Silverlake Wealth Management LLC Purchases New Position in Newmont Corporation $NEM

Key Points

• Silverlake Wealth Management purchased 12,268 Newmont shares worth approximately $1.15 million, while institutional investors collectively own 68.85% of the company.
• Newmont reported quarterly EPS of $2.10, beating estimates of $2.05, although revenue of $6.12 billion fell short of the $6.35 billion consensus forecast.
• The stock has a “Moderate Buy” consensus rating with an average price target of $132.59, and Newmont declared a quarterly dividend of $0.26 per share, representing a 0.9% yield.

Silverlake Wealth Management LLC purchased a new stake in shares of Newmont Corporation (NYSE:NEM - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 12,268 shares of the basic materials company's stock, valued at approximately $1,146,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CWM LLC lifted its position in shares of Newmont by 64.6% during the fourth quarter. CWM LLC now owns 202,892 shares of the basic materials company's stock valued at $20,259,000 after purchasing an additional 79,617 shares in the last quarter. Leonteq Securities AG bought a new stake in Newmont in the 4th quarter worth about $9,018,000. ARS Investment Partners LLC increased its stake in Newmont by 3.6% in the 4th quarter. ARS Investment Partners LLC now owns 697,063 shares of the basic materials company's stock valued at $69,602,000 after buying an additional 23,900 shares during the last quarter. KBC Group NV increased its stake in Newmont by 8.8% in the 4th quarter. KBC Group NV now owns 235,271 shares of the basic materials company's stock valued at $23,492,000 after buying an additional 18,940 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Newmont by 37.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 214,282 shares of the basic materials company's stock worth $21,440,000 after buying an additional 58,690 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Stock Up 3.2%

NEM opened at $117.80 on Friday. Newmont Corporation has a twelve month low of $67.20 and a twelve month high of $134.88. The company's 50-day moving average price is $98.93 and its two-hundred day moving average price is $108.98. The stock has a market cap of $124.12 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 1.31 and a beta of 0.47. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.05. The company had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same quarter last year, the business posted $1.43 EPS. As a group, equities analysts expect that Newmont Corporation will post 9 earnings per share for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, September 3rd. Newmont's dividend payout ratio is 13.13%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group cut their target price on Newmont from $158.00 to $146.00 and set a "buy" rating on the stock in a research note on Monday, July 6th. Argus set a $110.00 price target on Newmont in a research report on Monday, August 3rd. BMO Capital Markets dropped their price target on Newmont from $145.00 to $135.00 and set an "outperform" rating on the stock in a report on Tuesday, June 23rd. UBS Group cut their price objective on Newmont from $140.00 to $120.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Finally, Macquarie Infrastructure reduced their price objective on Newmont from $133.00 to $123.00 and set an "outperform" rating for the company in a research note on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $132.59.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $93.45, for a total transaction of $280,350.00. Following the transaction, the executive vice president owned 40,315 shares of the company's stock, valued at $3,767,436.75. This represents a 6.93% decrease in their position. The sale was disclosed in a 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, CFO Brian Tabolt sold 11,445 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total value of $1,202,755.05. Following the transaction, the chief financial officer owned 29,324 shares of the company's stock, valued at $3,081,659.16. The trade was a 28.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 32,091 shares of company stock valued at $3,292,513 over the last ninety days. 0.06% of the stock is currently owned by insiders.

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: New Nevada earn-in agreement: Newmont signed an agreement with Headwater Gold to earn an interest in the Jupiter Project, a potential district-scale epithermal gold project in Nevada. The deal expands Newmont’s exploration pipeline and could provide additional future resource growth. Headwater Gold and Newmont sign earn-in agreement for Jupiter project
• Positive Sentiment: Gold-market support: Gold prices near record levels are improving the outlook for gold producers such as Newmont and have been a major factor behind the company’s recent rally. Newmont’s Nevada agreements, including the Jupiter earn-in and its Spring Peak joint venture, further support investor interest in future production growth. Is Newmont in the spotlight as gold sits near record highs?
• Positive Sentiment: Optimistic analyst outlook: TD Securities and Scotiabank reportedly expect further appreciation in Newmont’s stock. Recent analyst targets compiled in market commentary show a median target of approximately $145.50, above the current trading level, although targets remain sensitive to gold prices and operating execution. Newmont stock price expected to rise, TD analyst says
• Positive Sentiment: Unusual options activity: Traders purchased 47,733 NEM call options, roughly 119% above average call volume. This indicates heightened bullish positioning, though options activity can also reflect short-term speculation rather than a change in fundamentals.
• Neutral Sentiment: Valuation debate: One analysis estimates Newmont could be about 19% undervalued following its Nevada deals, while another notes that the recent rally may already reflect much of the benefit from higher gold prices. Newmont could be 19% undervalued following Nevada gold deals
• Negative Sentiment: Operating risks and profit-taking: Analysts continue to flag lower production, rising costs and potentially weaker estimates. Investors are also monitoring uncertainty surrounding Nevada Gold Mines, Barrick’s Fourmile project and the valuation of the joint venture.
• Negative Sentiment: Insider selling: Reported insider activity shows 15 open-market sales and no purchases over the past six months, including sales by senior executives. This may weigh on sentiment, though insider transactions do not necessarily indicate a change in the company’s outlook.

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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