Private Advisor Group LLC Lowers Position in Newmont Corporation $NEM

Private Advisor Group LLC trimmed its position in shares of Newmont Corporation (NYSE:NEM) by 17.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 45,057 shares of the basic materials company’s stock after selling 9,831 shares during the period. Private Advisor Group LLC’s holdings in Newmont were worth $4,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its position in Newmont by 15.7% during the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after buying an additional 1,847 shares during the period. Woodline Partners LP boosted its stake in shares of Newmont by 40.7% during the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock worth $4,644,000 after acquiring an additional 27,813 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Newmont during the 2nd quarter valued at about $240,000. Cerity Partners LLC grew its position in shares of Newmont by 108.9% during 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 during the period. Finally, NewEdge Advisors LLC increased its stake in shares of 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 purchasing an additional 3,856 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Newmont

In other Newmont news, insider David John Thornton sold 2,296 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the transaction, the insider directly owned 23,163 shares of the company’s stock, valued at $2,550,477.93. This trade represents a 9.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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, CEO Natascha Viljoen sold 3,882 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the transaction, the chief executive officer owned 142,999 shares in the company, valued at approximately $15,060,654.68. This represents a 2.64% 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 have sold a total of 28,556 shares of company stock worth $3,058,146 in the last quarter. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NEM shares. TD Cowen reiterated a “buy” rating on shares of Newmont in a research report on Monday, April 27th. Wall Street Zen downgraded Newmont from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 30th. Canadian Imperial Bank of Commerce set a $175.00 target price on Newmont and gave the company an “outperform” rating in a research report on Monday, June 1st. TD boosted their price target on shares of Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a report on Monday, April 27th. Finally, UBS Group reduced their price objective on shares of Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $138.78.

Key Stories Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Jefferies reiterated a Buy rating on Newmont and still sees upside even after trimming its price target to $146, which supports the stock’s long-term valuation case. Benzinga source
• Positive Sentiment: Recent coverage highlighted Newmont as a leader among gold stocks, with commentary pointing to higher gold prices as a potential driver of earnings and share performance. Article title
• Positive Sentiment: Analyst and market recaps note Newmont’s strong operating profile, including a recent earnings beat and continued investor interest in the gold miner. Article title

Newmont Stock Down 3.3%

NYSE NEM opened at $94.95 on Wednesday. The business has a fifty day moving average price of $105.35 and a 200 day moving average price of $110.83. 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 company has a market cap of $101.36 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.63 and a beta of 0.46. Newmont Corporation has a one year low of $55.37 and a one year high of $134.88.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. The business had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 earnings per share. Research analysts anticipate that Newmont Corporation will post 9.87 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Wednesday, May 27th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, May 27th. Newmont’s dividend payout ratio is currently 13.49%.

Newmont Company 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.