Newmont Corporation $NEM is ARS Investment Partners LLC’s 2nd Largest Position

ARS Investment Partners LLC lifted its position in shares of Newmont Corporation (NYSE:NEM) by 14.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 795,271 shares of the basic materials company’s stock after buying an additional 98,208 shares during the quarter. Newmont makes up about 4.5% of ARS Investment Partners LLC’s holdings, making the stock its 2nd largest position. ARS Investment Partners LLC’s holdings in Newmont were worth $86,088,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pullen Investment Management LLC raised its position in Newmont by 2.6% during the first quarter. Pullen Investment Management LLC now owns 39,844 shares of the basic materials company’s stock worth $4,313,000 after acquiring an additional 1,002 shares during the last quarter. Brady Martz Wealth Solutions LLC lifted its holdings in shares of Newmont by 19.7% in the first quarter. Brady Martz Wealth Solutions LLC now owns 3,015 shares of the basic materials company’s stock valued at $326,000 after purchasing an additional 497 shares in the last quarter. McAlvany Wealth Management LLC acquired a new stake in shares of Newmont in the fourth quarter valued at approximately $2,711,000. Rockefeller Capital Management L.P. grew its position in shares of Newmont by 5.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 431,746 shares of the basic materials company’s stock valued at $43,110,000 after purchasing an additional 22,133 shares during the last quarter. Finally, World Investment Advisors increased its stake in shares of Newmont by 298.1% during the 4th quarter. World Investment Advisors now owns 19,255 shares of the basic materials company’s stock worth $1,923,000 after purchasing an additional 14,418 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was 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. This represents a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of the 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. This trade represents a 16.47% 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. In the last quarter, insiders sold 28,556 shares of company stock worth $3,120,276. 0.06% of the stock is owned by company insiders.

More 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

Newmont Stock Performance

NYSE:NEM opened at $103.86 on Friday. The firm has a 50 day simple moving average of $110.02 and a 200-day simple moving average 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. The firm has a market cap of $110.88 billion, a PE ratio of 13.47, a P/E/G ratio of 1.72 and a beta of 0.42. Newmont Corporation has a 1-year low of $55.37 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, beating the consensus estimate of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The business had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. The company’s quarterly revenue was up 45.8% compared to the same quarter last year. On average, equities analysts expect that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NEM. 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 report on Friday, April 24th. Argus increased their target price on Newmont from $94.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. The Goldman Sachs Group dropped their price target on Newmont from $125.10 to $122.50 and set a “buy” rating for the company in a research report on Thursday, June 4th. Bank of America boosted their price target on Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Finally, Royal Bank Of Canada reduced their price objective on Newmont from $160.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and a consensus target price of $140.98.

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.