9,399 Shares in Newmont Corporation $NEM Acquired by Ascentis Independent Advisors

Ascentis Independent Advisors purchased a new position in Newmont Corporation (NYSE:NEM) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 9,399 shares of the basic materials company’s stock, valued at approximately $1,018,000.

A number of other institutional investors and hedge funds also recently modified their holdings of NEM. Vanguard Group Inc. grew its holdings in shares of Newmont by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company’s stock worth $13,390,613,000 after acquiring an additional 637,996 shares during the last quarter. State Street Corp boosted its position in shares of Newmont by 1.0% in the 4th quarter. State Street Corp now owns 49,959,850 shares of the basic materials company’s stock valued at $4,988,491,000 after purchasing an additional 480,223 shares during the period. Van ECK Associates Corp boosted its position in shares of Newmont by 23.4% in the 4th quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock valued at $2,973,539,000 after purchasing an additional 5,643,496 shares during the period. Geode Capital Management LLC increased its stake in Newmont by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company’s stock worth $2,738,756,000 after purchasing an additional 946,824 shares in the last quarter. Finally, Norges Bank purchased a new position in Newmont in the 4th quarter worth about $1,443,128,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NEM stock opened at $94.95 on Wednesday. Newmont Corporation has a fifty-two week low of $55.37 and a fifty-two week high of $134.88. The stock’s 50-day moving average is $105.35 and its two-hundred day moving average is $110.83. 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 $101.36 billion, a P/E ratio of 12.32, a PEG ratio of 1.63 and a beta of 0.46.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter in the previous year, the business posted $1.25 EPS. The firm’s quarterly revenue was up 45.8% compared to the same quarter last year. Analysts predict that Newmont Corporation will post 9.87 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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 $0.26 dividend. 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 payout ratio is currently 13.49%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Jefferies Financial Group reduced their price objective on shares of Newmont from $158.00 to $146.00 and set a “buy” rating for the company in a research note on Monday. Macquarie Infrastructure reduced their price target on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a research report on Monday, June 15th. Canadian Imperial Bank of Commerce set a $175.00 price objective on shares of Newmont and gave the stock an “outperform” rating in a research note on Monday, June 1st. Argus lifted their price objective on shares of Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Finally, Scotiabank cut their target price on shares of Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a research note on Friday, March 20th. Three investment 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $138.78.

Newmont News Summary

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Jefferies reiterated a Buy rating on Newmont and still sees upside even after trimming its price target to $146, which supports the stock’s long-term valuation case. Benzinga source
• Positive Sentiment: Recent coverage highlighted Newmont as a leader among gold stocks, with commentary pointing to higher gold prices as a potential driver of earnings and share performance. Article title
• Positive Sentiment: Analyst and market recaps note Newmont’s strong operating profile, including a recent earnings beat and continued investor interest in the gold miner. Article title

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $92.38, for a total transaction of $277,140.00. Following the transaction, the executive vice president owned 43,315 shares in the company, valued at approximately $4,001,439.70. This trade represents a 6.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Newmont stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $252,812.56. Following the completion of the sale, 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. 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 90 days, insiders have sold 28,556 shares of company stock worth $3,058,146. Company 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.