Asset One Wealth Management LLC Makes New Investment in Newmont Corporation $NEM

Key Points

• Asset One Wealth Management opened a new position in Newmont during the fourth quarter, buying 23,896 shares worth about $2.39 million.
• Analyst sentiment remains broadly positive: several firms reiterated or raised buy ratings, and MarketBeat says Newmont carries a Moderate Buy consensus with an average price target of $141.79.
• Newmont reported strong quarterly results, beating EPS and revenue estimates, and it also declared a quarterly dividend of $0.26 per share payable June 22.

Asset One Wealth Management LLC purchased a new position in Newmont Corporation (NYSE:NEM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 23,896 shares of the basic materials company's stock, valued at approximately $2,386,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Apella Capital LLC increased its position in shares of Newmont by 4.1% in 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 during the period. New Wave Wealth Advisors LLC increased its position in shares of Newmont by 1.3% in the 4th quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company's stock valued at $684,000 after acquiring an additional 88 shares during the period. Novem Group increased its position in shares of Newmont by 3.7% in the 4th quarter. Novem Group now owns 2,487 shares of the basic materials company's stock valued at $248,000 after acquiring an additional 88 shares during the period. Norden Group LLC increased its position in shares of Newmont by 0.7% in the 4th quarter. Norden Group LLC now owns 12,367 shares of the basic materials company's stock valued at $1,235,000 after acquiring an additional 90 shares during the period. Finally, Parkside Financial Bank & Trust increased its position in shares of Newmont by 1.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company's stock valued at $714,000 after acquiring an additional 96 shares during the period. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NEM has been the topic of several research reports. The Goldman Sachs Group cut their target price on Newmont from $125.10 to $122.50 and set a "buy" rating on the stock in a research report on Thursday, June 4th. UBS Group cut their target price on Newmont from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Friday, March 27th. TD Securities reaffirmed a "hold" rating and set a $129.00 price target on shares of Newmont in a research report on Monday, April 27th. Canaccord Genuity Group increased their price target on Newmont from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings downgraded Newmont from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, May 27th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $141.79.

Insider Activity at Newmont

In related news, EVP Peter Wexler sold 13,378 shares of the firm's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $1,473,051.58. Following the transaction, the executive vice president directly owned 67,865 shares of the company's stock, valued at approximately $7,472,615.15. This trade represents a 16.47% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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, insider David John Thornton sold 2,296 shares of the firm's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $252,812.56. Following the completion of the transaction, the insider directly owned 23,163 shares in the company, valued at $2,550,477.93. This represents a 9.02% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 28,556 shares of company stock valued at $3,120,276. 0.06% of the stock is owned by corporate insiders.

Trending Headlines about Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Zacks upgraded Newmont from hold to strong-buy, reinforcing a more optimistic view on the stock’s near-term prospects.
• Positive Sentiment: Wall Street’s average price target implies about 30% upside, with analysts also pointing to rising earnings estimates as a supportive signal for the shares. Article: Does Newmont (NEM) Have the Potential to Rally 30.14% as Wall Street Analysts Expect?
• Positive Sentiment: Newmont announced a leadership reshuffle, naming new CFO, COO, and CTO appointments effective July 1, which investors may see as a move to sharpen execution under CEO Natascha Viljoen.
• Positive Sentiment: Several recent articles highlight Newmont as a value or buy idea and note that the company remains well positioned if gold prices rebound, which is supportive for a gold miner.
• Neutral Sentiment: Other coverage focused on comparison pieces and broad investor interest, but these are less likely to move the stock on their own.

Newmont Trading Down 2.7%

NEM stock opened at $105.55 on Thursday. The company's 50-day simple moving average is $110.52 and its 200-day simple moving average is $110.51. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 52-week low of $55.37 and a 52-week high of $134.88. The firm has a market cap of $112.68 billion, a P/E ratio of 13.69, a PEG ratio of 1.80 and a beta of 0.42.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping 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 business had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same period in the prior year, the company posted $1.25 EPS. The company's revenue for the quarter was up 45.8% on a year-over-year basis. As a group, equities analysts forecast that Newmont Corporation will post 9.91 EPS 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 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 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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