Aware Super Pty Ltd as trustee of Aware Super Invests $36.60 Million in Newmont Corporation $NEM

Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of Newmont Corporation (NYSE:NEM) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 338,155 shares of the basic materials company’s stock, valued at approximately $36,605,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after acquiring an additional 1,847 shares in the last quarter. Woodline Partners LP increased its holdings in shares of Newmont by 40.7% during the first quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock valued at $4,644,000 after acquiring an additional 27,813 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Newmont during the second quarter valued at about $240,000. Cerity Partners LLC raised its position in shares of Newmont by 108.9% in the 2nd quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock valued at $7,303,000 after purchasing an additional 65,342 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position 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 during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. BMO Capital Markets dropped their target price on shares of Newmont from $145.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 23rd. Macquarie Infrastructure decreased their price target on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a report on Monday, June 15th. Canadian Imperial Bank of Commerce set a $175.00 price objective on shares of Newmont and gave the stock an “outperform” rating in a research note on Monday, June 1st. Argus lifted their price target on Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Finally, Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $136.26.

Newmont Price Performance

Shares of NEM opened at $90.83 on Friday. The business’s 50-day moving average is $102.85 and its two-hundred day moving average is $110.35. The company has a market capitalization of $96.96 billion, a P/E ratio of 11.78, a P/E/G ratio of 1.08 and a beta of 0.46. Newmont Corporation has a fifty-two week low of $56.73 and a fifty-two week high of $134.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating 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 business had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter in the previous year, the firm posted $1.25 EPS. The company’s revenue for the quarter was up 45.8% on a year-over-year basis. Research analysts predict that Newmont Corporation will post 9.32 earnings per share for the current year.

Newmont Dividend Announcement

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

Key Headlines Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Negative Sentiment: Zacks Research downgraded Newmont from “strong-buy” to “hold,” adding to near-term pressure on the stock. Newmont was downgraded by Zacks Research from “strong-buy” to “hold”.
• Negative Sentiment: Investors are also worried about the upcoming quarterly report, as coverage notes Newmont may not have the setup for an earnings beat even though EPS is expected to grow. Newmont Corporation (NEM) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Neutral Sentiment: Newmont resumed operations at its Cadia mine after a seismic event, and management said inspections found no injuries or damage. That removes an operational overhang, but the company still faces higher costs and softer gold prices. Newmont (NEM) Resumes Cadia Operations As It Pushes Ahead With Key Growth Projects
• Positive Sentiment: Several analysts remain constructive, with reports pointing to improved operational efficiency, growing free cash flow, and share buybacks as Newmont works through Newcrest integration. Did Analyst Upgrades and Buybacks Just Shift Newmont’s (NEM) Operational Efficiency Investment Narrative?
• Positive Sentiment: Some analysts also argued Newmont looks undervalued, citing permits that could unlock major copper-gold resources and support a production rebound. Newmont: The Permits That Set The Stage For A Re-Rating

Insider Buying and Selling

In other news, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $252,812.56. Following the completion of the transaction, the insider directly owned 23,163 shares of the company’s stock, valued at $2,550,477.93. The trade was a 9.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 Wexler sold 13,378 shares of the business’s stock in a transaction on Friday, May 1st. The shares were 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 of the company’s stock, valued at approximately $7,472,615.15. This 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. Over the last three months, insiders sold 28,556 shares of company stock valued at $3,058,146. Insiders own 0.06% of the company’s stock.

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.