Diversified Trust Co Sells 9,882 Shares of Newmont Corporation $NEM

Key Points

• Diversified Trust Co cut its Newmont stake by 34% in the first quarter, selling 9,882 shares and leaving it with 19,149 shares valued at about $2.07 million.
• Newmont reported strong quarterly results, with EPS of $2.90 versus the $2.07 estimate and revenue of $7.31 billion, up 45.8% from a year earlier.
• The company recently declared a quarterly dividend of $0.26 per share, and analyst sentiment remains mostly positive with a consensus rating of Moderate Buy and an average price target of $140.98.

Diversified Trust Co lowered its stake in Newmont Corporation (NYSE:NEM - Free Report) by 34.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,149 shares of the basic materials company's stock after selling 9,882 shares during the quarter. Diversified Trust Co's holdings in Newmont were worth $2,073,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in NEM. GoalVest Advisory LLC bought a new position in Newmont during the fourth quarter worth about $25,000. Swiss RE Ltd. acquired a new position in shares of Newmont during the 4th quarter worth about $26,000. Cornerstone Planning Group LLC increased its stake in shares of Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock valued at $27,000 after acquiring an additional 206 shares during the last quarter. Lodestone Wealth Management LLC bought a new stake in shares of Newmont in the 4th quarter valued at about $28,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of Newmont in the 4th quarter valued at approximately $30,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Stock Performance

Shares of Newmont stock opened at $103.86 on Monday. The firm has a market cap of $110.88 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 1.72 and a beta of 0.42. The stock's 50-day moving average is $110.02 and its 200-day moving average is $110.69. Newmont Corporation has a one year low of $55.37 and a one year high of $134.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter last year, the firm earned $1.25 earnings per share. The firm's revenue for the quarter was up 45.8% compared to the same quarter last year. Equities analysts predict that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Announces Dividend

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

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the business'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 transaction, the executive vice president directly owned 46,315 shares in the company, valued at $4,877,895.80. The trade was a 6.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of the company'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 $1,473,051.58. Following the completion of the sale, the executive vice president directly owned 67,865 shares in the company, valued at approximately $7,472,615.15. The trade was a 16.47% 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 28,556 shares of company stock valued at $3,120,276 over the last quarter. 0.06% of the stock is currently owned by company insiders.

Newmont News Roundup

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

Analysts Set New Price Targets

Several research firms recently weighed in 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 note on Friday, February 27th. TD Cowen reaffirmed a "buy" rating on shares of Newmont in a research note on Monday, April 27th. BNP Paribas Exane cut their target price on shares of Newmont from $128.00 to $111.00 and set a "neutral" rating on the stock in a report on Thursday. National Bank Financial lifted their price target on shares of Newmont from $130.00 to $140.00 and gave the stock a "sector perform" rating in a research report on Friday, April 24th. Finally, Barclays initiated coverage on shares of Newmont in a report on Thursday, May 21st. They issued an "overweight" rating and a $133.00 price target for the company. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $140.98.

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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