Stone Wealth Partners Takes Position in Newmont Corporation $NEM

Stone Wealth Partners purchased a new position in shares of Newmont Corporation (NYSE:NEM) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 5,874 shares of the basic materials company’s stock, valued at approximately $587,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GoalVest Advisory LLC purchased a new position in shares of Newmont in the fourth quarter worth about $25,000. Swiss RE Ltd. purchased a new stake in shares of Newmont during the 4th quarter valued at approximately $26,000. Cornerstone Planning Group LLC lifted its stake in shares of Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after buying an additional 206 shares in the last quarter. JPL Wealth Management LLC bought a new position in Newmont in the 3rd quarter worth approximately $27,000. Finally, Lodestone Wealth Management LLC bought a new position in Newmont in the 4th quarter worth approximately $28,000. 68.85% of the stock is currently owned by institutional investors.

Newmont News Summary

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Several recent reports remain constructive on Newmont’s longer-term outlook, including coverage highlighting the company as a key name in gold mining and analyst commentary pointing to meaningful upside versus current levels. Why Newmont Remains a Key Name In Gold Mining?
• Positive Sentiment: Zacks Research upgraded Newmont from “hold” to “strong-buy,” while another Zacks piece said the stock could have about 30% upside based on Wall Street price targets, reinforcing bullish analyst sentiment. Does Newmont (NEM) Have the Potential to Rally 30.14% as Wall Street Analysts Expect?
• Neutral Sentiment: Newmont announced a management refresh, including new CFO, COO, and technical chief appointments effective July 1. This could support execution over time, but near-term investors may be waiting to see how the new team performs. Newmont (NEM) Appoints New CFO COO And Technical Chief Under Natascha Viljoen
• Negative Sentiment: BNP Paribas Exane cut its price target on Newmont from $128 to $111 and kept a “neutral” rating, which may be weighing on sentiment despite the target still sitting above the current share price. BNP Paribas Exane adjusts price target on Newmont to 111 from 128, maintains neutral rating
• Negative Sentiment: Recent trading commentary noted that Newmont fell even as the broader market moved higher, suggesting investors are taking profits or reacting cautiously after a strong run in the stock. Newmont Corporation (NEM) Stock Falls Amid Market Uptick: What Investors Need to Know

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of analyst reports. Canadian Imperial Bank of Commerce set a $175.00 target price on shares of Newmont and gave the company an “outperform” rating in a report on Monday, June 1st. UBS Group cut their price target on Newmont from $150.00 to $140.00 and set a “buy” rating for the company in a report on Friday, March 27th. TD lifted their price target on Newmont from $116.00 to $129.00 and gave the company a “hold” rating in a research report on Monday, April 27th. Zacks Research upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, BNP Paribas Exane dropped their price objective on Newmont from $128.00 to $111.00 and set a “neutral” rating on the stock in a report on Thursday. Three investment 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 MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.98.

Newmont Stock Performance

NYSE NEM opened at $103.86 on Friday. Newmont Corporation has a 1 year low of $55.37 and a 1 year high of $134.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The stock has a market capitalization of $110.88 billion, a PE ratio of 13.47, a P/E/G ratio of 1.75 and a beta of 0.42. The company’s 50 day simple moving average is $110.31 and its two-hundred day simple moving average is $110.61.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.07 by $0.83. The firm had revenue of $7.31 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm earned $1.25 EPS. Analysts predict that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 1.0%. Newmont’s dividend payout ratio (DPR) is currently 13.49%.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $315,960.00. Following the sale, the executive vice president owned 46,315 shares of the company’s stock, valued at $4,877,895.80. This trade represents a 6.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the sale, the insider owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. This trade represents a 9.02% decrease in their position. The SEC filing for this sale provides additional information. 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 worth $3,120,276 over the last three months. Corporate insiders own 0.06% of the company’s stock.

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.