Natixis Advisors LLC Raises Stake in Newmont Corporation $NEM

Natixis Advisors LLC increased its stake in Newmont Corporation (NYSE:NEM) by 21.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 596,632 shares of the basic materials company’s stock after buying an additional 107,094 shares during the period. Natixis Advisors LLC’s holdings in Newmont were worth $59,574,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEM. GoalVest Advisory LLC purchased a new position in shares of Newmont in the 4th quarter worth about $25,000. Physician Wealth Advisors Inc. boosted its holdings in shares of Newmont by 327.8% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after buying an additional 236 shares during the last quarter. Cornerstone Planning Group LLC boosted its holdings in shares of Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after buying an additional 206 shares during the last quarter. JPL Wealth Management LLC bought a new stake in Newmont in the 3rd quarter valued at about $27,000. Finally, Lodestone Wealth Management LLC bought a new stake in Newmont in the 4th quarter valued at about $28,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Down 1.7%

NEM stock opened at $107.62 on Thursday. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $111.55 and its 200 day moving average is $109.47. The stock has a market cap of $114.89 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 1.82 and a beta of 0.42. Newmont Corporation has a 1-year low of $52.08 and a 1-year high of $134.88.

Newmont (NYSE:NEM) last posted 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. The company had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. Newmont’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.25 earnings per share. Sell-side analysts predict that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors 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 is 13.49%.

Newmont News Summary

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?

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Canaccord Genuity Group boosted their price objective on Newmont from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Canadian Imperial Bank of Commerce set a $175.00 price objective on Newmont and gave the company an “outperform” rating in a research note on Monday. Bank of America boosted their price objective on Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. TD Cowen restated a “buy” rating on shares of Newmont in a research note on Monday, April 27th. Finally, Barclays assumed coverage on Newmont in a research note on Thursday, May 21st. They issued an “overweight” rating and a $133.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.20.

Insider Buying and Selling

In related news, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $408,852.24. Following the transaction, the chief executive officer directly 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 67,865 shares in the company, valued at approximately $7,472,615.15. This trade represents a 16.47% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 49,950 shares of company stock valued at $5,494,288 in the last 90 days. 0.06% of the stock is owned by company insiders.

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.