HighTower Advisors LLC Takes Position in Newmont Corporation $NEM

Key Points

• HighTower Advisors LLC acquired 828,505 Newmont shares during the second quarter, valued at approximately $17.3 million and representing 0.08% of the company. Institutional investors collectively own 68.85% of Newmont.
• Newmont insiders sold shares under pre-arranged Rule 10b5-1 plans, including CEO Natascha Viljoen’s $477,486 sale and EVP Peter Toth’s $369,000 sale; insiders have sold 32,091 shares worth $3.4 million over the past three months.
• Analysts maintain a generally positive outlook, with Newmont receiving a “Moderate Buy” consensus rating and an average price target of $132.73. The company also beat quarterly EPS estimates, reporting $2.10 versus the $2.05 consensus, and declared a quarterly dividend of $0.26 per share.

HighTower Advisors LLC bought a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 828,505 shares of the basic materials company's stock, valued at approximately $17,316,000. HighTower Advisors LLC owned 0.08% of Newmont at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Cedar Mountain Advisors LLC bought a new stake in Newmont during the first quarter worth about $25,000. Pinnacle Bancorp Inc. bought a new stake in shares of Newmont during the first quarter worth approximately $25,000. Swiss RE Ltd. bought a new position in shares of Newmont in the 4th quarter worth $26,000. Clearstead Trust LLC bought a new position in Newmont during the second quarter worth about $25,000. Finally, Kilter Group LLC bought a new position in Newmont during the 2nd quarter worth approximately $26,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Insider Transactions at Newmont

In related news, CEO Natascha Viljoen sold 3,882 shares of the firm's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $123.00, for a total value of $477,486.00. Following the transaction, the chief executive officer owned 131,353 shares in the company, valued at approximately $16,156,419. This trade represents a 2.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $123.00, for a total value of $369,000.00. Following the completion of the transaction, the executive vice president directly owned 37,315 shares of the company's stock, valued at approximately $4,589,745. This trade represents a 7.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 32,091 shares of company stock valued at $3,414,187. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NEM. UBS Group lowered their price target on Newmont from $140.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. TD Securities raised Newmont from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. Weiss Ratings cut shares of Newmont from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, June 17th. Argus set a $110.00 price objective on Newmont in a research report on Monday, August 3rd. Finally, Canadian Imperial Bank of Commerce set a $170.00 price target on Newmont in a report on Friday, August 14th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $132.73.

Newmont Stock Down 0.6%

NEM opened at $127.28 on Wednesday. Newmont Corporation has a fifty-two week low of $75.45 and a fifty-two week high of $135.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The company has a market capitalization of $134.11 billion, a P/E ratio of 16.07, a P/E/G ratio of 1.80 and a beta of 0.52. The stock has a fifty day moving average of $108.53 and a 200-day moving average of $109.67.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, beating the consensus estimate of $2.05 by $0.05. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The business had revenue of $6.12 billion for the quarter, compared to the consensus estimate of $6.35 billion. During the same period in the prior year, the company posted $1.43 earnings per share. On average, equities analysts expect that Newmont Corporation will post 9.01 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, September 3rd. Newmont's dividend payout ratio (DPR) is 13.13%.

About Newmont

Newmont Corporation NYSE: NEM is a global mining company primarily focused on the exploration, development and production of gold. The company also produces copper, silver, zinc and lead as byproducts or from polymetallic operations. Its activities include operating mines, developing mineral projects and managing related processing and infrastructure assets.

Founded in 1921, Newmont became one of the first gold companies to be listed on the New York Stock Exchange. The company expanded significantly with its acquisition of Newcrest Mining, completed in 2023, which added major assets in Australia, Canada and Papua New Guinea to its portfolio.

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