Capitolis Liquid Global Markets LLC Purchases 247,059 Shares of Newmont Corporation $NEM

Key Points

• Capitolis Liquid Global Markets LLC sharply increased its Newmont stake by 672.1% in the fourth quarter, buying 247,059 additional shares and lifting its position to 283,818 shares valued at about $28.3 million.
• Wall Street sentiment around Newmont is generally positive: Zacks upgraded the stock to strong-buy, and the consensus price target of $141.79 implies roughly 30% upside from current levels.
• Newmont reported strong quarterly results, with earnings of $2.90 per share and revenue of $7.31 billion, both beating estimates; the company also declared a quarterly dividend of $0.26 per share.

Capitolis Liquid Global Markets LLC boosted its stake in Newmont Corporation (NYSE:NEM - Free Report) by 672.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 283,818 shares of the basic materials company's stock after acquiring an additional 247,059 shares during the period. Capitolis Liquid Global Markets LLC's holdings in Newmont were worth $28,339,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Claro Advisors Inc. bought a new stake in Newmont in the fourth quarter worth about $324,000. Asset One Wealth Management LLC bought a new stake in Newmont in the fourth quarter worth about $2,386,000. Integrated Advisors Network LLC raised its position in Newmont by 23.4% in the fourth quarter. Integrated Advisors Network LLC now owns 3,765 shares of the basic materials company's stock worth $376,000 after acquiring an additional 715 shares during the period. AQR Capital Management LLC raised its position in Newmont by 82.5% in the fourth quarter. AQR Capital Management LLC now owns 7,402,278 shares of the basic materials company's stock worth $739,117,000 after acquiring an additional 3,345,543 shares during the period. Finally, Abel Hall LLC bought a new stake in Newmont in the fourth quarter worth about $423,000. 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: 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.

Wall Street Analyst Weigh In

Several brokerages have commented on NEM. Sanford C. Bernstein raised shares of Newmont from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $121.00 to $157.00 in a research report on Friday, February 27th. BNP Paribas Exane lifted their price objective on shares of Newmont from $123.00 to $128.00 and gave the stock a "neutral" rating in a research report on Monday, March 2nd. Zacks Research raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a research report on Monday. Macquarie Infrastructure reduced their target price on shares of Newmont from $133.00 to $123.00 and set an "outperform" rating for the company in a research note on Monday. Finally, National Bank Financial lifted their target price on shares of Newmont from $130.00 to $140.00 and gave the stock a "sector perform" rating in a research note on Friday, April 24th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $141.79.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on 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 owned 46,315 shares of the company's stock, valued at approximately $4,877,895.80. The trade was a 6.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $252,812.56. Following the transaction, the insider directly owned 23,163 shares of the company's stock, valued at approximately $2,550,477.93. This represents a 9.02% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 28,556 shares of company stock worth $3,120,276 in the last three months. Insiders own 0.06% of the company's stock.

Newmont Price Performance

NEM opened at $105.55 on Thursday. The company has a market capitalization of $112.68 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 1.80 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. The firm has a 50-day moving average price of $110.52 and a 200-day moving average price of $110.51. Newmont Corporation has a twelve month low of $55.37 and a twelve month high of $134.88.

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 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 the consensus estimate of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company's revenue was up 45.8% on a year-over-year basis. During the same quarter last year, the company earned $1.25 earnings per share. Equities analysts expect that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 1.0%. Newmont's payout ratio is currently 13.49%.

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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