16,800 Shares in Newmont Corporation $NEM Bought by Oak Grove Capital LLC

Key Points

• Oak Grove Capital LLC opened a new position in Newmont, buying 16,800 shares worth about $1.68 million in the fourth quarter.
• Institutional interest remains strong, with institutions holding 68.85% of Newmont’s stock, while several other funds also added modestly to their positions.
• Analyst sentiment is broadly bullish: recent ratings include upgrades and higher price targets, and the stock currently carries a Moderate Buy consensus with an average target price of $140.98.

Oak Grove Capital LLC purchased a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 16,800 shares of the basic materials company's stock, valued at approximately $1,677,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Apella Capital LLC boosted its position in shares of Newmont by 4.1% during 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 in the last quarter. New Wave Wealth Advisors LLC raised its position in Newmont by 1.3% in the fourth 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 in the last quarter. Novem Group lifted its stake in Newmont by 3.7% during the fourth quarter. Novem Group now owns 2,487 shares of the basic materials company's stock worth $248,000 after purchasing an additional 88 shares during the period. Norden Group LLC lifted its stake in Newmont by 0.7% during the fourth quarter. Norden Group LLC now owns 12,367 shares of the basic materials company's stock worth $1,235,000 after purchasing an additional 90 shares during the period. Finally, Parkside Financial Bank & Trust boosted its holdings in Newmont by 1.4% during 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 in the last quarter. Institutional investors own 68.85% of the company's stock.

Insiders Place Their Bets

In other news, CEO Natascha Viljoen sold 3,882 shares of the 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 sale, the chief executive officer 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 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 Newmont stock in a transaction dated 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 directly owned 46,315 shares of the company's stock, valued at $4,877,895.80. This represents a 6.08% 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 sold a total of 28,556 shares of company stock worth $3,120,276 in the last three months. Company insiders own 0.06% of the company's stock.

Newmont News Roundup

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Several recent reports remain constructive on Newmont’s longer-term outlook, including coverage highlighting the company as a key name in gold mining and analyst commentary pointing to meaningful upside versus current levels. Why Newmont Remains a Key Name In Gold Mining?
• Positive Sentiment: Zacks Research upgraded Newmont from “hold” to “strong-buy,” while another Zacks piece said the stock could have about 30% upside based on Wall Street price targets, reinforcing bullish analyst sentiment. Does Newmont (NEM) Have the Potential to Rally 30.14% as Wall Street Analysts Expect?
• Neutral Sentiment: Newmont announced a management refresh, including new CFO, COO, and technical chief appointments effective July 1. This could support execution over time, but near-term investors may be waiting to see how the new team performs. Newmont (NEM) Appoints New CFO COO And Technical Chief Under Natascha Viljoen
• Negative Sentiment: BNP Paribas Exane cut its price target on Newmont from $128 to $111 and kept a “neutral” rating, which may be weighing on sentiment despite the target still sitting above the current share price. BNP Paribas Exane adjusts price target on Newmont to 111 from 128, maintains neutral rating
• Negative Sentiment: Recent trading commentary noted that Newmont fell even as the broader market moved higher, suggesting investors are taking profits or reacting cautiously after a strong run in the stock. Newmont Corporation (NEM) Stock Falls Amid Market Uptick: What Investors Need to Know

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NEM. Sanford C. Bernstein raised Newmont from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $121.00 to $157.00 in a report on Friday, February 27th. Jefferies Financial Group boosted their price target on Newmont from $154.00 to $158.00 and gave the company a "buy" rating in a research note on Monday, June 8th. Bank of America upped their price target on Newmont from $134.00 to $151.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. TD increased their price objective on Newmont from $116.00 to $129.00 and gave the stock a "hold" rating in a research note on Monday, April 27th. Finally, Argus lifted their price objective on Newmont from $94.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Newmont currently has an average rating of "Moderate Buy" and a consensus price target of $140.98.

Newmont Stock Performance

NYSE NEM opened at $103.86 on Friday. Newmont Corporation has a 1-year low of $55.37 and a 1-year high of $134.88. The company has a 50 day moving average of $110.31 and a 200-day moving average of $110.61. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The firm has a market cap of $110.88 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 1.75 and a beta of 0.42.

Newmont (NYSE:NEM - Get Free Report) last announced its 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 for the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.Newmont's revenue was up 45.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 EPS. On average, equities analysts forecast that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed 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 of this dividend is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. Newmont's payout ratio 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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