFO, COO, and technical chief roles effective July 1. Investors are likely viewing the internal promotions as a sign of continuity and operational stability. Newmont Announces Key Executive Appointments for the Next Phase of Delivery
• Positive Sentiment: Barron’s said gold’s recent pullback may be more of a reset than a breakdown, and suggested Newmont could benefit if gold prices rebound. That supports the stock because Newmont is a major gold producer. Gold’s Correction Looks More Like a Reset. Newmont and These 4 Stocks Are Buys.
• Neutral Sentiment: Several articles highlighted that Newmont has been drawing investor attention and remains on “best value” and “top gold stocks” lists, reinforcing interest in the name but offering limited new information.
• Negative Sentiment: Macquarie trimmed its price target on Newmont to $123 from $133, even while keeping an outperform rating. That may temper enthusiasm somewhat, though the revised target still implies upside. Macquarie adjusts price target on Newmont to 123 from 133, maintains outperform rating

Insider Activity

In related news, EVP Peter Wexler sold 13,378 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $1,473,051.58. Following the completion of the transaction, the executive vice president owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. The trade was a 16.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $315,960.00. Following the completion of the transaction, the executive vice president directly owned 46,315 shares of the company’s stock, valued at $4,877,895.80. The trade was a 6.08% decrease in their position. 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. Over the last quarter, insiders sold 28,556 shares of company stock worth $3,120,276. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on NEM shares. Sanford C. Bernstein raised Newmont from a “market perform” rating to an “outperform” rating and raised their target price for the company from $121.00 to $157.00 in a report on Friday, February 27th. Wall Street Zen downgraded Newmont from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 30th. Argus lifted their price target on Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. BMO Capital Markets lifted their price target on Newmont from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Finally, Barclays began coverage on Newmont in a research note on Thursday, May 21st. They set an “overweight” rating and a $133.00 price target for the company. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $141.79.

Newmont Trading Up 2.5%

NYSE:NEM opened at $108.46 on Wednesday. The company has a market capitalization of $115.79 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 1.75 and a beta of 0.42. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 52-week low of $55.37 and a 52-week high of $134.88. The stock has a fifty day simple moving average of $110.66 and a 200-day simple moving average of $110.41.

Newmont (NYSE:NEM) last released its quarterly earnings results 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. The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business’s revenue was up 45.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.25 EPS. On average, equities research analysts expect that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Announces Dividend

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