Arizona State Retirement System Sells 33,755 Shares of Newmont Corporation $NEM

Key Points

• Arizona State Retirement System trimmed its Newmont stake by 9.9%, selling 33,755 shares and leaving it with 307,282 shares valued at about $30.68 million.
• Strong Q1 fundamentals: Newmont beat estimates (adjusted EPS $2.90 vs. $2.07; revenue $7.31B), posted record quarterly free cash flow (~$3.1B), boosted buybacks and declared a $0.26 quarterly dividend, prompting several analyst price-target raises and a consensus "Moderate Buy" (~$139.81).
• Offsetting risks include a Ghana directive to shift mining operations to local firms, macro headwinds for gold, some analyst caution, and insider selling of about 24,394 shares (~$2.7M) over the last quarter.

Arizona State Retirement System lowered its position in Newmont Corporation (NYSE:NEM - Free Report) by 9.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 307,282 shares of the basic materials company's stock after selling 33,755 shares during the period. Arizona State Retirement System's holdings in Newmont were worth $30,682,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in shares of Newmont by 15.7% during the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock valued at $506,000 after purchasing an additional 1,847 shares in the last quarter. Woodline Partners LP increased its stake in shares of Newmont by 40.7% during the first quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company's stock valued at $4,644,000 after purchasing an additional 27,813 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Newmont during the second quarter valued at approximately $240,000. Cerity Partners LLC increased its stake in shares of Newmont by 108.9% during the second quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company's stock valued at $7,303,000 after purchasing an additional 65,342 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of Newmont by 8.5% during the second quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company's stock valued at $2,854,000 after purchasing an additional 3,856 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Key Headlines Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Q1 beat — Newmont reported adjusted EPS of $2.90 vs. ~$2.07 consensus and revenue $7.31B (above estimates); management said production ~1.3M attributable gold ounces. This strong beat is the main fundamental driver supporting the stock. Newmont Tops Q1 Earnings and Revenue Estimates
• Positive Sentiment: Record cash flow and buyback — Newmont reported an all-time record quarterly free cash flow (~$3.1B) and increased its share repurchase authorization, a clear shareholder-friendly move likely to support the share price. Newmont Generates Record Quarterly Earnings and Free Cash Flow
• Positive Sentiment: Dividend declared — the company declared a quarterly dividend of about $0.261 per share, which supports income-oriented investors and signals confidence in cash generation. Dividend Announcement
• Positive Sentiment: Analyst upgrades on valuation — BMO raised its price target to $140 (maintained Outperform) and Argus raised its target to $125 (Buy), reflecting bullish views on cash flow and the company’s asset mix. BMO Price Target Raise
• Neutral Sentiment: SEC filings & investor call — Newmont filed its Q1 report with the U.S. SEC and scheduled an investor call, standard disclosures that provide more details for investors but are procedural. SEC Filing & Investor Call
• Neutral Sentiment: Valuation discussion — coverage pieces note Newmont’s recent earnings streak, Newcrest deal implications and strong momentum; useful context but not immediate catalysts. Valuation Assessment
• Negative Sentiment: Regulatory risk in Ghana — Reuters reports Ghana directed Newmont and peers to shift mining operations to local firms by December, raising operational and political risk for West Africa assets. This kind of local content/order risk can hit investor sentiment. Ghana Directive
• Negative Sentiment: Analyst caution — some firms (TD/TD Cowen) have issued more pessimistic forecasts or lowered expectations, which can cap near-term upside despite the beat. Analyst Pessimistic Forecasts
• Negative Sentiment: Macroeconomic headwinds for gold — a firmer U.S. dollar and mixed safe-haven flows are pressuring gold-sector sentiment, which can mute gains in gold equities even after company-specific beats. Gold Market Headwinds

Insider Activity

In other news, insider David James Fry sold 18,394 shares of Newmont stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the completion of the sale, the insider directly owned 17,147 shares in the company, valued at $1,911,033.15. The trade was a 51.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $113.09, for a total transaction of $339,270.00. Following the completion of the sale, the executive vice president owned 52,315 shares of the company's stock, valued at $5,916,303.35. This represents a 5.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 24,394 shares of company stock valued at $2,713,281 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of analyst reports. BMO Capital Markets raised their target price on shares of Newmont from $115.00 to $140.00 and gave the company an "outperform" rating in a research note on Wednesday. Bank of America raised their target price on shares of Newmont from $134.00 to $151.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. Raymond James Financial raised their target price on shares of Newmont from $111.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, January 15th. TD Securities decreased their target price on shares of Newmont from $120.00 to $118.00 and set a "hold" rating for the company in a research note on Tuesday, March 3rd. Finally, DZ Bank raised shares of Newmont to a "strong-buy" rating in a research note on Monday, January 19th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $139.81.

Newmont Stock Down 0.8%

NYSE:NEM opened at $111.00 on Friday. The firm has a market cap of $119.87 billion, a P/E ratio of 17.37, a P/E/G ratio of 0.85 and a beta of 0.46. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.02 and a current ratio of 2.29. Newmont Corporation has a fifty-two week low of $48.27 and a fifty-two week high of $134.88. The firm has a 50-day simple moving average of $114.75 and a two-hundred day simple moving average of $104.44.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating analysts' consensus estimates of $2.07 by $0.83. The business had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. Newmont had a net margin of 31.25% and a return on equity of 23.28%. Newmont's revenue was up 45.8% compared to the same quarter last year. During the same period last year, the business earned $1.25 EPS. Analysts predict that Newmont Corporation will post 8.92 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. Investors of record on Wednesday, May 27th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date is Wednesday, May 27th. Newmont's dividend payout ratio (DPR) is presently 16.28%.

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.

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