Core Capital Management & Research inc. purchased a new stake in Newmont Corporation (NYSE:NEM – Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 5,000 shares of the basic materials company’s stock, valued at approximately $467,000.
A number of other institutional investors and hedge funds have also made changes to their positions in NEM. California State Teachers Retirement System grew its holdings in Newmont by 9,010.9% during the 2nd quarter. California State Teachers Retirement System now owns 155,311,124 shares of the basic materials company’s stock worth $14,506,059,000 after acquiring an additional 153,606,457 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Newmont in the 2nd quarter valued at $11,289,753,000. State Street Corp raised its holdings 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 in the last quarter. Van ECK Associates Corp purchased a new stake in Newmont during the 2nd quarter worth about $671,197,000. Finally, Geode Capital Management LLC lifted its stake in Newmont by 3.6% during the fourth 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 last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.
Newmont Trading Up 1.4%
NYSE:NEM opened at $128.81 on Thursday. Newmont Corporation has a 1 year low of $76.05 and a 1 year high of $135.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The stock has a fifty day moving average price of $109.24 and a two-hundred day moving average price of $109.69. The stock has a market capitalization of $135.73 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 1.79 and a beta of 0.52.
Newmont Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, September 3rd. Newmont’s dividend payout ratio is presently 13.13%.
Insider Buying and Selling at Newmont
In other news, CFO Brian Tabolt sold 11,445 shares of Newmont stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the sale, the chief financial officer directly owned 29,324 shares in the company, valued at approximately $3,081,659.16. This trade represents a 28.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Natascha Viljoen sold 7,764 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total value of $807,456.00. Following the sale, the chief executive officer directly owned 135,235 shares in the company, valued at $14,064,440. This trade represents a 5.43% 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. Over the last three months, insiders sold 32,091 shares of company stock valued at $3,414,187. Corporate insiders own 0.06% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on NEM. Wall Street Zen downgraded Newmont from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Bank of America cut their price target on Newmont from $157.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. National Bank Financial lowered their price objective on shares of Newmont from $140.00 to $125.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. Macquarie Infrastructure cut their price objective 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. Finally, UBS Group lowered their target price on shares of Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $132.11.
Get Our Latest Analysis on Newmont
Newmont Profile
Newmont Corporation (NYSE: NEM) is a global mining company primarily focused on the exploration, development and production of gold. The company also produces copper, silver, zinc and lead as byproducts or from polymetallic operations. Its activities include operating mines, developing mineral projects and managing related processing and infrastructure assets.
Founded in 1921, Newmont became one of the first gold companies to be listed on the New York Stock Exchange. The company expanded significantly with its acquisition of Newcrest Mining, completed in 2023, which added major assets in Australia, Canada and Papua New Guinea to its portfolio.
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