Newmont Corporation $NEM Stock Position Decreased by Generate Investment Management Ltd

Generate Investment Management Ltd lowered its holdings in Newmont Corporation (NYSE:NEM) by 53.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 200,000 shares of the basic materials company’s stock after selling 228,975 shares during the period. Newmont comprises about 1.1% of Generate Investment Management Ltd’s investment portfolio, making the stock its 23rd biggest holding. Generate Investment Management Ltd’s holdings in Newmont were worth $21,650,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NEM. GoalVest Advisory LLC bought a new stake in shares of Newmont in the 4th quarter worth approximately $25,000. Swiss RE Ltd. bought a new position in Newmont during the 4th quarter worth $26,000. Cornerstone Planning Group LLC grew 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 buying an additional 206 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in Newmont in the third quarter worth $27,000. Finally, Lodestone Wealth Management LLC acquired a new stake in Newmont in the fourth quarter worth $28,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Trading Down 1.9%

NYSE:NEM opened at $101.78 on Tuesday. The stock has a market cap of $108.65 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 1.72 and a beta of 0.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. Newmont Corporation has a 1 year low of $55.37 and a 1 year high of $134.88. The business has a fifty day moving average of $109.68 and a 200-day moving average of $110.77.

Newmont (NYSE:NEM) last issued its quarterly earnings data 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. The business had revenue of $7.31 billion for 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 was up 45.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.25 earnings per share. Equities analysts predict that Newmont Corporation will post 9.91 earnings per share for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 1.0%. Newmont’s dividend payout ratio (DPR) is presently 13.49%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NEM. TD Cowen reissued a “buy” rating on shares of Newmont in a report on Monday, April 27th. Zacks Research raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, June 15th. Argus boosted their target price on shares of Newmont from $94.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. 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, Bank of America raised their price target on shares of Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.98.

Insider Activity at Newmont

In other news, insider David John Thornton sold 2,296 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the transaction, the insider directly owned 23,163 shares in the company, valued at $2,550,477.93. This trade represents a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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, EVP Peter Toth sold 3,000 shares of the firm’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 transaction of $315,960.00. Following the transaction, the executive vice president owned 46,315 shares in the company, valued at $4,877,895.80. This represents a 6.08% decrease in their position. 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. Insiders have sold a total of 28,556 shares of company stock valued at $3,120,276 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

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.