Simplicity Wealth LLC Acquires New Shares in Newmont Corporation $NEM

Key Points

• Simplicity Wealth LLC acquired 14,920 Newmont shares worth approximately $1.394 million in the second quarter. Other institutions also initiated positions, with hedge funds and institutional investors owning 68.85% of the company.
• Newmont reported quarterly EPS of $2.10, exceeding analysts’ $2.05 estimate, though revenue of $6.12 billion fell short of the $6.35 billion consensus. The company also declared a $0.26 quarterly dividend, yielding approximately 0.9% annually.
• Analyst sentiment remains moderately bullish, with a consensus price target of $132.59, but insider selling continued: the CEO and CFO sold shares, and insiders sold 32,091 shares worth $3.29 million during the latest quarter.

Simplicity Wealth LLC acquired a new position in Newmont Corporation (NYSE:NEM - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 14,920 shares of the basic materials company's stock, valued at approximately $1,394,000.

A number of other hedge funds have also bought and sold shares of the business. Baxter Bros Inc. bought a new position in Newmont during the second quarter valued at approximately $229,000. Trivium Point Advisory LLC bought a new stake in shares of Newmont in the second quarter worth $384,000. Chase Investment Counsel Corp bought a new stake in shares of Newmont in the second quarter worth $308,000. HBK Sorce Advisory LLC bought a new position in Newmont in the second quarter valued at about $227,000. Finally, OMC Financial Services LTD bought a new position in Newmont in the second quarter valued at about $804,000. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insider Activity at Newmont

In other Newmont news, CFO Brian Tabolt sold 11,445 shares of the business's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the transaction, the chief financial officer owned 29,324 shares in the company, valued at $3,081,659.16. The trade was a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Natascha Viljoen sold 7,764 shares of Newmont stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction of $807,456.00. Following the transaction, the chief executive officer directly owned 135,235 shares of the company's stock, valued at approximately $14,064,440. This represents a 5.43% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 32,091 shares of company stock valued at $3,292,513. Insiders own 0.06% of the company's stock.

Newmont Stock Up 0.0%

NEM opened at $117.80 on Monday. The company has a market capitalization of $124.12 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.31 and a beta of 0.47. The firm has a 50-day simple moving average of $98.93 and a two-hundred day simple moving average of $108.86. 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 Corporation has a 52 week low of $67.20 and a 52 week high of $134.88.

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

Newmont Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NEM shares. Scotiabank boosted their target price on shares of Newmont from $147.00 to $149.00 and gave the company an "outperform" rating in a research report on Wednesday. Argus set a $110.00 price target on shares of Newmont in a research note on Monday, August 3rd. Wall Street Zen cut Newmont from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. TD raised their price objective on Newmont from $127.00 to $133.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Finally, Zacks Research downgraded Newmont from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 14th. Two equities research 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 MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $132.59.

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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