Caitong International Asset Management Co. Ltd Acquires New Shares in Newmont Corporation $NEM

Key Points

• Caitong International Asset Management opened a new position in Newmont, buying 20,819 shares valued at about $2.08 million in the fourth quarter.
• Newmont’s latest earnings beat expectations, reporting $2.90 EPS on $7.31 billion in revenue, both above analyst forecasts. Revenue rose 45.8% year over year.
• The company announced a quarterly dividend of $0.26 per share, payable June 22, while analysts remain broadly positive with a Moderate Buy consensus and a price target of about $140.98.

Caitong International Asset Management Co. Ltd acquired a new position in Newmont Corporation (NYSE:NEM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 20,819 shares of the basic materials company's stock, valued at approximately $2,079,000.

A number of other institutional investors also recently bought and sold shares of the company. GoalVest Advisory LLC purchased a new stake in Newmont in the 4th quarter worth $25,000. Swiss RE Ltd. purchased a new position in Newmont in the 4th quarter worth approximately $26,000. Cornerstone Planning Group LLC boosted its position in shares of Newmont by 312.1% during the fourth 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 during the last quarter. JPL Wealth Management LLC bought a new position in shares of Newmont during the 3rd quarter valued at about $27,000. Finally, Lodestone Wealth Management LLC bought a new position in Newmont during the fourth quarter valued at approximately $28,000. Institutional investors own 68.85% of the company's stock.

Newmont Price Performance

NYSE:NEM opened at $103.86 on Friday. Newmont Corporation has a 52 week low of $55.37 and a 52 week high of $134.88. The stock's fifty day moving average is $110.02 and its two-hundred day moving average is $110.56. The company has a market capitalization 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. 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 (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, beating 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 period last year, the business posted $1.25 EPS. Newmont's revenue for the quarter was up 45.8% on a year-over-year basis. Equities analysts expect that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be given a dividend of $0.26 per share. The ex-dividend date 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 is presently 13.49%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Argus raised their price target on Newmont from $94.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. BNP Paribas Exane reduced their price target on shares of Newmont from $128.00 to $111.00 and set a "neutral" rating for the company in a report on Thursday. Barclays started coverage on shares of Newmont in a research report on Thursday, May 21st. They issued an "overweight" rating and a $133.00 price objective on the stock. Wall Street Zen downgraded shares of Newmont from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 30th. Finally, UBS Group decreased their price objective on shares of Newmont from $150.00 to $140.00 and set a "buy" rating for the company in a research note on Friday, March 27th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $140.98.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction 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 trade represents a 6.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 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 $252,812.56. Following the completion of the transaction, the insider directly owned 23,163 shares of the company's stock, valued at approximately $2,550,477.93. This trade 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. Insiders have sold a total of 28,556 shares of company stock worth $3,120,276 over the last quarter. Insiders own 0.06% of the company's stock.

Key Newmont News

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 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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