Newmont Corporation $NEM Position Increased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its Newmont stake by 28% in the fourth quarter, buying 923,546 additional shares and ending with 4.22 million shares valued at about $422.1 million.
• Newmont reported better-than-expected Q1 earnings of $2.90 per share on revenue of $7.31 billion, while analysts now project full-year EPS of 9.91.
• The company’s outlook remains mixed: it has a moderate buy consensus with a $140.98 target price, but analysts have also flagged a mine halt after an earthquake and a recent price-target cut from BNP Paribas Exane.

Hsbc Holdings PLC boosted its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 28.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,223,631 shares of the basic materials company's stock after purchasing an additional 923,546 shares during the period. Hsbc Holdings PLC owned 0.39% of Newmont worth $422,149,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Apella Capital LLC raised its stake in shares of Newmont by 4.1% during the 4th quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company's stock worth $219,000 after purchasing an additional 86 shares in the last quarter. New Wave Wealth Advisors LLC lifted its holdings in shares of Newmont by 1.3% during the 4th quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company's stock valued at $684,000 after buying an additional 88 shares during the last quarter. Novem Group grew its stake in shares of Newmont by 3.7% in the 4th quarter. Novem Group now owns 2,487 shares of the basic materials company's stock valued at $248,000 after buying an additional 88 shares in the last quarter. Norden Group LLC grew its stake in shares of Newmont by 0.7% in the 4th quarter. Norden Group LLC now owns 12,367 shares of the basic materials company's stock valued at $1,235,000 after buying an additional 90 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in Newmont by 1.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company's stock worth $714,000 after buying an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NEM. Jefferies Financial Group raised their price objective on shares of Newmont from $154.00 to $158.00 and gave the company a "buy" rating in a research report on Monday, June 8th. BMO Capital Markets boosted their target price on shares of Newmont from $140.00 to $145.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Wall Street Zen lowered shares of Newmont from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 30th. Canaccord Genuity Group raised their price target on shares of Newmont from $150.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Finally, TD Securities reaffirmed a "hold" rating and issued a $129.00 price objective on shares of Newmont in a research note on Monday, April 27th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.98.

Newmont Stock Performance

NYSE:NEM opened at $103.86 on Friday. The firm has a market capitalization of $110.88 billion, a PE ratio of 13.47, a PEG ratio of 1.72 and a beta of 0.42. Newmont Corporation has a 1 year low of $55.37 and a 1 year high of $134.88. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The firm's fifty day simple moving average is $110.02 and its 200 day simple moving average is $110.56.

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, topping 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 firm had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same quarter in the previous year, the business earned $1.25 EPS. The business's revenue was up 45.8% on a year-over-year basis. On average, sell-side analysts anticipate that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Dividend Announcement

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 is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. Newmont's payout ratio is presently 13.49%.

Insiders Place Their Bets

In related news, EVP Peter Wexler sold 13,378 shares of the business's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the completion of the transaction, the executive vice president owned 67,865 shares of the company's stock, valued at approximately $7,472,615.15. The trade was a 16.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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. Also, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $408,852.24. Following the sale, the chief executive officer owned 142,999 shares of the company's stock, valued at approximately $15,060,654.68. The trade was a 2.64% 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. Insiders sold a total of 28,556 shares of company stock worth $3,120,276 over the last quarter. 0.06% of the stock is currently owned by company 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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