Sequoia Financial Advisors LLC lifted its stake in shares of Newmont Corporation (NYSE:NEM – Free Report) by 25.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 41,179 shares of the basic materials company’s stock after buying an additional 8,301 shares during the period. Sequoia Financial Advisors LLC’s holdings in Newmont were worth $4,458,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NEM. Walled Lake Planning & Wealth Management LLC grew its position in Newmont by 67.3% during the first quarter. Walled Lake Planning & Wealth Management LLC now owns 4,081 shares of the basic materials company’s stock valued at $442,000 after buying an additional 1,641 shares during the period. Cedar Mountain Advisors LLC purchased a new stake in shares of Newmont during the first quarter worth $25,000. Equitable Trust Co. boosted its stake in Newmont by 5.7% in the 1st quarter. Equitable Trust Co. now owns 3,349 shares of the basic materials company’s stock worth $363,000 after purchasing an additional 182 shares during the period. Roman Butler Fullerton & Co. purchased a new position in Newmont during the first quarter valued at approximately $358,000. Finally, Range Financial Group LLC increased its holdings in shares of Newmont by 0.7% in the first quarter. Range Financial Group LLC now owns 28,686 shares of the basic materials company’s stock worth $3,105,000 after purchasing an additional 190 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.
Newmont Stock Performance
NYSE NEM opened at $95.30 on Monday. The company has a 50-day simple moving average of $104.35 and a two-hundred day simple moving average of $110.68. Newmont Corporation has a 12-month low of $55.37 and a 12-month high of $134.88. The firm has a market cap of $101.74 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 1.08 and a beta of 0.46. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15.
Newmont Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, May 27th. Newmont’s payout ratio is 13.49%.
Analyst Ratings Changes
Several research firms have recently weighed in on NEM. Macquarie Infrastructure lowered their price objective on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday, June 15th. Jefferies Financial Group reduced their target price on Newmont from $158.00 to $146.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. TD Cowen reaffirmed a “buy” rating on shares of Newmont in a research note on Monday, April 27th. UBS Group cut their price objective on Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Finally, Canaccord Genuity Group increased their price objective on Newmont from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. 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 company. According to data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.64.
Read Our Latest Stock Report on Newmont
Insider Buying and Selling
In related news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $92.38, for a total transaction of $277,140.00. Following the completion of the sale, the executive vice president directly owned 43,315 shares in the company, valued at $4,001,439.70. This represents a 6.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $408,852.24. Following the sale, the chief executive officer directly owned 142,999 shares of the company’s stock, valued at $15,060,654.68. The trade was a 2.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 28,556 shares of company stock worth $3,058,146. Company insiders own 0.06% of the company’s stock.
Newmont News Summary
Here are the key news stories impacting Newmont this week:
- Positive Sentiment: Newmont welcomed the Government of Canada’s CA$500 million funding commitment for the Red Chris Block Cave project, a move that improves the economics of a key copper-gold development and could extend the mine’s life. Newmont (NEM) Welcomes Canada Funding for Red Chris
- Positive Sentiment: UBS and Macquarie both reiterated Buy ratings on Newmont, while Bank of America also kept a Buy rating even after cutting its price target to $132, signaling analysts still see upside from current levels. UBS Keeps Their Buy Rating on Newmont Corporation CHESS (NEM)
- Positive Sentiment: Articles highlighting Newmont as undervalued and benefiting from a rebound in gold prices suggest investor interest is rising as the precious-metals trade improves. Newmont (NEM) Stock Looks Cheap On Earnings While Cash Flow Looks Fair
- Positive Sentiment: Recent trading has shown Newmont outperforming the broader market, with coverage citing renewed momentum in the stock and in gold-related names. Newmont Corporation (NEM) Outperforms Broader Market: What You Need to Know
- Neutral Sentiment: One valuation piece said Newmont looks close to fair value around the low-$90s, which may limit near-term enthusiasm even though it doesn’t signal a major downside concern. Newmont (NEM) Stock Looks Cheap On Earnings While Cash Flow Looks Fair
- Negative Sentiment: Despite the recent bounce, Newmont has still been under pressure over the past few months, and Bank of America’s price-target cut reflects some caution about the stock’s longer-term upside. Bank of America price target update on Newmont
About Newmont
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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