Groupama Asset Managment Boosts Stock Position in Newmont Corporation $NEM

Groupama Asset Managment lifted its holdings in shares of Newmont Corporation (NYSE:NEM) by 7.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,350 shares of the basic materials company’s stock after buying an additional 5,192 shares during the quarter. Groupama Asset Managment’s holdings in Newmont were worth $7,024,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Newmont by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company’s stock worth $13,390,613,000 after purchasing an additional 637,996 shares in the last quarter. State Street Corp raised its position in shares of Newmont by 1.0% during the 4th quarter. State Street Corp now owns 49,959,850 shares of the basic materials company’s stock worth $4,988,491,000 after purchasing an additional 480,223 shares during the last quarter. Van ECK Associates Corp lifted its stake in Newmont by 23.4% in the 4th quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock valued at $2,973,539,000 after buying an additional 5,643,496 shares in the last quarter. Geode Capital Management LLC lifted its stake in Newmont by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company’s stock valued at $2,738,756,000 after buying an additional 946,824 shares in the last quarter. Finally, Norges Bank acquired a new stake in Newmont in the 4th quarter worth about $1,443,128,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 1.7%

Shares of NYSE NEM opened at $103.86 on Friday. The company has a 50 day simple moving average of $110.31 and a 200-day simple moving average of $110.61. The company has a market capitalization of $110.88 billion, a P/E ratio of 13.47, a P/E/G ratio of 1.75 and a beta of 0.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. Newmont Corporation has a 1 year low of $55.37 and a 1 year high of $134.88.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share 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 during the quarter, compared to analyst estimates of $6.83 billion. During the same period in the prior year, the business posted $1.25 earnings per share. The firm’s revenue for the quarter was up 45.8% compared to the same quarter last year. On average, equities research analysts predict that Newmont Corporation will post 9.91 earnings per share for the current year.

Newmont Announces Dividend

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

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Several recent reports remain constructive on Newmont’s longer-term outlook, including coverage highlighting the company as a key name in gold mining and analyst commentary pointing to meaningful upside versus current levels. Why Newmont Remains a Key Name In Gold Mining?
• Positive Sentiment: Zacks Research upgraded Newmont from “hold” to “strong-buy,” while another Zacks piece said the stock could have about 30% upside based on Wall Street price targets, reinforcing bullish analyst sentiment. Does Newmont (NEM) Have the Potential to Rally 30.14% as Wall Street Analysts Expect?
• Neutral Sentiment: Newmont announced a management refresh, including new CFO, COO, and technical chief appointments effective July 1. This could support execution over time, but near-term investors may be waiting to see how the new team performs. Newmont (NEM) Appoints New CFO COO And Technical Chief Under Natascha Viljoen
• Negative Sentiment: BNP Paribas Exane cut its price target on Newmont from $128 to $111 and kept a “neutral” rating, which may be weighing on sentiment despite the target still sitting above the current share price. BNP Paribas Exane adjusts price target on Newmont to 111 from 128, maintains neutral rating
• Negative Sentiment: Recent trading commentary noted that Newmont fell even as the broader market moved higher, suggesting investors are taking profits or reacting cautiously after a strong run in the stock. Newmont Corporation (NEM) Stock Falls Amid Market Uptick: What Investors Need to Know

Insiders Place Their Bets

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 sale, the executive vice president directly owned 67,865 shares in the company, valued at approximately $7,472,615.15. The trade was a 16.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $408,852.24. Following the sale, the chief executive officer owned 142,999 shares of the company’s stock, valued at approximately $15,060,654.68. This represents a 2.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,556 shares of company stock valued at $3,120,276 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on NEM. Sanford C. Bernstein upgraded Newmont from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $121.00 to $157.00 in a research note on Friday, February 27th. Scotiabank lowered their price target on Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a research note on Friday, March 20th. TD Cowen restated a “buy” rating on shares of Newmont in a report on Monday, April 27th. Macquarie Infrastructure lowered their target price on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Canaccord Genuity Group upped their target price on shares of Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and a consensus target price of $140.98.

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.