BI Asset Management Fondsmaeglerselskab A S Lowers Stock Position in Newmont Corporation $NEM

BI Asset Management Fondsmaeglerselskab A S trimmed its position in shares of Newmont Corporation (NYSE:NEM) by 15.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 862,311 shares of the basic materials company’s stock after selling 161,273 shares during the period. Newmont makes up about 1.0% of BI Asset Management Fondsmaeglerselskab A S’s holdings, making the stock its 21st biggest holding. BI Asset Management Fondsmaeglerselskab A S’s holdings in Newmont were worth $93,345,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in NEM. Vanguard Group Inc. boosted its holdings in Newmont by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company’s stock valued at $13,390,613,000 after acquiring an additional 637,996 shares during the last quarter. State Street Corp increased its stake in Newmont by 1.0% during the fourth quarter. State Street Corp now owns 49,959,850 shares of the basic materials company’s stock worth $4,988,491,000 after acquiring an additional 480,223 shares during the last quarter. Van ECK Associates Corp increased its stake in Newmont by 23.4% during the fourth quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock worth $2,973,539,000 after acquiring an additional 5,643,496 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 during the period. Finally, Norges Bank purchased a new position in shares of Newmont in the 4th quarter worth about $1,443,128,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Newmont news, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $408,852.24. Following the completion of the sale, the chief executive officer owned 142,999 shares of the company’s stock, valued at $15,060,654.68. This trade represents a 2.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of Newmont 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 sale, 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. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,556 shares of company stock worth $3,120,276 over the last three months. Insiders own 0.06% of the company’s stock.

Newmont Trading Up 0.1%

Shares of NEM opened at $103.86 on Friday. Newmont Corporation has a 12 month low of $55.37 and a 12 month high of $134.88. The stock’s 50-day moving average is $110.02 and its two-hundred day moving average is $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 stock 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 (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 business had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.25 earnings per share. Equities analysts forecast that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NEM shares. National Bank Financial boosted their target price on Newmont from $130.00 to $140.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. TD raised their price target on shares of Newmont from $116.00 to $129.00 and gave the company a “hold” rating in a report on Monday, April 27th. Citigroup lifted their price target on shares of Newmont from $118.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Macquarie Infrastructure decreased their price objective on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a research note on Monday, June 15th. Finally, 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 report on Monday, June 1st. Three equities research 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 company’s stock. Based on data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and an average price target of $140.98.

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

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.