Capitolis Liquid Global Markets LLC boosted its position in shares of Newmont Corporation (NYSE:NEM – Free Report) by 672.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 283,818 shares of the basic materials company’s stock after purchasing an additional 247,059 shares during the period. Capitolis Liquid Global Markets LLC’s holdings in Newmont were worth $28,339,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. CWM LLC lifted its position in Newmont by 64.6% during the fourth quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock valued at $20,259,000 after purchasing an additional 79,617 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position 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 valued at $30,775,000 after purchasing an additional 54,530 shares during the last quarter. AustralianSuper Pty Ltd lifted its position in Newmont by 124.8% during the third quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock valued at $27,843,000 after purchasing an additional 183,360 shares during the last quarter. Leonteq Securities AG bought a new stake in Newmont during the fourth quarter valued at approximately $9,018,000. Finally, Waverton Investment Management Ltd lifted its position 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 valued at $59,365,000 after purchasing an additional 23,139 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.
More Newmont News
Here are the key news stories impacting Newmont this week:
- Positive Sentiment: Zacks upgraded Newmont from hold to strong-buy, reinforcing a more optimistic view on the stock’s near-term prospects.
- Positive Sentiment: Wall Street’s average price target implies about 30% upside, with analysts also pointing to rising earnings estimates as a supportive signal for the shares. Article: Does Newmont (NEM) Have the Potential to Rally 30.14% as Wall Street Analysts Expect?
- Positive Sentiment: Newmont announced a leadership reshuffle, naming new CFO, COO, and CTO appointments effective July 1, which investors may see as a move to sharpen execution under CEO Natascha Viljoen.
- Positive Sentiment: Several recent articles highlight Newmont as a value or buy idea and note that the company remains well positioned if gold prices rebound, which is supportive for a gold miner.
- Neutral Sentiment: Other coverage focused on comparison pieces and broad investor interest, but these are less likely to move the stock on their own.
Insider Activity
Newmont Trading Down 2.7%
Shares of NEM opened at $105.55 on Thursday. The firm has a market cap of $112.68 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 1.80 and a beta of 0.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. Newmont Corporation has a fifty-two week low of $55.37 and a fifty-two week high of $134.88. The firm has a 50 day moving average price of $110.52 and a 200-day moving average price of $110.51.
Newmont (NYSE:NEM – Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. The firm had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The business’s quarterly revenue was up 45.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 EPS. As a group, equities research analysts forecast that Newmont Corporation will post 9.91 earnings per share for the current year.
Newmont Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be issued a dividend of $0.26 per share. 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 Analysts Forecast Growth
Several equities research analysts have issued reports on the stock. Citigroup lifted their target price 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. Canadian Imperial Bank of Commerce set a $175.00 price objective on shares of Newmont and gave the stock an “outperform” rating in a report on Monday, June 1st. Argus boosted their price objective on shares of Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. The Goldman Sachs Group lowered their price objective on shares of Newmont from $125.10 to $122.50 and set a “buy” rating for the company in a report on Thursday, June 4th. Finally, Weiss Ratings lowered shares of Newmont from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 27th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average target price of $141.79.
View Our Latest Stock Analysis on NEM
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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