10,196 Shares in Newmont Corporation $NEM Bought by Park Edge Advisors LLC

Park Edge Advisors LLC purchased a new position in shares of Newmont Corporation (NYSE:NEM) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 10,196 shares of the basic materials company’s stock, valued at approximately $1,104,000.

A number of other large investors have also bought and sold shares of the stock. Cardinal Point Capital Management ULC raised its holdings in Newmont by 1.5% during the 1st quarter. Cardinal Point Capital Management ULC now owns 142,570 shares of the basic materials company’s stock valued at $15,433,000 after buying an additional 2,080 shares during the last quarter. Ritholtz Wealth Management grew its holdings in Newmont by 21.7% in the 1st quarter. Ritholtz Wealth Management now owns 49,615 shares of the basic materials company’s stock worth $5,371,000 after acquiring an additional 8,861 shares during the last quarter. Tanager Wealth Management LLP increased its position in shares of Newmont by 6.0% in the first quarter. Tanager Wealth Management LLP now owns 2,514 shares of the basic materials company’s stock valued at $272,000 after acquiring an additional 143 shares during the period. Echo45 Advisors LLC bought a new position in shares of Newmont during the first quarter valued at about $203,000. Finally, Friedenthal Financial purchased a new stake in shares of Newmont during the first quarter worth about $1,072,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NEM shares. BMO Capital Markets reduced their price target on Newmont from $145.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday. Barclays began coverage on Newmont in a research report on Thursday, May 21st. They issued an “overweight” rating and a $133.00 price objective on the stock. TD Securities reissued a “hold” rating and set a $129.00 target price on shares of Newmont in a research note on Monday, April 27th. The Goldman Sachs Group dropped their price target on Newmont from $125.10 to $122.50 and set a “buy” rating for the company in a research note on Thursday, June 4th. Finally, BNP Paribas Exane reduced their price objective on shares of Newmont from $128.00 to $111.00 and set a “neutral” rating on the stock in a research report on Thursday, June 18th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and an average target price of $140.50.

Newmont Stock Performance

Shares of NEM opened at $93.75 on Thursday. 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 stock has a market cap of $100.08 billion, a P/E ratio of 12.16, a P/E/G ratio of 1.62 and a beta of 0.42. The business’s 50 day moving average price is $108.76 and its 200-day moving average price is $110.85. Newmont Corporation has a 52 week low of $55.37 and a 52 week high of $134.88.

Newmont (NYSE:NEM) last issued 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 firm had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company’s revenue was up 45.8% on a year-over-year basis. During the same period last year, the company earned $1.25 earnings per share. Equities research analysts anticipate that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Wednesday, May 27th were issued a $0.26 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 1.1%. Newmont’s dividend payout ratio (DPR) is currently 13.49%.

More Newmont News

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 Activity at Newmont

In related news, CEO Natascha Viljoen sold 3,882 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $408,852.24. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $315,960.00. Following the transaction, the executive vice president owned 46,315 shares in the company, valued at $4,877,895.80. This represents a 6.08% 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. Over the last ninety days, insiders have sold 28,556 shares of company stock worth $3,120,276. Company 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.