Friedenthal Financial acquired a new stake in Newmont Corporation (NYSE:NEM – Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 9,901 shares of the basic materials company’s stock, valued at approximately $1,072,000.
Other institutional investors have also modified their holdings of the company. GoalVest Advisory LLC purchased a new position in Newmont in the fourth quarter valued at $25,000. Swiss RE Ltd. purchased a new stake in Newmont during the 4th quarter worth about $26,000. Cornerstone Planning Group LLC lifted its holdings in Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after buying an additional 206 shares during the last quarter. Lodestone Wealth Management LLC acquired a new position in shares of Newmont during the 4th quarter worth about $28,000. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of Newmont during the 4th quarter worth about $30,000. 68.85% of the stock is owned by hedge funds and other institutional investors.
Newmont Stock Performance
Shares of NEM opened at $93.75 on Thursday. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The firm has a market cap of $100.08 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 1.62 and a beta of 0.42. The company’s 50 day simple moving average is $108.76 and its 200-day simple moving average is $110.85. Newmont Corporation has a 12-month low of $55.37 and a 12-month high of $134.88.
Newmont Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th were paid a $0.26 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. Newmont’s payout ratio is currently 13.49%.
Newmont News Roundup
Here are the key news stories impacting Newmont this week:
- Positive Sentiment: Newmont received key regulatory approvals for its Red Chris Block Cave project in British Columbia, allowing a transition to block caving and extending the mine’s life into the 2040s. The project is also expected to boost copper output in Canada, which supports longer-term production growth. Newmont Secures Red Chris Approval For A Copper Push Into The 2040s
- Positive Sentiment: BMO Capital Markets cut its price target to $135 from $145 but maintained an “outperform” rating, signaling analysts still see meaningful upside from current levels. BMO Capital Adjusts Price Target on Newmont
- Positive Sentiment: Newmont was included on a Zacks “Strong Buy” value-stocks list, which may reinforce investor interest in the name as a quality/value play. Best Value Stocks to Buy for June 23rd
- Neutral Sentiment: Coverage highlighted Newmont as a stock drawing S&P 500 attention and benefiting from strong gold prices, but these articles were more thematic than event-driven.
- Negative Sentiment: The stock has also been under pressure from a short-term pullback, with recent articles noting weaker trading momentum and a retreat from recent highs. Newmont Corporation (NEM) Dips More Than Broader Market: What You Should Know
Insider Buying and Selling at Newmont
In related news, insider David John Thornton sold 2,296 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total value 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 position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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. Also, EVP Peter Wexler sold 13,378 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $1,473,051.58. Following the sale, the executive vice president directly owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. This represents a 16.47% 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. Insiders sold a total of 28,556 shares of company stock valued at $3,120,276 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. Zacks Research raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 15th. Sanford C. Bernstein raised Newmont from a “market perform” rating to an “outperform” rating and upped their price target for the company from $121.00 to $157.00 in a report on Friday, February 27th. TD Cowen reiterated a “buy” rating on shares of Newmont in a research note on Monday, April 27th. TD Securities reissued a “hold” rating and set a $129.00 price objective on shares of Newmont in a report on Monday, April 27th. Finally, Argus boosted their price objective on shares of Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and a consensus target price of $140.50.
Check Out 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.
Featured Stories
- Five stocks we like better than Newmont
- Why KB Home Could Reward Patient Investors Later
- Meta’s Internal Turmoil: Morale Nears 20-Year Low at the Wrong Time
- Tesla’s New NHTSA Probe Lands at the Worst Possible Time
- Nano Nuclear’s AI Data Center Deal Puts the Stock Back in Focus
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.
