Newmont Corporation $NEM Shares Acquired by Arbejdsmarkedets Tillaegspension

Arbejdsmarkedets Tillaegspension raised its position in shares of Newmont Corporation (NYSE:NEM) by 3.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 255,873 shares of the basic materials company’s stock after buying an additional 8,674 shares during the period. Newmont comprises 0.7% of Arbejdsmarkedets Tillaegspension’s holdings, making the stock its 2nd largest position. Arbejdsmarkedets Tillaegspension’s holdings in Newmont were worth $27,698,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Apella Capital LLC boosted its position in shares of Newmont by 4.1% in the fourth quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock worth $219,000 after buying an additional 86 shares during the period. New Wave Wealth Advisors LLC boosted its position in Newmont by 1.3% during the 4th quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock worth $684,000 after acquiring an additional 88 shares during the period. Novem Group grew its stake in Newmont by 3.7% during the 4th quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock valued at $248,000 after acquiring an additional 88 shares in the last quarter. Norden Group LLC grew its stake in Newmont by 0.7% during the 4th quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock valued at $1,235,000 after acquiring an additional 90 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in Newmont by 1.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock worth $714,000 after buying an additional 96 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on NEM shares. Weiss Ratings cut shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Raymond James Financial cut their price target on shares of Newmont from $139.00 to $137.00 and set an “outperform” rating on the stock in a report on Tuesday, June 30th. TD lifted their price objective on shares of Newmont from $116.00 to $129.00 and gave the company a “hold” rating in a research note on Monday, April 27th. BMO Capital Markets cut their price objective on Newmont from $145.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 23rd. Finally, Barclays began coverage on Newmont in a report on Thursday, May 21st. They issued an “overweight” rating and a $133.00 target price for the company. 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $137.64.

Insiders Place Their Bets

In other news, EVP Peter Wexler sold 13,378 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 transaction of $1,473,051.58. Following the sale, the executive vice president directly owned 67,865 shares of the company’s stock, valued at $7,472,615.15. This represents a 16.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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, CEO Natascha Viljoen sold 3,882 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 $408,852.24. Following the transaction, the chief executive officer directly owned 142,999 shares in the company, valued at approximately $15,060,654.68. This represents a 2.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,556 shares of company stock valued at $3,058,146 over the last quarter. 0.06% of the stock is owned by insiders.

Newmont Price Performance

Shares of Newmont stock opened at $95.30 on Monday. The firm has a fifty day moving average price of $104.35 and a two-hundred day moving average price of $110.68. 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 company has a market cap of $101.74 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.08 and a beta of 0.46. Newmont Corporation has a fifty-two week low of $55.37 and a fifty-two week high of $134.88.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 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%.Newmont’s revenue was up 45.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 earnings per share. Analysts expect that Newmont Corporation will post 9.32 EPS for the current year.

Newmont Dividend Announcement

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

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont welcomed the Government of Canada’s CA$500 million funding commitment for the Red Chris Block Cave project, a move that improves the economics of a key copper-gold development and could extend the mine’s life. Newmont (NEM) Welcomes Canada Funding for Red Chris
• Positive Sentiment: UBS and Macquarie both reiterated Buy ratings on Newmont, while Bank of America also kept a Buy rating even after cutting its price target to $132, signaling analysts still see upside from current levels. UBS Keeps Their Buy Rating on Newmont Corporation CHESS (NEM)
• Positive Sentiment: Articles highlighting Newmont as undervalued and benefiting from a rebound in gold prices suggest investor interest is rising as the precious-metals trade improves. Newmont (NEM) Stock Looks Cheap On Earnings While Cash Flow Looks Fair
• Positive Sentiment: Recent trading has shown Newmont outperforming the broader market, with coverage citing renewed momentum in the stock and in gold-related names. Newmont Corporation (NEM) Outperforms Broader Market: What You Need to Know
• Neutral Sentiment: One valuation piece said Newmont looks close to fair value around the low-$90s, which may limit near-term enthusiasm even though it doesn’t signal a major downside concern. Newmont (NEM) Stock Looks Cheap On Earnings While Cash Flow Looks Fair
• Negative Sentiment: Despite the recent bounce, Newmont has still been under pressure over the past few months, and Bank of America’s price-target cut reflects some caution about the stock’s longer-term upside. Bank of America price target update on Newmont

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.