McAlvany Wealth Management LLC Purchases Shares of 27,154 Newmont Corporation $NEM

Key Points

• McAlvany Wealth Management opened a new position in Newmont, buying 27,154 shares worth about $2.71 million in the fourth quarter. The stake now represents 2.1% of its portfolio.
• Newmont reported better-than-expected first-quarter results, with EPS of $2.90 versus $2.07 expected and revenue of $7.31 billion, up 45.8% year over year. Analysts still forecast full-year EPS of 9.91.
• The company declared a quarterly dividend of $0.26 per share, and analysts remain broadly positive overall with a Moderate Buy consensus and a target price of $140.98.

McAlvany Wealth Management LLC acquired a new position in Newmont Corporation (NYSE:NEM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 27,154 shares of the basic materials company's stock, valued at approximately $2,711,000. Newmont accounts for 2.1% of McAlvany Wealth Management LLC's investment portfolio, making the stock its 16th largest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. GoalVest Advisory LLC purchased a new stake in Newmont during the fourth quarter valued at approximately $25,000. Swiss RE Ltd. purchased a new position in shares of Newmont during the 4th quarter worth $26,000. Cornerstone Planning Group LLC grew its position in shares of Newmont by 312.1% during 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 period. JPL Wealth Management LLC bought a new stake in shares of Newmont during the 3rd quarter valued at $27,000. Finally, Lodestone Wealth Management LLC purchased a new stake in shares of Newmont in the 4th quarter worth $28,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insiders Place Their Bets

In related news, CEO Natascha Viljoen sold 3,882 shares of the 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 sale, the chief executive officer owned 142,999 shares in the company, valued at approximately $15,060,654.68. This trade represents a 2.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the sale, the insider directly owned 23,163 shares in the company, valued at $2,550,477.93. This trade 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. In the last ninety days, insiders sold 28,556 shares of company stock worth $3,120,276. 0.06% of the stock is currently owned by insiders.

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 Stock Up 0.1%

Shares of NEM stock opened at $103.86 on Friday. 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 Corporation has a one year low of $55.37 and a one year high of $134.88. The company's fifty day moving average price is $110.02 and its 200-day moving average price is $110.56. The company has a market capitalization of $110.88 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 1.72 and a beta of 0.42.

Newmont (NYSE:NEM - Get Free Report) last issued 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. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter in the prior year, the firm posted $1.25 EPS. Newmont's quarterly revenue was up 45.8% compared to the same quarter last year. Sell-side analysts expect that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently commented on NEM. UBS Group decreased their target price on Newmont from $150.00 to $140.00 and set a "buy" rating on the stock in a report on Friday, March 27th. Bank of America boosted their price target on Newmont from $134.00 to $151.00 and gave the company a "buy" rating in a report on Thursday, February 26th. Sanford C. Bernstein upgraded Newmont from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $121.00 to $157.00 in a research report on Friday, February 27th. TD Cowen reaffirmed a "buy" rating on shares of Newmont in a research note on Monday, April 27th. Finally, The Goldman Sachs Group lowered their price objective on Newmont from $125.10 to $122.50 and set a "buy" rating on the stock in a research report on Thursday, June 4th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Newmont currently has a consensus rating of "Moderate Buy" and a consensus target price of $140.98.

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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