McAlvany Wealth Management LLC acquired a new stake in shares of Newmont Corporation (NYSE:NEM – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 27,154 shares of the basic materials company’s stock, valued at approximately $2,711,000. Newmont comprises about 2.1% of McAlvany Wealth Management LLC’s investment portfolio, making the stock its 16th largest position.
Several other large investors have also recently made changes to their positions in the company. Rockefeller Capital Management L.P. grew its holdings in Newmont by 5.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 431,746 shares of the basic materials company’s stock valued at $43,110,000 after buying an additional 22,133 shares in the last quarter. World Investment Advisors increased its stake in Newmont by 298.1% in the 4th quarter. World Investment Advisors now owns 19,255 shares of the basic materials company’s stock worth $1,923,000 after acquiring an additional 14,418 shares during the last quarter. Nalls Sherbakoff Group LLC purchased a new stake in shares of Newmont during the 4th quarter worth approximately $30,000. Larry Mathis Financial Planning LLC bought a new position in shares of Newmont during the 4th quarter valued at approximately $569,000. Finally, Corient Private Wealth LLC boosted its position in shares of Newmont by 34.1% during the 4th quarter. Corient Private Wealth LLC now owns 129,422 shares of the basic materials company’s stock valued at $12,929,000 after acquiring an additional 32,944 shares during the last quarter. 68.85% of the stock is owned by institutional investors.
Insider Activity
In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $315,960.00. Following the completion of the transaction, the executive vice president directly owned 46,315 shares of the company’s stock, valued at approximately $4,877,895.80. The trade was a 6.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the company’s 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 transaction, the insider owned 23,163 shares in the company, valued at $2,550,477.93. The trade was a 9.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In the last ninety days, insiders sold 28,556 shares of company stock worth $3,120,276. Insiders own 0.06% of the company’s stock.
Trending Headlines about Newmont
- Positive Sentiment: Newmont received major regulatory approvals from British Columbia for its Red Chris Block Cave project, a key milestone that supports a transition from open-pit mining to block caving and extends the mine life into the mid-2040s. The approval improves visibility on future production and could support the stock by advancing Newmont toward a final investment decision later this year. Article Title
- Positive Sentiment: Newmont continues to be viewed as a core name in gold mining, and broader strength in gold/mining shares may be helping sentiment around the stock. This can provide support even when company-specific news is limited. Article Title
- Neutral Sentiment: BNP Paribas Exane lowered its price target on Newmont to $111 from $128 while keeping a neutral rating. That is still above the current share price, but the cut may temper near-term enthusiasm. Article Title
- Negative Sentiment: Reports say Newmont’s Cadia mine was halted after an earthquake, raising concerns about temporary production disruption. Any prolonged shutdown could weigh on output and sentiment until Newmont clarifies the impact. Article Title
Analyst Ratings Changes
Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada reduced their price target on shares of Newmont from $160.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 3rd. Wall Street Zen lowered shares of Newmont from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 30th. Bank of America lifted their price objective on shares of Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Argus boosted their target price on shares of Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Finally, Zacks Research upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 15th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $140.98.
Check Out Our Latest Report on NEM
Newmont Price Performance
Shares of Newmont stock opened at $103.86 on Friday. The stock has a market cap of $110.88 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 1.72 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. The stock has a 50 day moving average price of $110.02 and a 200-day moving average price of $110.56. Newmont Corporation has a one year low of $55.37 and a one year high of $134.88.
Newmont (NYSE:NEM – Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.83. The company had revenue of $7.31 billion for 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 quarterly revenue was up 45.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 EPS. Equities analysts expect that Newmont Corporation will post 9.91 EPS for the current year.
Newmont Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. Newmont’s payout ratio is 13.49%.
Newmont Company 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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