Newmont Corporation $NEM Shares Bought by Rathbones Group PLC

Rathbones Group PLC grew its stake in shares of Newmont Corporation (NYSE:NEM) by 27.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 113,801 shares of the basic materials company’s stock after acquiring an additional 24,722 shares during the period. Rathbones Group PLC’s holdings in Newmont were worth $11,363,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Sowell Financial Services LLC raised its stake in Newmont by 10.7% during the 4th quarter. Sowell Financial Services LLC now owns 32,812 shares of the basic materials company’s stock valued at $3,276,000 after purchasing an additional 3,175 shares during the period. Park Capital Management LLC WI raised its stake in Newmont by 19.2% during the 4th quarter. Park Capital Management LLC WI now owns 13,224 shares of the basic materials company’s stock valued at $1,320,000 after purchasing an additional 2,133 shares during the period. Secure Asset Management LLC raised its stake in Newmont by 0.6% during the 4th quarter. Secure Asset Management LLC now owns 23,962 shares of the basic materials company’s stock valued at $2,393,000 after purchasing an additional 152 shares during the period. Pullen Investment Management LLC raised its stake in Newmont by 18.3% during the 4th quarter. Pullen Investment Management LLC now owns 38,842 shares of the basic materials company’s stock valued at $3,878,000 after purchasing an additional 6,021 shares during the period. Finally, Ethos Financial Group LLC acquired a new stake in Newmont during the 4th quarter valued at $216,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on NEM. The Goldman Sachs Group boosted their target price on shares of Newmont from $99.90 to $123.90 and gave the company a “buy” rating in a research note on Monday, January 12th. Wall Street Zen downgraded shares of Newmont from a “buy” rating to a “hold” rating in a research note on Saturday. Royal Bank Of Canada boosted their target price on shares of Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. TD Securities cut their target price on shares of Newmont from $120.00 to $118.00 and set a “hold” rating on the stock in a research note on Tuesday, March 3rd. Finally, BNP Paribas Exane boosted their target price on shares of Newmont from $123.00 to $128.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Newmont presently has a consensus rating of “Buy” and an average price target of $133.78.

Insiders Place Their Bets

In other news, insider David James Fry sold 18,394 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the transaction, the insider directly owned 17,147 shares of the company’s stock, valued at approximately $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $113.09, for a total transaction of $339,270.00. Following the completion of the transaction, the executive vice president directly owned 52,315 shares in the company, valued at $5,916,303.35. This trade represents a 5.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 24,394 shares of company stock worth $2,713,281 over the last ninety days. 0.05% of the stock is currently owned by company insiders.

Newmont News Summary

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Majority of analysts rate NEM a “Buy” (22 analysts covered; 16 buys, 3 strong buys, 3 holds) — this provides structural analyst support for the stock. Newmont Corporation (NYSE:NEM) Given Average Rating of “Buy” by Brokerages
• Positive Sentiment: High-profile endorsement: Jim Cramer expressed a favorable view of Newmont and the case for owning gold/miners, which can attract retail flows. Jim Cramer Discusses Newmont Corporation and the Importance of Owning Gold
• Neutral Sentiment: Insider sale disclosed as a 10b5-1 planned trade (EVP Peter Toth sold 3,000 shares); planned-program sales are less informative about company prospects but can still pressure near-term supply. Newmont EVP Peter Toth Sells 3,000 Shares Under 10b5-1 Plan
• Negative Sentiment: Shares have underperformed several peers in recent trading sessions, indicating short-term relative weakness vs. the sector which may invite profit-taking or reallocation. Newmont Corp. stock underperforms Monday when compared to competitors
• Negative Sentiment: Recent headlines note a ~1.07% intraday decline amid a stronger market, signaling short-term selling pressure; separate filings also show an EVP sale (~$339k) that could amplify negative perception. Newmont Corporation (NEM) Stock Sinks As Market Gains: Here’s Why Newmont (NYSE:NEM) EVP Sells $339,270.00 in Stock

Newmont Trading Down 1.2%

NYSE NEM opened at $112.67 on Tuesday. Newmont Corporation has a 1-year low of $42.93 and a 1-year high of $134.88. The company has a current ratio of 2.29, a quick ratio of 2.02 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $121.68 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 0.88 and a beta of 0.46. The firm’s fifty day simple moving average is $115.86 and its 200-day simple moving average is $101.91.

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

Newmont Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Tuesday, March 3rd were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. This is a boost from Newmont’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, March 3rd. Newmont’s dividend payout ratio (DPR) is currently 16.28%.

About Newmont

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.