Crescent Grove Advisors LLC Purchases 5,701 Shares of Newmont Corporation $NEM

Crescent Grove Advisors LLC lifted its position in Newmont Corporation (NYSE:NEM) by 29.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,753 shares of the basic materials company’s stock after buying an additional 5,701 shares during the period. Crescent Grove Advisors LLC’s holdings in Newmont were worth $2,472,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NEM. Brighton Jones LLC lifted 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 purchasing an additional 1,847 shares during the period. Woodline Partners LP lifted its position in 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 purchasing an additional 27,813 shares during the period. Sivia Capital Partners LLC bought a new position in Newmont during the second quarter valued at approximately $240,000. Cerity Partners LLC lifted its position in Newmont by 108.9% during the second 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 period. Finally, NewEdge Advisors LLC lifted its position in Newmont by 8.5% during the second 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 period. Institutional investors own 68.85% of the company’s stock.

More Newmont News

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?

Newmont Stock Performance

Shares of NYSE NEM opened at $107.62 on Thursday. The firm has a fifty day moving average price of $111.55 and a 200-day moving average price of $109.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The stock has a market cap of $114.89 billion, a PE 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 announced its quarterly earnings data 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 firm had revenue of $7.31 billion during 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%. The company’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 company posted $1.25 earnings per share. Equities analysts anticipate that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. Newmont’s dividend payout ratio is 13.49%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NEM. Bank of America increased their price objective on shares of Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Royal Bank Of Canada lowered their price objective on shares of Newmont from $160.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday. Stifel Nicolaus increased their price objective on shares of Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Weiss Ratings downgraded shares of Newmont from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 27th. Finally, Canadian Imperial Bank of Commerce set a $175.00 price objective on shares of Newmont and gave the company an “outperform” rating in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $142.20.

Insider Transactions at Newmont

In other news, EVP Peter Wexler sold 13,378 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $1,473,051.58. Following the completion of the sale, the executive vice president directly owned 67,865 shares of the company’s stock, valued at $7,472,615.15. This represents a 16.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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, insider David John Thornton sold 2,296 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $252,812.56. Following the completion of the sale, the insider directly owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. This trade represents a 9.02% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 49,950 shares of company stock valued at $5,494,288. Company insiders own 0.06% of the company’s stock.

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.