Newmont Corporation $NEM Holdings Cut by Financiere des Professionnels Fonds d investissement inc.

Key Points

• Financiere des Professionnels Fonds d’investissement inc. cut its Newmont stake by 15.4% in the first quarter, selling 11,451 shares and leaving it with 62,749 shares valued at about $6.79 million.
• Newmont shares were down 4.6% to $90.83, even after the company reported better-than-expected Q1 results with EPS of $2.90 on revenue of $7.31 billion.
• The company recently paid a quarterly dividend of $0.26 per share, while analysts remain mostly positive overall despite several recent price-target cuts; the consensus rating is still “Moderate Buy.”

Financiere des Professionnels Fonds d investissement inc. reduced its stake in Newmont Corporation (NYSE:NEM - Free Report) by 15.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,749 shares of the basic materials company's stock after selling 11,451 shares during the period. Financiere des Professionnels Fonds d investissement inc.'s holdings in Newmont were worth $6,793,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. GoalVest Advisory LLC acquired a new position in Newmont during the 4th quarter valued at approximately $25,000. Pinnacle Bancorp Inc. acquired a new stake in Newmont in the first quarter worth $25,000. Cedar Mountain Advisors LLC acquired a new stake in Newmont in the first quarter worth $25,000. Swiss RE Ltd. bought a new stake in Newmont in the fourth quarter valued at $26,000. Finally, Cornerstone Planning Group LLC lifted its stake in Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock valued at $27,000 after buying an additional 206 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Newmont

In other news, CEO Natascha Viljoen sold 3,882 shares of the company's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the completion of the sale, the chief executive officer owned 142,999 shares in the company, valued at $15,060,654.68. This represents a 2.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 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 transaction, the executive vice president directly owned 43,315 shares of the company's stock, valued at $4,001,439.70. This represents a 6.48% 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. In the last 90 days, insiders sold 28,556 shares of company stock valued at $3,058,146. Company insiders own 0.06% of the company's stock.

Newmont Stock Down 4.6%

NEM stock opened at $90.83 on Friday. Newmont Corporation has a 52 week low of $56.73 and a 52 week high of $134.88. The company has a market capitalization of $96.96 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 1.08 and a beta of 0.46. The firm's 50-day moving average is $102.85 and its two-hundred day moving average is $110.35. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating 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 business had revenue of $7.31 billion during the quarter, compared to analysts' expectations of $6.83 billion. During the same period last year, the firm posted $1.25 earnings per share. The business's revenue was up 45.8% on a year-over-year basis. On average, analysts forecast that Newmont Corporation will post 9.32 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, May 27th. Newmont's dividend payout ratio (DPR) is presently 13.49%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Royal Bank Of Canada lowered their price target on shares of Newmont from $140.00 to $135.00 and set an "outperform" rating for the company in a research report on Thursday, July 9th. Jefferies Financial Group cut their price objective on shares of Newmont from $158.00 to $146.00 and set a "buy" rating on the stock in a research report on Monday, July 6th. Wall Street Zen lowered shares of Newmont from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 30th. TD upgraded shares of Newmont from a "hold" rating to a "buy" rating and decreased their target price for the stock from $129.00 to $127.00 in a research report on Tuesday. Finally, National Bank Financial cut their price target on Newmont from $140.00 to $125.00 and set a "sector perform" rating on the stock in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $136.26.

Key Stories Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Negative Sentiment: Zacks Research downgraded Newmont from “strong-buy” to “hold,” adding to near-term pressure on the stock. Newmont was downgraded by Zacks Research from "strong-buy" to "hold".
• Negative Sentiment: Investors are also worried about the upcoming quarterly report, as coverage notes Newmont may not have the setup for an earnings beat even though EPS is expected to grow. Newmont Corporation (NEM) Earnings Expected to Grow: What to Know Ahead of Next Week's Release
• Neutral Sentiment: Newmont resumed operations at its Cadia mine after a seismic event, and management said inspections found no injuries or damage. That removes an operational overhang, but the company still faces higher costs and softer gold prices. Newmont (NEM) Resumes Cadia Operations As It Pushes Ahead With Key Growth Projects
• Positive Sentiment: Several analysts remain constructive, with reports pointing to improved operational efficiency, growing free cash flow, and share buybacks as Newmont works through Newcrest integration. Did Analyst Upgrades and Buybacks Just Shift Newmont's (NEM) Operational Efficiency Investment Narrative?
• Positive Sentiment: Some analysts also argued Newmont looks undervalued, citing permits that could unlock major copper-gold resources and support a production rebound. Newmont: The Permits That Set The Stage For A Re-Rating

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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