AEGON ASSET MANAGEMENT UK Plc Sells 229,088 Shares of Newmont Corporation $NEM

AEGON ASSET MANAGEMENT UK Plc lessened its holdings in shares of Newmont Corporation (NYSE:NEM) by 48.2% during the first quarter, HoldingsChannel.com reports. The firm owned 246,518 shares of the basic materials company’s stock after selling 229,088 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in Newmont were worth $26,678,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. GoalVest Advisory LLC bought a new stake in shares of Newmont in the fourth quarter valued at approximately $25,000. Swiss RE Ltd. acquired a new stake in Newmont during the fourth quarter worth approximately $26,000. Cornerstone Planning Group LLC increased its stake in Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 206 shares during the period. Lodestone Wealth Management LLC bought a new position in Newmont during the 4th quarter worth $28,000. Finally, Laurel Wealth Advisors LLC acquired a new position in Newmont in the 4th quarter valued at $30,000. 68.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NEM shares. BNP Paribas Exane cut their target price on Newmont from $128.00 to $111.00 and set a “neutral” rating for the company in a research report on Thursday. Barclays assumed coverage on Newmont in a research report on Thursday, May 21st. They issued an “overweight” rating and a $133.00 price target on the stock. UBS Group dropped their price target on Newmont from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Wall Street Zen cut shares of Newmont from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 30th. Finally, Canaccord Genuity Group increased their price objective on shares of Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $140.98.

Newmont Stock Up 0.1%

NYSE NEM opened at $103.86 on Friday. The business has a fifty day moving average price of $110.02 and a two-hundred day moving average price of $110.56. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. Newmont Corporation has a fifty-two week low of $55.37 and a fifty-two week high of $134.88. The stock has a market capitalization of $110.88 billion, a PE ratio of 13.47, a PEG ratio of 1.72 and a beta of 0.42.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter last year, the business posted $1.25 EPS. The company’s revenue was up 45.8% compared to the same quarter last year. Equities analysts expect that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors 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 annualized dividend and a yield of 1.0%. Newmont’s dividend payout ratio (DPR) is 13.49%.

Key Newmont News

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

Insiders Place Their Bets

In other Newmont news, EVP Peter Wexler sold 13,378 shares of Newmont 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 owned 67,865 shares in the company, valued at $7,472,615.15. The trade was a 16.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 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 $252,812.56. Following the transaction, the insider directly owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. The trade was a 9.02% 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 three months, insiders have sold 28,556 shares of company stock worth $3,120,276. Insiders own 0.06% of the company’s stock.

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.