Newmont Corporation $NEM Shares Bought by Corient Private Wealth LLC

Corient Private Wealth LLC increased its holdings in Newmont Corporation (NYSE:NEM) by 34.1% during the fourth quarter, Holdings Channel reports. The firm owned 129,422 shares of the basic materials company’s stock after purchasing an additional 32,944 shares during the period. Corient Private Wealth LLC’s holdings in Newmont were worth $12,929,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CWM LLC boosted its holdings in shares of Newmont by 64.6% in the fourth quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock worth $20,259,000 after buying an additional 79,617 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Newmont by 24.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock valued at $30,775,000 after acquiring an additional 54,530 shares during the period. AustralianSuper Pty Ltd lifted its position in shares of Newmont by 124.8% in the 3rd quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock valued at $27,843,000 after acquiring an additional 183,360 shares in the last quarter. Leonteq Securities AG acquired a new position in Newmont in the 4th quarter worth approximately $9,018,000. Finally, Waverton Investment Management Ltd lifted its holdings in shares of Newmont by 3.4% in the third quarter. Waverton Investment Management Ltd now owns 704,331 shares of the basic materials company’s stock valued at $59,365,000 after purchasing an additional 23,139 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

More Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont received key regulatory approvals from British Columbia for its Red Chris Block Cave transition, allowing the mine to move from open-pit operations toward block caving and extending the asset’s mine life. Newmont (NEM) Receives Key Regulatory Approvals for Red Chris Block Cave Transition
• Positive Sentiment: Analysts continue to place Newmont on “Strong Buy” value-stock lists, reinforcing the view that the stock may be undervalued relative to its earnings and asset base. Best Value Stocks to Buy for June 23rd
• Positive Sentiment: Gold-sector coverage is supportive, with articles highlighting Newmont as a key name to watch while gold prices stay strong, which is favorable for a major gold producer like NEM. Why Is (NYSE:NEM) Drawing S&P 500 Attention as Gold Stays Strong?
• Neutral Sentiment: Newmont also announced CFO, COO, and CTO appointments, which may help clarify leadership structure, but the move is not likely to materially change fundamentals in the near term. Newmont Corporation (NEM) Announces CFO, COO, CTO Appointments

Newmont Trading Down 4.0%

NYSE:NEM opened at $97.71 on Wednesday. The stock’s 50 day moving average price is $109.22 and its 200 day moving average price is $110.83. Newmont Corporation has a 52 week low of $55.37 and a 52 week high of $134.88. The company has a market capitalization of $104.31 billion, a P/E ratio of 12.67, a P/E/G ratio of 1.69 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 (NYSE:NEM) last posted its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating 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 was up 45.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.25 earnings per share. On average, research analysts forecast that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, May 27th. Newmont’s dividend payout ratio is presently 13.49%.

Insider Buying and Selling at Newmont

In other news, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the transaction, the chief executive officer owned 142,999 shares of the company’s stock, valued at approximately $15,060,654.68. This represents a 2.64% decrease in their position. The sale 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. Also, insider David John Thornton sold 2,296 shares of the firm’s 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. The trade was a 9.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 ninety days, insiders sold 28,556 shares of company stock valued at $3,120,276. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NEM. Zacks Research upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, June 15th. Scotiabank lowered their target price on Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a research note on Friday, March 20th. TD Cowen reiterated a “buy” rating on shares of Newmont in a report on Monday, April 27th. Wall Street Zen cut shares of Newmont from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. Finally, Royal Bank Of Canada dropped their price objective on shares of Newmont from $160.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 3rd. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average target price of $140.98.

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.