UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Newmont Corporation (NYSE:NEM – Free Report) by 0.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,033,266 shares of the basic materials company’s stock after purchasing an additional 15,091 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.74% of Newmont worth $802,122,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. CWM LLC raised its stake in Newmont by 64.6% during the fourth quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock worth $20,259,000 after acquiring an additional 79,617 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in 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 worth $30,775,000 after acquiring an additional 54,530 shares during the period. AustralianSuper Pty Ltd raised its stake in Newmont by 124.8% during the third quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock worth $27,843,000 after acquiring an additional 183,360 shares during the period. Waverton Investment Management Ltd raised its stake in Newmont by 3.4% during the third quarter. Waverton Investment Management Ltd now owns 704,331 shares of the basic materials company’s stock worth $59,365,000 after acquiring an additional 23,139 shares during the period. Finally, Leonteq Securities AG acquired a new stake in Newmont during the fourth quarter worth about $9,018,000. Institutional investors and hedge funds own 68.85% of the company’s stock.
Newmont Price Performance
Shares of NYSE:NEM opened at $100.10 on Friday. The firm’s 50 day moving average is $110.94 and its two-hundred day moving average is $109.98. Newmont Corporation has a 52 week low of $55.37 and a 52 week high of $134.88. The firm has a market capitalization of $106.86 billion, a P/E ratio of 12.98, a PEG ratio of 1.62 and a beta of 0.42. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15.
Newmont Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. Newmont’s dividend payout ratio (DPR) is 13.49%.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on NEM shares. BMO Capital Markets increased their price objective on shares of Newmont from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Canaccord Genuity Group increased their price objective on shares of Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. National Bank Financial increased their price objective on shares of Newmont from $130.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Friday, April 24th. Scotiabank dropped their price objective 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. Finally, Sanford C. Bernstein upgraded shares of Newmont from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $121.00 to $157.00 in a research note on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Newmont has an average rating of “Moderate Buy” and an average target price of $142.26.
View Our Latest Analysis on NEM
Insiders Place Their Bets
In other 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 transaction, the chief executive officer directly owned 142,999 shares in the company, valued at $15,060,654.68. This trade represents a 2.64% 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. Also, 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 transaction of $252,812.56. Following the completion of the transaction, the insider owned 23,163 shares of the company’s stock, valued at $2,550,477.93. This trade represents a 9.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 49,950 shares of company stock valued at $5,494,288. 0.06% of the stock is currently owned by insiders.
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.
Read More
- Five stocks we like better than Newmont
- SpaceX Rings the Bell and Shatters Every Record
- Adobe Stock Just Got Cheaper—Is Wall Street Missing the Story?
- 3 Dividend Stocks Under $50 That Pay You to Wait Out Inflation
- The 127-Gigawatt Problem: Why AI Needs Its Own Power
Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Corporation (NYSE:NEM – Free Report).
Receive News & Ratings for Newmont Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont and related companies with MarketBeat.com's FREE daily email newsletter.
