Newmont Corporation $NEM Stake Lowered by Blue Capital Inc.

Key Points

• Blue Capital Inc. reduced its Newmont stake by 55.7% in the fourth quarter, selling 39,041 shares and leaving it with 31,054 shares valued at about $3.1 million.
• Newmont reported strong quarterly results, posting EPS of $2.90 versus estimates of $2.07 and revenue of $7.31 billion versus expectations of $6.83 billion, with revenue up 45.8% year over year.
• Analyst sentiment remains mostly positive despite mixed moves: Jefferies raised its target to $158 with a buy rating, while the overall consensus is a Moderate Buy and an average price target of $140.98.

Blue Capital Inc. cut its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 55.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,054 shares of the basic materials company's stock after selling 39,041 shares during the quarter. Newmont comprises about 2.2% of Blue Capital Inc.'s investment portfolio, making the stock its 10th largest position. Blue Capital Inc.'s holdings in Newmont were worth $3,101,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. GoalVest Advisory LLC purchased a new position in Newmont in the fourth quarter valued at about $25,000. Swiss RE Ltd. purchased a new stake in shares of Newmont during the 4th quarter worth approximately $26,000. Cornerstone Planning Group LLC boosted its stake 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 worth $27,000 after acquiring an additional 206 shares in the last quarter. Lodestone Wealth Management LLC acquired a new stake in shares of Newmont in the 4th quarter worth approximately $28,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of Newmont in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Several recent reports remain constructive on Newmont’s longer-term outlook, including coverage highlighting the company as a key name in gold mining and analyst commentary pointing to meaningful upside versus current levels. Why Newmont Remains a Key Name In Gold Mining?
• Positive Sentiment: Zacks Research upgraded Newmont from “hold” to “strong-buy,” while another Zacks piece said the stock could have about 30% upside based on Wall Street price targets, reinforcing bullish analyst sentiment. Does Newmont (NEM) Have the Potential to Rally 30.14% as Wall Street Analysts Expect?
• Neutral Sentiment: Newmont announced a management refresh, including new CFO, COO, and technical chief appointments effective July 1. This could support execution over time, but near-term investors may be waiting to see how the new team performs. Newmont (NEM) Appoints New CFO COO And Technical Chief Under Natascha Viljoen
• Negative Sentiment: BNP Paribas Exane cut its price target on Newmont from $128 to $111 and kept a “neutral” rating, which may be weighing on sentiment despite the target still sitting above the current share price. BNP Paribas Exane adjusts price target on Newmont to 111 from 128, maintains neutral rating
• Negative Sentiment: Recent trading commentary noted that Newmont fell even as the broader market moved higher, suggesting investors are taking profits or reacting cautiously after a strong run in the stock. Newmont Corporation (NEM) Stock Falls Amid Market Uptick: What Investors Need to Know

Newmont Trading Down 1.7%

Shares of Newmont 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 1 year low of $55.37 and a 1 year high of $134.88. The company has a market capitalization of $110.88 billion, a P/E ratio of 13.47, a P/E/G ratio of 1.75 and a beta of 0.42. The business has a 50 day moving average price of $110.31 and a 200 day moving average price of $110.61.

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

Newmont Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NEM shares. Jefferies Financial Group lifted their price objective on Newmont from $154.00 to $158.00 and gave the stock a "buy" rating in a report on Monday, June 8th. Wall Street Zen downgraded Newmont from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 30th. Barclays started coverage on Newmont in a report on Thursday, May 21st. They issued an "overweight" rating and a $133.00 target price on the stock. TD Cowen restated a "buy" rating on shares of Newmont in a research report on Monday, April 27th. Finally, Macquarie Infrastructure cut their price target on Newmont from $133.00 to $123.00 and set an "outperform" rating for the company in a research note on Monday. Three investment 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, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $140.98.

Insider Buying and Selling

In related news, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction 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. This trade represents a 2.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $315,960.00. Following the sale, the executive vice president owned 46,315 shares of the company's stock, valued at approximately $4,877,895.80. This represents a 6.08% 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 have sold 28,556 shares of company stock valued at $3,120,276 over the last three months. Insiders own 0.06% of the company's stock.

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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