State of Wisconsin Investment Board Increases Stock Holdings in Newmont Corporation $NEM

Key Points

• State of Wisconsin Investment Board increased its Newmont stake by 7.4% in the fourth quarter, ending with 685,218 shares valued at about $68.4 million. Overall, institutional investors still own a large majority of the stock, with hedge funds and other institutions holding 68.85%.
• Newmont insiders have been selling shares, including EVP Peter Wexler and EVP Peter Toth, with 28,556 shares sold over the last 90 days. The sales were made under pre-arranged 10b5-1 plans, largely tied to tax withholding and equity award vesting.
• The company posted strong quarterly results and continues to return cash to shareholders, beating earnings and revenue estimates with EPS of $2.90 on revenue of $7.31 billion. Newmont also declared a quarterly dividend of $0.26 per share, yielding about 1.0% annualized.

State of Wisconsin Investment Board raised its stake in Newmont Corporation (NYSE:NEM - Free Report) by 7.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 685,218 shares of the basic materials company's stock after purchasing an additional 47,431 shares during the period. State of Wisconsin Investment Board owned 0.06% of Newmont worth $68,419,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Apella Capital LLC increased its stake in Newmont by 4.1% in the fourth quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company's stock valued at $219,000 after purchasing an additional 86 shares during the last quarter. New Wave Wealth Advisors LLC grew its position in shares of Newmont by 1.3% during the fourth quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company's stock worth $684,000 after acquiring an additional 88 shares during the last quarter. Novem Group grew its position in shares of Newmont by 3.7% during the fourth quarter. Novem Group now owns 2,487 shares of the basic materials company's stock worth $248,000 after acquiring an additional 88 shares during the last quarter. Norden Group LLC grew its position in shares of Newmont by 0.7% during the fourth quarter. Norden Group LLC now owns 12,367 shares of the basic materials company's stock worth $1,235,000 after acquiring an additional 90 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its position in shares of Newmont by 1.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company's stock worth $714,000 after acquiring an additional 96 shares during the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Peter Wexler sold 13,378 shares of Newmont stock in a transaction on 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 transaction, the executive vice president directly owned 67,865 shares in the company, valued at $7,472,615.15. This trade represents a 16.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $315,960.00. Following the completion of the transaction, the executive vice president owned 46,315 shares in the company, valued at approximately $4,877,895.80. This trade represents a 6.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 28,556 shares of company stock valued at $3,120,276. Corporate insiders own 0.06% of the company's stock.

Newmont Stock Performance

NYSE:NEM opened at $108.46 on Wednesday. The firm's fifty day moving average price is $110.66 and its 200 day moving average price is $110.41. Newmont Corporation has a 1-year low of $55.37 and a 1-year high of $134.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The firm has a market cap of $115.79 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 1.75 and a beta of 0.42.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating analysts' consensus estimates of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The firm had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same period last year, the firm posted $1.25 EPS. Newmont's quarterly revenue was up 45.8% on a year-over-year basis. On average, sell-side analysts expect that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, May 27th. Newmont's dividend payout ratio (DPR) is 13.49%.

Newmont News Roundup

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Zacks Research upgraded Newmont from hold to strong-buy, adding to the bullish tone around the stock and signaling improved analyst confidence in the company’s outlook.
• Positive Sentiment: Newmont announced key leadership appointments, naming veteran executives to the CFO, COO, and technical chief roles effective July 1. Investors are likely viewing the internal promotions as a sign of continuity and operational stability. Newmont Announces Key Executive Appointments for the Next Phase of Delivery
• Positive Sentiment: Barron’s said gold’s recent pullback may be more of a reset than a breakdown, and suggested Newmont could benefit if gold prices rebound. That supports the stock because Newmont is a major gold producer. Gold's Correction Looks More Like a Reset. Newmont and These 4 Stocks Are Buys.
• Neutral Sentiment: Several articles highlighted that Newmont has been drawing investor attention and remains on “best value” and “top gold stocks” lists, reinforcing interest in the name but offering limited new information.
• Negative Sentiment: Macquarie trimmed its price target on Newmont to $123 from $133, even while keeping an outperform rating. That may temper enthusiasm somewhat, though the revised target still implies upside. Macquarie adjusts price target on Newmont to 123 from 133, maintains outperform rating

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NEM. Argus raised their target price on shares of Newmont from $94.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Weiss Ratings lowered shares of Newmont from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, May 27th. Canaccord Genuity Group raised their target price on shares of Newmont from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Zacks Research upgraded shares of Newmont from a "hold" rating to a "strong-buy" rating in a research report on Monday. Finally, Citigroup raised their target price on shares of Newmont from $118.00 to $150.00 and gave the stock a "buy" rating in a research report on Tuesday, March 3rd. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, Newmont presently has an average rating of "Moderate Buy" and an average price target of $141.79.

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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