Newmont Corporation $NEM Stake Cut by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC lessened its holdings in Newmont Corporation (NYSE:NEM) by 10.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,190 shares of the basic materials company’s stock after selling 11,281 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Newmont were worth $10,846,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC lifted its position in shares of Newmont by 64.6% in the fourth quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock worth $20,259,000 after purchasing an additional 79,617 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in 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 valued at $30,775,000 after buying an additional 54,530 shares during the period. Leonteq Securities AG purchased a new stake in Newmont in the 4th quarter worth approximately $9,018,000. ARS Investment Partners LLC boosted its stake in shares of Newmont by 3.6% during the 4th quarter. ARS Investment Partners LLC now owns 697,063 shares of the basic materials company’s stock valued at $69,602,000 after buying an additional 23,900 shares during the period. Finally, Ritholtz Wealth Management boosted its stake in shares of Newmont by 67.0% during the 4th quarter. Ritholtz Wealth Management now owns 40,754 shares of the basic materials company’s stock valued at $4,069,000 after buying an additional 16,352 shares during the period. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

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 stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the transaction, the chief executive officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 43,315 shares of the company’s stock, valued at approximately $4,001,439.70. This trade represents a 6.48% decrease in their ownership of the stock. 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 quarter, insiders sold 28,556 shares of company stock worth $3,058,146. Insiders own 0.06% of the company’s stock.

Key Headlines Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont welcomed the Government of Canada’s CA$500 million funding commitment for the Red Chris Block Cave project, a move that improves the economics of a key copper-gold development and could extend the mine’s life. Newmont (NEM) Welcomes Canada Funding for Red Chris
• Positive Sentiment: UBS and Macquarie both reiterated Buy ratings on Newmont, while Bank of America also kept a Buy rating even after cutting its price target to $132, signaling analysts still see upside from current levels. UBS Keeps Their Buy Rating on Newmont Corporation CHESS (NEM)
• Positive Sentiment: Articles highlighting Newmont as undervalued and benefiting from a rebound in gold prices suggest investor interest is rising as the precious-metals trade improves. Newmont (NEM) Stock Looks Cheap On Earnings While Cash Flow Looks Fair
• Positive Sentiment: Recent trading has shown Newmont outperforming the broader market, with coverage citing renewed momentum in the stock and in gold-related names. Newmont Corporation (NEM) Outperforms Broader Market: What You Need to Know
• Neutral Sentiment: One valuation piece said Newmont looks close to fair value around the low-$90s, which may limit near-term enthusiasm even though it doesn’t signal a major downside concern. Newmont (NEM) Stock Looks Cheap On Earnings While Cash Flow Looks Fair
• Negative Sentiment: Despite the recent bounce, Newmont has still been under pressure over the past few months, and Bank of America’s price-target cut reflects some caution about the stock’s longer-term upside. Bank of America price target update on Newmont

Newmont Stock Up 0.5%

Shares of Newmont stock traded up $0.49 during midday trading on Friday, reaching $95.30. 4,426,083 shares of the company’s stock traded hands, compared to its average volume of 8,174,271. The company has a market cap of $101.74 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 1.07 and a beta of 0.46. The company’s 50 day simple moving average is $104.35 and its 200 day simple moving average is $110.63. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. 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 data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. The firm had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. Newmont’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 earnings per share. Equities analysts expect that Newmont Corporation will post 9.42 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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

Analyst Ratings Changes

NEM has been the topic of a number of research reports. The Goldman Sachs Group dropped their price target on shares of Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. Macquarie Infrastructure lowered their target price on Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, June 15th. Royal Bank Of Canada dropped their target price on Newmont from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday. TD raised their price target on Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a research note on Monday, April 27th. Finally, Zacks Research upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, June 15th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and an average price target of $137.64.

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.