Aware Super Pty Ltd as trustee of Aware Super Takes Position in Newmont Corporation $NEM

Key Points

• Aware Super disclosed a new first-quarter position in Newmont, buying 338,155 shares valued at about $36.6 million.
• Newmont’s recent earnings came in above expectations, with EPS of $2.90 versus the $2.07 estimate and revenue of $7.31 billion, up 45.8% year over year.
• Despite the strong quarter, sentiment is mixed: Zacks downgraded the stock to “hold,” and the shares were down 4.6% in the latest update as investors weigh near-term execution risks and softer gold prices.

Aware Super Pty Ltd as trustee of Aware Super bought a new position in Newmont Corporation (NYSE:NEM - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 338,155 shares of the basic materials company's stock, valued at approximately $36,605,000.

Several other institutional investors have also recently made changes to their positions in NEM. GoalVest Advisory LLC bought a new stake in shares of Newmont during the 4th quarter worth approximately $25,000. Pinnacle Bancorp Inc. bought a new stake in Newmont during the 1st quarter valued at about $25,000. Cedar Mountain Advisors LLC purchased a new stake in Newmont in the 1st quarter valued at about $25,000. Swiss RE Ltd. purchased a new stake in Newmont in the 4th quarter valued at about $26,000. Finally, Cornerstone Planning Group LLC grew its stake in Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock worth $27,000 after acquiring an additional 206 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

More Newmont News

Here are the key news stories impacting Newmont this week:

• Negative Sentiment: Zacks Research downgraded Newmont from “strong-buy” to “hold,” adding to near-term pressure on the stock. Newmont was downgraded by Zacks Research from "strong-buy" to "hold".
• Negative Sentiment: Investors are also worried about the upcoming quarterly report, as coverage notes Newmont may not have the setup for an earnings beat even though EPS is expected to grow. Newmont Corporation (NEM) Earnings Expected to Grow: What to Know Ahead of Next Week's Release
• Neutral Sentiment: Newmont resumed operations at its Cadia mine after a seismic event, and management said inspections found no injuries or damage. That removes an operational overhang, but the company still faces higher costs and softer gold prices. Newmont (NEM) Resumes Cadia Operations As It Pushes Ahead With Key Growth Projects
• Positive Sentiment: Several analysts remain constructive, with reports pointing to improved operational efficiency, growing free cash flow, and share buybacks as Newmont works through Newcrest integration. Did Analyst Upgrades and Buybacks Just Shift Newmont's (NEM) Operational Efficiency Investment Narrative?
• Positive Sentiment: Some analysts also argued Newmont looks undervalued, citing permits that could unlock major copper-gold resources and support a production rebound. Newmont: The Permits That Set The Stage For A Re-Rating

Newmont Stock Down 4.6%

Shares of NYSE NEM opened at $90.83 on Friday. 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 stock has a market capitalization of $96.96 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 1.08 and a beta of 0.46. The stock's fifty day simple moving average is $102.85 and its two-hundred day simple moving average is $110.35. Newmont Corporation has a 12-month low of $56.73 and a 12-month high of $134.88.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly 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 firm had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business's revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.25 EPS. As a group, analysts expect that Newmont Corporation will post 9.32 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.1%. The ex-dividend date was Wednesday, May 27th. Newmont's payout ratio is 13.49%.

Insider Activity

In other Newmont news, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $408,852.24. Following the completion of the sale, the chief executive officer directly owned 142,999 shares of the company's stock, valued at approximately $15,060,654.68. This represents a 2.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 sale, the insider 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 disclosure for this sale is available in the SEC filing. 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 three months, insiders have sold 28,556 shares of company stock valued at $3,058,146. Company insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of research reports. UBS Group reduced their target price on shares of Newmont from $140.00 to $120.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Macquarie Infrastructure reduced their price objective on Newmont from $133.00 to $123.00 and set an "outperform" rating on the stock in a report on Monday, June 15th. Scotiabank decreased their target price on Newmont from $151.00 to $147.00 and set a "sector outperform" rating for the company in a research report on Tuesday. Bank of America lowered their target price on Newmont from $157.00 to $132.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Finally, The Goldman Sachs Group dropped their price target on Newmont from $122.50 to $111.40 and set a "buy" rating on the stock in a research report on Wednesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $136.26.

Newmont 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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