Newmont Corporation $NEM Shares Sold by Manning & Napier Advisors LLC

Key Points

• Manning & Napier Advisors LLC cut its Newmont stake by 10.1% in the first quarter, selling 11,281 shares and ending the period with 100,190 shares valued at about $10.8 million.
• Newmont reported strong quarterly results, with EPS of $2.90 and revenue of $7.31 billion, both beating analyst expectations and marking 45.8% year-over-year revenue growth.
• Despite some recent pressure on the stock, analysts remain broadly positive: several firms reiterated Buy ratings, and Newmont’s consensus rating is Moderate Buy with a target price of $137.64.

Manning & Napier Advisors LLC reduced its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 10.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,190 shares of the basic materials company's stock after selling 11,281 shares during the quarter. Manning & Napier Advisors LLC's holdings in Newmont were worth $10,846,000 at the end of the most recent quarter.

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

Newmont Stock Up 0.5%

NEM stock traded up $0.49 during midday trading on Friday, hitting $95.30. 4,426,083 shares of the company's stock were exchanged, compared to its average volume of 8,174,271. The firm has a 50 day moving average price of $104.35 and a 200-day moving average price of $110.63. Newmont Corporation has a 12-month low of $55.37 and a 12-month high of $134.88. The stock has a market capitalization of $101.74 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 1.07 and a beta of 0.46. 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 released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.07 by $0.83. The company had revenue of $7.31 billion during the quarter, compared to analysts' expectations of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business's revenue was up 45.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 EPS. On average, analysts anticipate that Newmont Corporation will post 9.42 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed 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 was Wednesday, May 27th. Newmont's dividend payout ratio is 13.49%.

Key Stories Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont welcomed the Government of Canada’s CA$500 million funding commitment for the Red Chris Block Cave project, a move that improves the economics of a key copper-gold development and could extend the mine’s life. Newmont (NEM) Welcomes Canada Funding for Red Chris
• Positive Sentiment: UBS and Macquarie both reiterated Buy ratings on Newmont, while Bank of America also kept a Buy rating even after cutting its price target to $132, signaling analysts still see upside from current levels. UBS Keeps Their Buy Rating on Newmont Corporation CHESS (NEM)
• Positive Sentiment: Articles highlighting Newmont as undervalued and benefiting from a rebound in gold prices suggest investor interest is rising as the precious-metals trade improves. Newmont (NEM) Stock Looks Cheap On Earnings While Cash Flow Looks Fair
• Positive Sentiment: Recent trading has shown Newmont outperforming the broader market, with coverage citing renewed momentum in the stock and in gold-related names. Newmont Corporation (NEM) Outperforms Broader Market: What You Need to Know
• Neutral Sentiment: One valuation piece said Newmont looks close to fair value around the low-$90s, which may limit near-term enthusiasm even though it doesn’t signal a major downside concern. Newmont (NEM) Stock Looks Cheap On Earnings While Cash Flow Looks Fair
• Negative Sentiment: Despite the recent bounce, Newmont has still been under pressure over the past few months, and Bank of America’s price-target cut reflects some caution about the stock’s longer-term upside. Bank of America price target update on Newmont

Insider Activity at Newmont

In other news, EVP Peter Wexler sold 13,378 shares of the company's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $1,473,051.58. Following 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. The sale 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. 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 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 transaction, the chief executive officer directly owned 142,999 shares in the company, valued at $15,060,654.68. The trade was a 2.64% 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. Insiders sold 28,556 shares of company stock valued at $3,058,146 in the last 90 days. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NEM. Bank of America dropped their target price on Newmont from $157.00 to $132.00 and set a "buy" rating on the stock in a report on Thursday. National Bank Financial lifted their price objective on shares of Newmont from $130.00 to $140.00 and gave the company a "sector perform" rating in a research note on Friday, April 24th. Scotiabank reduced their target price on shares of Newmont from $152.00 to $151.00 and set a "sector outperform" rating on the stock in a research report on Friday, March 20th. TD Cowen restated a "buy" rating on shares of Newmont in a research note on Monday, April 27th. Finally, UBS Group lowered their price target on shares of Newmont from $140.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $137.64.

Newmont 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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