AEGON ASSET MANAGEMENT UK Plc Has $26.68 Million Stake in Newmont Corporation $NEM

Key Points

• AEGON Asset Management UK cut its Newmont stake by 48.2% in the first quarter, leaving it with 246,518 shares valued at about $26.68 million.
• Newmont continues to attract heavy institutional interest overall, with 68.85% of shares held by institutional investors. Several large funds increased positions significantly, including Norges Bank, Van ECK, and Arrowstreet Capital.
• Analysts remain generally constructive on the stock, with Newmont carrying a Moderate Buy consensus and an average price target of $140.98. The company also beat quarterly earnings and revenue expectations and recently declared a $0.26 quarterly dividend.

AEGON ASSET MANAGEMENT UK Plc reduced its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 48.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 246,518 shares of the basic materials company's stock after selling 229,088 shares during the period. AEGON ASSET MANAGEMENT UK Plc's holdings in Newmont were worth $26,678,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in Newmont in the fourth quarter valued at approximately $1,443,128,000. Van ECK Associates Corp raised its stake 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 raised its stake 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 boosted its holdings in shares of Newmont by 82.5% in 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 buying an additional 3,345,543 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings in shares of Newmont by 398.3% in the 4th quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company's stock valued at $286,619,000 after buying an additional 2,294,396 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Transactions at Newmont

In related news, EVP Peter Wexler sold 13,378 shares of the business'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 $1,473,051.58. Following the completion of the sale, the executive vice president directly owned 67,865 shares in the company, valued at $7,472,615.15. The trade was a 16.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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. Also, EVP Peter Toth sold 3,000 shares of the company'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 directly owned 46,315 shares in the company, valued at approximately $4,877,895.80. This represents a 6.08% 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. Over the last quarter, insiders have sold 28,556 shares of company stock valued at $3,120,276. Company insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NEM shares. Sanford C. Bernstein upgraded shares of Newmont from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $121.00 to $157.00 in a report on Friday, February 27th. Argus increased their price target on shares of Newmont from $94.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. National Bank Financial lifted their price objective on shares of Newmont from $130.00 to $140.00 and gave the company a "sector perform" rating in a research report on Friday, April 24th. UBS Group lowered their price objective on shares of Newmont from $150.00 to $140.00 and set a "buy" rating on the stock in a research note on Friday, March 27th. Finally, Macquarie Infrastructure dropped their target price on shares of Newmont from $133.00 to $123.00 and set an "outperform" rating on the stock in a report on Monday, June 15th. 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 company. Based on data from MarketBeat, Newmont presently has a consensus rating of "Moderate Buy" and an average target price of $140.98.

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

Newmont Stock Up 0.1%

Newmont stock opened at $103.86 on Friday. The company's 50-day moving average price is $110.02 and its two-hundred day moving average price 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 stock has a market cap of $110.88 billion, a P/E ratio of 13.47, a P/E/G ratio of 1.72 and a beta of 0.42. Newmont Corporation has a twelve month low of $55.37 and a twelve month high of $134.88.

Newmont (NYSE:NEM - Get Free Report) 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. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company had revenue of $7.31 billion during the quarter, compared to analysts' expectations of $6.83 billion. During the same quarter in the previous year, the company posted $1.25 earnings per share. The business's revenue was up 45.8% on a year-over-year basis. As a group, analysts expect that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Announces Dividend

The company 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 dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont's dividend payout ratio (DPR) is presently 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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