13,500 Shares in Newmont Corporation $NEM Purchased by Polianta Ltd

Key Points

• Polianta Ltd opened a new position in Newmont, buying 13,500 shares in the first quarter worth about $1.46 million.
• Institutional interest in Newmont remains strong, with 68.85% of the stock owned by institutional investors and several large funds recently increasing or initiating positions.
• Newmont has a mixed near-term backdrop: analysts currently rate the stock a Moderate Buy with an average price target of about $140.98, while the company also reported strong quarterly earnings and declared a $0.26 quarterly dividend.

Polianta Ltd purchased a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,500 shares of the basic materials company's stock, valued at approximately $1,461,000.

Several other large investors also recently modified their holdings of NEM. Norges Bank acquired a new stake in shares of Newmont in the 4th quarter valued at $1,443,128,000. Van ECK Associates Corp increased its position in shares of Newmont by 23.4% during the 4th quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company's stock worth $2,973,539,000 after purchasing an additional 5,643,496 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Newmont by 110.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,743,228 shares of the basic materials company's stock worth $873,011,000 after purchasing an additional 4,588,018 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Newmont by 82.5% during the 4th quarter. AQR Capital Management LLC now owns 7,402,278 shares of the basic materials company's stock valued at $739,117,000 after purchasing an additional 3,345,543 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in Newmont by 398.3% during the 4th quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company's stock valued at $286,619,000 after purchasing an additional 2,294,396 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Trending Headlines about Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont received major regulatory approvals from British Columbia for its Red Chris Block Cave project, a key milestone that supports a transition from open-pit mining to block caving and extends the mine life into the mid-2040s. The approval improves visibility on future production and could support the stock by advancing Newmont toward a final investment decision later this year. Article Title
• Positive Sentiment: Newmont continues to be viewed as a core name in gold mining, and broader strength in gold/mining shares may be helping sentiment around the stock. This can provide support even when company-specific news is limited. Article Title
• Neutral Sentiment: BNP Paribas Exane lowered its price target on Newmont to $111 from $128 while keeping a neutral rating. That is still above the current share price, but the cut may temper near-term enthusiasm. Article Title
• Negative Sentiment: Reports say Newmont’s Cadia mine was halted after an earthquake, raising concerns about temporary production disruption. Any prolonged shutdown could weigh on output and sentiment until Newmont clarifies the impact. Article Title

Analysts Set New Price Targets

NEM has been the topic of a number of recent analyst reports. Weiss Ratings lowered shares of Newmont from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday. Royal Bank Of Canada dropped their price objective on shares of Newmont from $160.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, June 3rd. UBS Group cut their target price on shares of Newmont from $150.00 to $140.00 and set a "buy" rating for the company in a research note on Friday, March 27th. BMO Capital Markets boosted their target price on Newmont from $140.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Finally, Barclays started coverage on Newmont in a research report on Thursday, May 21st. They set an "overweight" rating and a $133.00 price target on the stock. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $140.98.

Insider Activity at Newmont

In related news, CEO Natascha Viljoen sold 3,882 shares of the business'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 completion of the transaction, the chief executive officer owned 142,999 shares in the company, valued at $15,060,654.68. The trade was a 2.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the company's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $252,812.56. Following the transaction, the insider directly owned 23,163 shares in the company, valued at approximately $2,550,477.93. This represents a 9.02% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 28,556 shares of company stock worth $3,120,276. 0.06% of the stock is currently owned by company insiders.

Newmont Stock Up 0.1%

Shares of NYSE NEM opened at $103.86 on Friday. Newmont Corporation has a 12-month low of $55.37 and a 12-month high of $134.88. The firm's 50-day simple moving average is $110.02 and its 200 day simple moving average is $110.56. 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 company has a market cap of $110.88 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 1.72 and a beta of 0.42.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $6.83 billion. During the same quarter last year, the company posted $1.25 EPS. The company's quarterly revenue was up 45.8% compared to the same quarter last year. On average, research analysts expect that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. Newmont's dividend payout ratio (DPR) is currently 13.49%.

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.

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