O Domhnaill Enterprises Inc. Sells 6,686 Shares of Newmont Corporation $NEM

O Domhnaill Enterprises Inc. trimmed its position in shares of Newmont Corporation (NYSE:NEM) by 14.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,352 shares of the basic materials company’s stock after selling 6,686 shares during the period. Newmont accounts for approximately 3.3% of O Domhnaill Enterprises Inc.’s investment portfolio, making the stock its 9th biggest position. O Domhnaill Enterprises Inc.’s holdings in Newmont were worth $4,152,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. CWM LLC boosted its position in Newmont by 64.6% during the fourth quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock valued at $20,259,000 after acquiring an additional 79,617 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Newmont by 24.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock worth $30,775,000 after purchasing an additional 54,530 shares in the last quarter. Leonteq Securities AG bought a new stake in shares of Newmont during the fourth quarter worth about $9,018,000. ARS Investment Partners LLC lifted its holdings in shares of Newmont by 3.6% in the fourth quarter. ARS Investment Partners LLC now owns 697,063 shares of the basic materials company’s stock valued at $69,602,000 after purchasing an additional 23,900 shares in the last quarter. Finally, Ritholtz Wealth Management increased its stake in shares of Newmont by 67.0% in the fourth quarter. Ritholtz Wealth Management now owns 40,754 shares of the basic materials company’s stock worth $4,069,000 after buying an additional 16,352 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont News Summary

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Jefferies kept a Buy rating on Newmont even after cutting its price target from $158 to $146, which still implies meaningful upside from the current share price and supports the stock. Benzinga source
• Positive Sentiment: Recent commentary highlighted the possibility that higher gold prices could lift Newmont further, reinforcing sentiment around the company’s earnings leverage to bullion prices. Article title
• Positive Sentiment: Market recaps noted that Newmont outperformed the broader market in the latest session, reflecting continued investor interest in the gold miner. Article title
• Neutral Sentiment: Newmont’s accounting chief disclosed initial beneficial ownership, a routine corporate filing that does not by itself indicate a major change in fundamentals. Article title
• Negative Sentiment: EVP Peter Toth sold 3,000 shares under a pre-arranged trading plan, which can still weigh on sentiment because insider selling is often viewed cautiously by investors. Insider trade source
• Negative Sentiment: Jefferies lowered its price target on Newmont, which may signal slightly more tempered expectations even though the firm remains constructive on the stock. The Fly source

Newmont Trading Down 3.2%

NYSE:NEM traded down $3.16 on Tuesday, reaching $95.04. 2,029,117 shares of the company’s stock were exchanged, compared to its average volume of 9,361,022. 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 firm has a market capitalization of $101.46 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.61 and a beta of 0.46. The business has a fifty day moving average of $106.12 and a 200-day moving average of $110.86. 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, topping analysts’ consensus estimates of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The firm had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter in the prior year, the business earned $1.25 EPS. Newmont’s quarterly revenue was up 45.8% compared to the same quarter last year. As a group, analysts expect that Newmont Corporation will post 9.87 earnings per share for the current year.

Newmont Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. BNP Paribas Exane lowered their price target on shares of Newmont from $128.00 to $111.00 and set a “neutral” rating for the company in a research report on Thursday, June 18th. TD Securities restated a “hold” rating and issued a $129.00 price target on shares of Newmont in a research note on Monday, April 27th. Argus boosted their price objective on Newmont from $94.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Jefferies Financial Group cut their target price on shares of Newmont from $158.00 to $146.00 and set a “buy” rating for the company in a research note on Monday. Finally, Scotiabank dropped their price objective on shares of Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a research note on Friday, March 20th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Newmont has an average rating of “Moderate Buy” and an average price target of $138.78.

Insider Buying and Selling

In other news, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 142,999 shares in the company, valued at approximately $15,060,654.68. This represents a 2.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $92.38, for a total value of $277,140.00. Following the transaction, the executive vice president owned 43,315 shares in the company, valued at $4,001,439.70. This trade represents a 6.48% 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 have sold a total of 28,556 shares of company stock worth $3,058,146 in the last ninety days. 0.06% of the stock is owned by corporate insiders.

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.