Newmont Corporation $NEM Shares Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC boosted its stake in Newmont Corporation (NYSE:NEM) by 29.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 192,147 shares of the basic materials company’s stock after acquiring an additional 43,274 shares during the period. Wealthfront Advisers LLC’s holdings in Newmont were worth $20,800,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Apella Capital LLC raised its stake in shares of Newmont by 4.1% in the 4th quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock valued at $219,000 after acquiring an additional 86 shares during the period. New Wave Wealth Advisors LLC boosted its position in shares of Newmont by 1.3% during the 4th quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock worth $684,000 after purchasing an additional 88 shares during the period. Novem Group increased its holdings in Newmont by 3.7% in the 4th quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock valued at $248,000 after purchasing an additional 88 shares during the last quarter. Norden Group LLC increased its holdings in Newmont by 0.7% in the 4th quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock valued at $1,235,000 after purchasing an additional 90 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its position in Newmont by 1.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock valued at $714,000 after purchasing an additional 96 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling

In other news, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction dated Monday, June 1st. The stock was 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 owned 142,999 shares in the company, valued at approximately $15,060,654.68. This trade represents a 2.64% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $1,473,051.58. Following the transaction, the executive vice president directly owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. This represents a 16.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last 90 days, insiders sold 28,556 shares of company stock valued at $3,058,146. Company insiders own 0.06% of the company’s stock.

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Negative Sentiment: Zacks Research downgraded Newmont from “strong-buy” to “hold,” adding to near-term pressure on the stock. Newmont was downgraded by Zacks Research from “strong-buy” to “hold”.
• Negative Sentiment: Investors are also worried about the upcoming quarterly report, as coverage notes Newmont may not have the setup for an earnings beat even though EPS is expected to grow. Newmont Corporation (NEM) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Neutral Sentiment: Newmont resumed operations at its Cadia mine after a seismic event, and management said inspections found no injuries or damage. That removes an operational overhang, but the company still faces higher costs and softer gold prices. Newmont (NEM) Resumes Cadia Operations As It Pushes Ahead With Key Growth Projects
• Positive Sentiment: Several analysts remain constructive, with reports pointing to improved operational efficiency, growing free cash flow, and share buybacks as Newmont works through Newcrest integration. Did Analyst Upgrades and Buybacks Just Shift Newmont’s (NEM) Operational Efficiency Investment Narrative?
• Positive Sentiment: Some analysts also argued Newmont looks undervalued, citing permits that could unlock major copper-gold resources and support a production rebound. Newmont: The Permits That Set The Stage For A Re-Rating

Newmont Stock Performance

Shares of NEM stock opened at $90.83 on Friday. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 52 week low of $56.73 and a 52 week high of $134.88. The stock has a market capitalization of $96.96 billion, a PE ratio of 11.78, a P/E/G ratio of 1.08 and a beta of 0.46. The firm has a 50 day moving average of $102.85 and a two-hundred day moving average of $110.35.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.07 by $0.83. The business 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 company’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.25 earnings per share. On average, research analysts predict that Newmont Corporation will post 9.32 EPS for the current fiscal year.

Newmont Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently commented on NEM shares. TD upgraded Newmont from a “hold” rating to a “buy” rating and lowered their price target for the stock from $129.00 to $127.00 in a research report on Tuesday. Citigroup reiterated a “positive” rating on shares of Newmont in a report on Wednesday. Canaccord Genuity Group increased their target price on Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Canadian Imperial Bank of Commerce set a $175.00 target price on Newmont and gave the company an “outperform” rating in a report on Monday, June 1st. Finally, Argus lifted their target price on Newmont from $94.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.26.

Newmont Company Profile

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.