Candriam S.C.A. Has $18.20 Million Stock Holdings in Newmont Corporation $NEM

Key Points

• Candriam S.C.A. increased its stake in Newmont by 9.9% in the first quarter, adding 15,201 shares and bringing its total holding to 168,137 shares valued at about $18.2 million.
• Institutional ownership remains high, with hedge funds and other institutional investors holding 68.85% of Newmont’s stock, while several other funds also modestly raised their positions.
• Analysts remain broadly positive on Newmont: multiple firms reiterated Buy ratings, and the stock carries a consensus “Moderate Buy” rating with an average price target of $137.64, even as some price targets were trimmed.

Candriam S.C.A. boosted its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 9.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 168,137 shares of the basic materials company's stock after purchasing an additional 15,201 shares during the period. Candriam S.C.A.'s holdings in Newmont were worth $18,201,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Apella Capital LLC grew its stake 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 buying an additional 86 shares in the last quarter. New Wave Wealth Advisors LLC lifted its stake in Newmont by 1.3% in the fourth 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 last quarter. Novem Group lifted its stake in Newmont by 3.7% in the fourth 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 last quarter. Norden Group LLC grew its position in Newmont by 0.7% in the fourth quarter. Norden Group LLC now owns 12,367 shares of the basic materials company's stock worth $1,235,000 after acquiring an additional 90 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in shares of Newmont by 1.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company's stock worth $714,000 after purchasing an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

More Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont welcomed the Government of Canada’s CA$500 million funding commitment for the Red Chris Block Cave project, a move that improves the economics of a key copper-gold development and could extend the mine’s life. Newmont (NEM) Welcomes Canada Funding for Red Chris
• Positive Sentiment: UBS and Macquarie both reiterated Buy ratings on Newmont, while Bank of America also kept a Buy rating even after cutting its price target to $132, signaling analysts still see upside from current levels. UBS Keeps Their Buy Rating on Newmont Corporation CHESS (NEM)
• Positive Sentiment: Articles highlighting Newmont as undervalued and benefiting from a rebound in gold prices suggest investor interest is rising as the precious-metals trade improves. Newmont (NEM) Stock Looks Cheap On Earnings While Cash Flow Looks Fair
• Positive Sentiment: Recent trading has shown Newmont outperforming the broader market, with coverage citing renewed momentum in the stock and in gold-related names. Newmont Corporation (NEM) Outperforms Broader Market: What You Need to Know
• Neutral Sentiment: One valuation piece said Newmont looks close to fair value around the low-$90s, which may limit near-term enthusiasm even though it doesn’t signal a major downside concern. Newmont (NEM) Stock Looks Cheap On Earnings While Cash Flow Looks Fair
• Negative Sentiment: Despite the recent bounce, Newmont has still been under pressure over the past few months, and Bank of America’s price-target cut reflects some caution about the stock’s longer-term upside. Bank of America price target update on Newmont

Analyst Upgrades and Downgrades

NEM has been the subject of several analyst reports. Raymond James Financial reduced their price objective on shares of Newmont from $139.00 to $137.00 and set an "outperform" rating for the company in a research note on Tuesday, June 30th. National Bank Financial raised their target price on Newmont from $130.00 to $140.00 and gave the company a "sector perform" rating in a report on Friday, April 24th. Royal Bank Of Canada reduced their price target on Newmont from $140.00 to $135.00 and set an "outperform" rating for the company in a research report on Thursday. Canadian Imperial Bank of Commerce set a $175.00 price objective on Newmont and gave the company an "outperform" rating in a report on Monday, June 1st. Finally, TD Cowen reissued a "buy" rating on shares of Newmont in a research note on Monday, April 27th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $137.64.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $92.38, for a total value of $277,140.00. Following the completion of the sale, the executive vice president owned 43,315 shares in the company, valued at approximately $4,001,439.70. This trade represents a 6.48% decrease in their position. The transaction was disclosed in a legal 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, CEO Natascha Viljoen sold 3,882 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the completion of the transaction, 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. 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. Insiders sold a total of 28,556 shares of company stock worth $3,058,146 in the last three months. Company insiders own 0.06% of the company's stock.

Newmont Stock Performance

Shares of NYSE NEM traded up $0.49 during trading hours on Friday, reaching $95.30. The stock had a trading volume of 4,426,083 shares, compared to its average volume of 8,174,271. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The business's fifty day moving average is $104.35 and its two-hundred day moving average is $110.63. Newmont Corporation has a twelve month low of $55.37 and a twelve month high of $134.88. The company has a market cap of $101.74 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 1.07 and a beta of 0.46.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping analysts' consensus estimates of $2.07 by $0.83. The firm had revenue of $7.31 billion during the quarter, compared to analysts' expectations of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company's revenue for the quarter was up 45.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 earnings per share. As a group, research analysts expect that Newmont Corporation will post 9.32 EPS for the current year.

Newmont Dividend Announcement

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

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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