Newmont Corporation $NEM is ARS Investment Partners LLC's 2nd Largest Position

Key Points

• ARS Investment Partners boosted its Newmont stake by 14.1% in the first quarter, adding 98,208 shares and making NEM its second-largest holding. The firm now owns 795,271 shares valued at about $86.1 million.
• Newmont reported strong quarterly earnings, with EPS of $2.90 versus the $2.07 estimate and revenue of $7.31 billion, both above expectations. Revenue also jumped 45.8% from a year earlier.
• The company announced a quarterly dividend of $0.26 per share, and analysts remain generally constructive with a consensus rating of Moderate Buy and an average price target of $140.98.

ARS Investment Partners LLC increased its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 14.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 795,271 shares of the basic materials company's stock after purchasing an additional 98,208 shares during the quarter. Newmont accounts for approximately 4.5% of ARS Investment Partners LLC's holdings, making the stock its 2nd biggest position. ARS Investment Partners LLC owned approximately 0.07% of Newmont worth $86,088,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GoalVest Advisory LLC acquired a new position in Newmont in the 4th quarter valued at $25,000. Swiss RE Ltd. acquired a new stake in shares of Newmont in the 4th quarter worth $26,000. Cornerstone Planning Group LLC lifted 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 worth $27,000 after acquiring an additional 206 shares during the period. JPL Wealth Management LLC purchased a new stake in shares of Newmont in the third quarter valued at about $27,000. Finally, Lodestone Wealth Management LLC purchased a new stake in shares of Newmont in the fourth quarter valued at about $28,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Newmont

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 Price Performance

Shares of NYSE NEM opened at $103.86 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. Newmont Corporation has a one year low of $55.37 and a one year high of $134.88. The firm has a market capitalization of $110.88 billion, a P/E ratio of 13.47, a PEG ratio of 1.72 and a beta of 0.42. The company's fifty day moving average is $110.02 and its two-hundred day moving average is $110.56.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) 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 posted $1.25 EPS. The business's revenue was up 45.8% compared to the same quarter last year. Analysts forecast that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NEM. Citigroup boosted their price target on shares of Newmont from $118.00 to $150.00 and gave the stock a "buy" rating in a research note on Tuesday, March 3rd. TD Cowen restated a "buy" rating on shares of Newmont in a research report on Monday, April 27th. TD lifted their price objective on Newmont from $116.00 to $129.00 and gave the company a "hold" rating in a report on Monday, April 27th. Jefferies Financial Group boosted their target price on Newmont from $154.00 to $158.00 and gave the stock a "buy" rating in a research report on Monday, June 8th. Finally, Macquarie Infrastructure cut their target price on Newmont from $133.00 to $123.00 and set an "outperform" rating for the company in a research note on Monday, June 15th. Three investment 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.98.

Insider Activity at Newmont

In other news, CEO Natascha Viljoen sold 3,882 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the sale, the chief executive officer owned 142,999 shares of the company's stock, valued at $15,060,654.68. The trade was a 2.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 that occurred on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $1,473,051.58. Following the completion of the sale, the executive vice president owned 67,865 shares in the company, valued at approximately $7,472,615.15. This represents a 16.47% 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 valued at $3,120,276. 0.06% of the stock is currently owned by corporate insiders.

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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