Assetmark Inc. lifted its stake in shares of Newmont Corporation (NYSE:NEM – Free Report) by 6.1% in the 1st quarter, Holdings Channel reports. The institutional investor owned 3,044,674 shares of the basic materials company’s stock after acquiring an additional 174,179 shares during the quarter. Assetmark Inc.’s holdings in Newmont were worth $329,586,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of NEM. GoalVest Advisory LLC acquired a new stake in Newmont during the 4th quarter worth $25,000. Pinnacle Bancorp Inc. purchased a new stake in Newmont in the first quarter valued at $25,000. Cedar Mountain Advisors LLC acquired a new position in Newmont in the first quarter valued at $25,000. Swiss RE Ltd. acquired a new position in Newmont in the fourth quarter valued at $26,000. Finally, Cornerstone Planning Group LLC grew its holdings in shares of Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 206 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.
Newmont Stock Down 4.6%
Newmont stock opened at $90.83 on Friday. The stock has a 50 day moving average of $102.85 and a two-hundred day moving average of $110.35. Newmont Corporation has a twelve month low of $56.73 and a twelve month high of $134.88. The stock has a market capitalization of $96.96 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 1.08 and a beta of 0.46. 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 company also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Wednesday, May 27th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is 13.49%.
Analysts Set New Price Targets
A number of analysts have recently commented on NEM shares. Citigroup reiterated a “positive” rating on shares of Newmont in a research report on Wednesday. Macquarie Infrastructure dropped their price target on Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, June 15th. TD raised Newmont from a “hold” rating to a “buy” rating and cut their price target for the stock from $129.00 to $127.00 in a research report on Tuesday. National Bank Financial reduced their price objective on Newmont from $140.00 to $125.00 and set a “sector perform” rating for the company in a research note on Tuesday. Finally, Weiss Ratings downgraded Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.26.
Read Our Latest Stock Analysis on Newmont
Insider Activity
In other news, CEO Natascha Viljoen sold 3,882 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $15,060,654.68. This trade represents a 2.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 dated 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 in the company, valued at approximately $2,550,477.93. The trade was a 9.02% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 28,556 shares of company stock valued at $3,058,146. 0.06% of the stock is owned by corporate insiders.
Newmont News Summary
Here are the key news stories impacting Newmont this week:
- Negative Sentiment: Zacks Research downgraded Newmont from “strong-buy” to “hold,” adding to near-term pressure on the stock. Newmont was downgraded by Zacks Research from “strong-buy” to “hold”.
- Negative Sentiment: Investors are also worried about the upcoming quarterly report, as coverage notes Newmont may not have the setup for an earnings beat even though EPS is expected to grow. Newmont Corporation (NEM) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
- Neutral Sentiment: Newmont resumed operations at its Cadia mine after a seismic event, and management said inspections found no injuries or damage. That removes an operational overhang, but the company still faces higher costs and softer gold prices. Newmont (NEM) Resumes Cadia Operations As It Pushes Ahead With Key Growth Projects
- Positive Sentiment: Several analysts remain constructive, with reports pointing to improved operational efficiency, growing free cash flow, and share buybacks as Newmont works through Newcrest integration. Did Analyst Upgrades and Buybacks Just Shift Newmont’s (NEM) Operational Efficiency Investment Narrative?
- Positive Sentiment: Some analysts also argued Newmont looks undervalued, citing permits that could unlock major copper-gold resources and support a production rebound. Newmont: The Permits That Set The Stage For A Re-Rating
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.
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