Ninety One UK Ltd Lowers Position in Newmont Corporation $NEM

Key Points

• Ninety One UK Ltd reduced its stake in Newmont by 23.0% in Q4, selling 787,185 shares and ending the period with 2,634,317 shares worth about $263.0 million (≈0.24% ownership).
• Newmont posted strong quarterly results, reporting $2.52 EPS (vs. $1.81 expected) and revenue of $6.82 billion—up 20.6% year‑over‑year—with analysts projecting about 3.45 EPS for the fiscal year.
• The company raised its quarterly dividend to $0.26 (annualized $1.04, ~0.9% yield), and has a consensus analyst rating of "Moderate Buy" with a $133.38 price target.

Ninety One UK Ltd cut its stake in Newmont Corporation (NYSE:NEM - Free Report) by 23.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,634,317 shares of the basic materials company's stock after selling 787,185 shares during the period. Ninety One UK Ltd owned 0.24% of Newmont worth $263,037,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NEM. Tanager Wealth Management LLP purchased a new position in shares of Newmont during the fourth quarter valued at approximately $237,000. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Newmont by 12.2% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 33,331 shares of the basic materials company's stock valued at $3,328,000 after purchasing an additional 3,615 shares during the last quarter. Moss Adams Wealth Advisors LLC lifted its holdings in shares of Newmont by 7.6% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 3,723 shares of the basic materials company's stock valued at $372,000 after purchasing an additional 263 shares during the last quarter. SMART Wealth LLC lifted its holdings in shares of Newmont by 8.7% during the fourth quarter. SMART Wealth LLC now owns 8,261 shares of the basic materials company's stock valued at $825,000 after purchasing an additional 661 shares during the last quarter. Finally, Merit Financial Group LLC lifted its holdings in shares of Newmont by 48.0% during the fourth quarter. Merit Financial Group LLC now owns 59,084 shares of the basic materials company's stock valued at $5,900,000 after purchasing an additional 19,168 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Newmont news, insider David James Fry sold 18,394 shares of Newmont stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the completion of the sale, the insider owned 17,147 shares of the company's stock, valued at approximately $1,911,033.15. The trade was a 51.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $113.09, for a total transaction of $339,270.00. Following the completion of the sale, the executive vice president directly owned 52,315 shares of the company's stock, valued at approximately $5,916,303.35. This trade represents a 5.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 24,394 shares of company stock valued at $2,713,281. 0.06% of the stock is currently owned by insiders.

Newmont Price Performance

Shares of NEM opened at $116.50 on Friday. The company has a market capitalization of $125.81 billion, a P/E ratio of 18.23, a price-to-earnings-growth ratio of 0.87 and a beta of 0.46. The company has a quick ratio of 2.02, a current ratio of 2.29 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average of $115.51 and a 200 day moving average of $103.72. Newmont Corporation has a twelve month low of $48.27 and a twelve month high of $134.88.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Thursday, February 19th. The basic materials company reported $2.52 EPS for the quarter, topping analysts' consensus estimates of $1.81 by $0.71. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.18 billion. During the same quarter in the previous year, the firm posted $1.40 EPS. The firm's revenue was up 20.6% on a year-over-year basis. As a group, equities research analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Tuesday, March 3rd were given a $0.26 dividend. This is a boost from Newmont's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. Newmont's payout ratio is presently 16.28%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NEM. Royal Bank Of Canada lifted their target price on shares of Newmont from $120.00 to $125.00 and gave the company an "outperform" rating in a report on Tuesday, February 3rd. TD Cowen lifted their target price on shares of Newmont from $89.00 to $120.00 and gave the company a "hold" rating in a report on Thursday, January 22nd. BMO Capital Markets reduced their price target on shares of Newmont from $145.00 to $140.00 and set an "outperform" rating for the company in a research report on Friday, February 20th. Weiss Ratings reissued a "buy (b-)" rating on shares of Newmont in a research report on Monday, December 29th. Finally, Canaccord Genuity Group raised their price target on shares of Newmont from $115.00 to $140.00 and gave the company a "buy" rating in a research report on Friday, January 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $133.38.

Newmont Company 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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