CI Investments Inc. Trims Stock Position in Newmont Corporation $NEM

CI Investments Inc. trimmed its position in shares of Newmont Corporation (NYSE:NEM) by 10.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 326,463 shares of the basic materials company’s stock after selling 37,781 shares during the quarter. CI Investments Inc.’s holdings in Newmont were worth $27,524,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Physician Wealth Advisors Inc. lifted its position in Newmont by 327.8% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 236 shares during the period. Capital A Wealth Management LLC increased its stake in shares of Newmont by 1,648.3% during the second quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 478 shares in the last quarter. Caldwell Trust Co purchased a new position in shares of Newmont during the second quarter valued at approximately $31,000. Country Trust Bank bought a new stake in shares of Newmont in the 2nd quarter worth approximately $32,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of Newmont in the 2nd quarter worth approximately $32,000. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 8.0%

Shares of NEM stock opened at $118.45 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.02. Newmont Corporation has a one year low of $41.93 and a one year high of $134.88. The company’s fifty day moving average price is $116.52 and its 200-day moving average price is $96.11. The company has a market capitalization of $128.86 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 1.08 and a beta of 0.39.

Newmont (NYSE:NEM) last released its earnings results on Thursday, February 19th. The basic materials company reported $2.52 EPS for the quarter, topping the consensus estimate of $1.81 by $0.71. The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.18 billion. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The company’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.40 earnings per share. Sell-side analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Tuesday, March 3rd will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, March 3rd. This is a boost from Newmont’s previous quarterly dividend of $0.25. Newmont’s payout ratio is currently 15.65%.

Key Stories Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Strong fundamentals: Newmont reported a large Q4 beat, record free cash flow and raised shareholder returns (dividend increase), which underpins longer-term investor support. Markets Seek Shelter as Gold Shines Brightest
• Positive Sentiment: Bullish analyst action: Citigroup bumped its price target to $150 and kept a “buy” stance, adding a material upside scenario for the stock. Citigroup Raises PT to $150
• Positive Sentiment: Upgrade tailwind: Sanford C. Bernstein recently upgraded Newmont, supporting investor demand from momentum and institutional buyers. Newmont Upgraded at Sanford C. Bernstein
• Positive Sentiment: Options activity: Unusually heavy call buying suggests some traders were positioned for further upside ahead of today’s moves (can amplify volatility). (No article link)
• Neutral Sentiment: Small analyst trim: TD Securities trimmed its target slightly to $118 with a “hold” rating — a modest change that by itself is unlikely to cause a large move but adds to mixed signals. BayStreet.CA
• Negative Sentiment: Gold pullback / sector profit-taking: Reports point to a retreat in bullion that triggered broad selling across gold miners and forced short-term profit-taking after a recent rally — the most direct driver of today’s decline. Newmont slides as gold pulls back
• Negative Sentiment: Headline coverage of the drop: Market commentary (including The Motley Fool) highlights the sharp, short-term selling and frames the move as tied to shifting risk sentiment rather than company deterioration. Why Newmont Corporation Stock Just Dropped
• Negative Sentiment: Conflicting analyst views & institutional flows: Alongside upgrades, some firms (e.g., CIBC) have cut targets sharply and Quiver’s data shows sizeable institutional rebalancing and insider selling that can exacerbate downside on a weak metals tape. CIBC Cuts Newmont Price Target

Wall Street Analyst Weigh In

Several brokerages recently commented on NEM. Raymond James Financial increased their price objective on shares of Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, January 15th. Royal Bank Of Canada increased their price target on shares of Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Jefferies Financial Group boosted their price objective on shares of Newmont from $136.00 to $158.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Bank of America increased their target price on Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Finally, The Goldman Sachs Group boosted their price target on Newmont from $99.90 to $123.90 and gave the stock a “buy” rating in a research note on Monday, January 12th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $133.68.

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.