Caitong International Asset Management Co. Ltd Buys Shares of 20,819 Newmont Corporation $NEM

Caitong International Asset Management Co. Ltd bought a new stake in shares of Newmont Corporation (NYSE:NEM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 20,819 shares of the basic materials company’s stock, valued at approximately $2,079,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Reflection Asset Management bought a new position in Newmont during the 4th quarter valued at $108,000. Tobam lifted its holdings in shares of Newmont by 4.3% in the fourth quarter. Tobam now owns 27,938 shares of the basic materials company’s stock valued at $2,790,000 after buying an additional 1,161 shares during the period. Wick Capital Partners LLC bought a new position in Newmont during the fourth quarter valued at about $468,000. Groupama Asset Managment boosted its stake in Newmont by 7.8% during the fourth quarter. Groupama Asset Managment now owns 71,350 shares of the basic materials company’s stock valued at $7,024,000 after buying an additional 5,192 shares in the last quarter. Finally, Oak Grove Capital LLC bought a new stake in Newmont during the fourth quarter worth approximately $1,677,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont News Roundup

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont received major regulatory approvals from British Columbia for its Red Chris Block Cave project, a key milestone that supports a transition from open-pit mining to block caving and extends the mine life into the mid-2040s. The approval improves visibility on future production and could support the stock by advancing Newmont toward a final investment decision later this year. Article Title
• Positive Sentiment: Newmont continues to be viewed as a core name in gold mining, and broader strength in gold/mining shares may be helping sentiment around the stock. This can provide support even when company-specific news is limited. Article Title
• Neutral Sentiment: BNP Paribas Exane lowered its price target on Newmont to $111 from $128 while keeping a neutral rating. That is still above the current share price, but the cut may temper near-term enthusiasm. Article Title
• Negative Sentiment: Reports say Newmont’s Cadia mine was halted after an earthquake, raising concerns about temporary production disruption. Any prolonged shutdown could weigh on output and sentiment until Newmont clarifies the impact. Article Title

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the business’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 $315,960.00. Following the completion of the transaction, the executive vice president directly owned 46,315 shares in the company, valued at approximately $4,877,895.80. The trade was a 6.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $1,473,051.58. Following the transaction, the executive vice president directly owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. The trade was a 16.47% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last quarter, insiders have sold 28,556 shares of company stock worth $3,120,276. 0.06% of the stock is currently owned by company insiders.

Newmont Stock Up 0.1%

Newmont stock opened at $103.86 on Friday. The firm has a market capitalization of $110.88 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 1.72 and a beta of 0.42. Newmont Corporation has a fifty-two week low of $55.37 and a fifty-two week high of $134.88. 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 company’s 50 day simple moving average is $110.02 and its 200 day simple moving average is $110.56.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.83. The company had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.Newmont’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 EPS. As a group, sell-side analysts anticipate that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be issued 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 yield of 1.0%. Newmont’s payout ratio is currently 13.49%.

Analyst Upgrades and Downgrades

NEM has been the topic of several recent analyst reports. Canaccord Genuity Group upped their price target on Newmont from $150.00 to $160.00 and gave the company a “buy” rating in a research report 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, June 1st. Bank of America upped their price objective on shares of Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. National Bank Financial lifted their price objective on Newmont from $130.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Friday, April 24th. Finally, Wall Street Zen downgraded Newmont from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 30th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $140.98.

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.