Newmont Corporation $NEM Stock Holdings Increased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI grew its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 312.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 93,566 shares of the basic materials company's stock after buying an additional 70,908 shares during the period. Citizens Financial Group Inc. RI's holdings in Newmont were worth $10,129,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in NEM. GoalVest Advisory LLC bought a new position in Newmont during the fourth quarter worth $25,000. Pinnacle Bancorp Inc. bought a new stake in Newmont during the first quarter valued at $25,000. Cedar Mountain Advisors LLC bought a new stake in Newmont during the first quarter valued at $25,000. Swiss RE Ltd. acquired a new stake in shares of Newmont during the fourth quarter worth $26,000. Finally, Cornerstone Planning Group LLC raised its holdings in shares of Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock worth $27,000 after purchasing an additional 206 shares during the period. Institutional investors and hedge funds own 68.85% of the company's stock.

More Newmont News

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

Analyst Ratings Changes

Several research analysts have recently commented on NEM shares. Argus lifted their price target on shares of Newmont from $94.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. Weiss Ratings lowered shares of Newmont from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, June 17th. BMO Capital Markets cut their target price on shares of Newmont from $145.00 to $135.00 and set an "outperform" rating on the stock in a report on Tuesday, June 23rd. Bank of America decreased their target price on Newmont from $157.00 to $132.00 and set a "buy" rating for the company in a research note on Thursday. Finally, TD Securities reaffirmed a "hold" rating and set a $129.00 target price on shares of Newmont in a report on Monday, April 27th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $137.64.

Insiders Place Their Bets

In related 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 completion of the sale, the executive vice president owned 67,865 shares of the company's stock, valued at $7,472,615.15. This represents a 16.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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, insider David John Thornton sold 2,296 shares of the company'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 $252,812.56. Following the completion of the sale, the insider directly owned 23,163 shares of the company's stock, valued at $2,550,477.93. The trade was a 9.02% 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 worth $3,058,146. 0.06% of the stock is owned by company insiders.

Newmont Stock Performance

NEM opened at $95.30 on Monday. 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 business's 50 day moving average is $104.35 and its 200-day moving average is $110.68. The stock has a market cap of $101.74 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.08 and a beta of 0.46. Newmont Corporation has a twelve month low of $55.37 and a twelve month high of $134.88.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same period in the prior year, the company posted $1.25 EPS. The business's revenue for the quarter was up 45.8% compared to the same quarter last year. On average, analysts predict that Newmont Corporation will post 9.32 earnings per share for the current year.

Newmont Dividend Announcement

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

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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