Intellectus Partners LLC Has $2.45 Million Stock Holdings in Newmont Corporation $NEM

Intellectus Partners LLC trimmed its stake in shares of Newmont Corporation (NYSE:NEM) by 18.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,508 shares of the basic materials company’s stock after selling 5,637 shares during the quarter. Intellectus Partners LLC’s holdings in Newmont were worth $2,447,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NEM. Brighton Jones LLC increased its position in Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after purchasing an additional 1,847 shares in the last quarter. Woodline Partners LP increased its position in Newmont by 40.7% during the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock worth $4,644,000 after purchasing an additional 27,813 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Newmont during the 2nd quarter worth approximately $240,000. Cerity Partners LLC increased its position in Newmont by 108.9% during the 2nd quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock worth $7,303,000 after purchasing an additional 65,342 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in Newmont by 8.5% during the 2nd quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock worth $2,854,000 after purchasing an additional 3,856 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 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 $315,960.00. Following the completion of the sale, the executive vice president directly owned 46,315 shares in the company, valued at $4,877,895.80. This represents a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the sale, the chief executive officer owned 142,999 shares of the company’s stock, valued at approximately $15,060,654.68. This trade represents a 2.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 49,950 shares of company stock valued at $5,494,288 over the last 90 days. 0.06% of the stock is owned by company insiders.

Newmont Trading Down 1.7%

NEM opened at $107.62 on Thursday. Newmont Corporation has a twelve month low of $52.08 and a twelve month high of $134.88. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average of $111.55 and a 200-day moving average of $109.47. The stock has a market cap of $114.89 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 1.82 and a beta of 0.42.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same period in the prior year, the company posted $1.25 earnings per share. Newmont’s revenue for the quarter was up 45.8% compared to the same quarter last year. On average, sell-side analysts predict that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders 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 annualized dividend and a dividend yield of 1.0%. Newmont’s dividend payout ratio is 13.49%.

Key Stories Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Seeking Alpha highlighted Newmont’s strong cash generation, saying its cash flow “explosion” may just be beginning, supported by a new $6 billion buyback authorization, record first-quarter free cash flow, and long-term gold price tailwinds. Newmont: Gold’s Volatility Creates A Long-Term Opportunity
• Positive Sentiment: Royal Bank of Canada kept an Outperform rating on Newmont, even after trimming its price target to $140 from $160, implying meaningful upside from current levels. RBC adjusts price target on Newmont
• Neutral Sentiment: Newmont remains a frequent topic among investors and screeners, with multiple articles questioning valuation after the stock’s sharp 1-year rally and noting that shares are trading near estimated fair value. A Look At Newmont (NEM) Valuation As Shares Trade Near Estimated Fair Value
• Negative Sentiment: CEO Natascha Viljoen and EVP Peter Toth both sold shares in pre-arranged 10b5-1 transactions, which can sometimes weigh on sentiment even though the sales were scheduled in advance.
• Neutral Sentiment: One article questioned whether it is too late to reassess the stock after a roughly 96% one-year surge, reflecting investor debate about whether much of the upside is already priced in. Is It Too Late To Reassess Newmont (NEM) After Its 1 Year 96% Surge?

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. National Bank Financial upped their price objective on shares of Newmont from $130.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Citigroup upped their price target 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. Royal Bank Of Canada decreased their price target on shares of Newmont from $160.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday. Canadian Imperial Bank of Commerce set a $175.00 price target on shares of Newmont and gave the company an “outperform” rating in a research report on Monday. Finally, TD Cowen restated a “buy” rating on shares of Newmont in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.20.

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.