Asset One Wealth Management LLC Purchases New Holdings in Newmont Corporation $NEM

Asset One Wealth Management LLC acquired a new stake in Newmont Corporation (NYSE:NEM) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 23,896 shares of the basic materials company’s stock, valued at approximately $2,386,000.

A number of other hedge funds also recently bought and sold shares of NEM. GoalVest Advisory LLC acquired a new stake in Newmont in the 4th quarter valued at about $25,000. Swiss RE Ltd. acquired a new stake in Newmont in the 4th quarter valued at about $26,000. JPL Wealth Management LLC acquired a new stake in Newmont in the 3rd quarter valued at about $27,000. Cornerstone Planning Group LLC increased its holdings 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 worth $27,000 after buying an additional 206 shares during the last quarter. Finally, Lodestone Wealth Management LLC acquired a new stake in shares of Newmont during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Key Headlines Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Zacks upgraded Newmont from hold to strong-buy, reinforcing a more optimistic view on the stock’s near-term prospects.
• Positive Sentiment: Wall Street’s average price target implies about 30% upside, with analysts also pointing to rising earnings estimates as a supportive signal for the shares. Article: Does Newmont (NEM) Have the Potential to Rally 30.14% as Wall Street Analysts Expect?
• Positive Sentiment: Newmont announced a leadership reshuffle, naming new CFO, COO, and CTO appointments effective July 1, which investors may see as a move to sharpen execution under CEO Natascha Viljoen.
• Positive Sentiment: Several recent articles highlight Newmont as a value or buy idea and note that the company remains well positioned if gold prices rebound, which is supportive for a gold miner.
• Neutral Sentiment: Other coverage focused on comparison pieces and broad investor interest, but these are less likely to move the stock on their own.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NEM. Weiss Ratings downgraded shares of Newmont from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 27th. TD Securities restated a “hold” rating and set a $129.00 price target on shares of Newmont in a report on Monday, April 27th. BNP Paribas Exane raised their price target on shares of Newmont from $123.00 to $128.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. Sanford C. Bernstein upgraded shares of Newmont from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $121.00 to $157.00 in a report on Friday, February 27th. Finally, Wall Street Zen downgraded shares of Newmont from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $141.79.

Newmont Stock Down 2.7%

Newmont stock opened at $105.55 on Thursday. Newmont Corporation has a fifty-two week low of $55.37 and a fifty-two week high of $134.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The firm has a 50 day moving average price of $110.52 and a 200 day moving average price of $110.51. The company has a market capitalization of $112.68 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 1.80 and a beta of 0.42.

Newmont (NYSE:NEM) last posted its 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. 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 the consensus estimate of $6.83 billion. During the same quarter last year, the firm earned $1.25 EPS. The firm’s revenue for the quarter was up 45.8% on a year-over-year basis. Research analysts expect that Newmont Corporation will post 9.91 earnings per share for the current year.

Newmont Dividend Announcement

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

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’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 $315,960.00. Following the completion of the transaction, the executive vice president owned 46,315 shares in the company, valued at $4,877,895.80. The trade was a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 business’s 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 completion of 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 28,556 shares of company stock worth $3,120,276. 0.06% of the stock is currently owned by 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.