World Investment Advisors Purchases 14,418 Shares of Newmont Corporation $NEM

Key Points

• World Investment Advisors boosted its Newmont stake by 298.1% in the fourth quarter, buying 14,418 additional shares to bring its total holding to 19,255 shares worth about $1.92 million.
• Newmont reported strong quarterly results, with EPS of $2.90 beating estimates and revenue of $7.31 billion topping expectations, while earnings and sales rose sharply from a year earlier.
• The company also declared a quarterly dividend of $0.26 per share, and analysts remain broadly constructive, with a consensus rating of Moderate Buy and an average price target of $140.98.

World Investment Advisors increased its position in Newmont Corporation (NYSE:NEM - Free Report) by 298.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,255 shares of the basic materials company's stock after buying an additional 14,418 shares during the period. World Investment Advisors' holdings in Newmont were worth $1,923,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Newmont in the fourth quarter worth $1,443,128,000. Van ECK Associates Corp increased its position in Newmont by 23.4% during the fourth quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company's stock valued at $2,973,539,000 after acquiring an additional 5,643,496 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Newmont by 110.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,743,228 shares of the basic materials company's stock valued at $873,011,000 after acquiring an additional 4,588,018 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Newmont by 82.5% in the fourth quarter. AQR Capital Management LLC now owns 7,402,278 shares of the basic materials company's stock valued at $739,117,000 after acquiring an additional 3,345,543 shares during the period. Finally, Assetmark Inc. raised its stake in shares of Newmont by 398.3% in the fourth quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company's stock valued at $286,619,000 after acquiring an additional 2,294,396 shares during the period. 68.85% of the stock is owned by institutional investors.

Insider Activity at Newmont

In other news, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $252,812.56. Following the completion of the sale, the insider owned 23,163 shares of the company's stock, valued at approximately $2,550,477.93. The trade was a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 the business's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $315,960.00. Following the completion of the sale, the executive vice president owned 46,315 shares of the company's stock, valued at $4,877,895.80. The trade was a 6.08% decrease in their position. 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 three months, insiders sold 28,556 shares of company stock valued at $3,120,276. 0.06% of the stock is owned by insiders.

Newmont Stock Up 0.1%

Shares of NEM opened at $103.86 on Friday. The firm has a fifty day moving average price of $110.02 and a 200-day moving average price of $110.56. 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 firm has a market capitalization of $110.88 billion, a P/E ratio of 13.47, a P/E/G ratio of 1.72 and a beta of 0.42. Newmont Corporation has a 12-month low of $55.37 and a 12-month high of $134.88.

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

Newmont Dividend Announcement

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

More Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont received major regulatory approvals from British Columbia for its Red Chris Block Cave project, a key milestone that supports a transition from open-pit mining to block caving and extends the mine life into the mid-2040s. The approval improves visibility on future production and could support the stock by advancing Newmont toward a final investment decision later this year. Article Title
• Positive Sentiment: Newmont continues to be viewed as a core name in gold mining, and broader strength in gold/mining shares may be helping sentiment around the stock. This can provide support even when company-specific news is limited. Article Title
• Neutral Sentiment: BNP Paribas Exane lowered its price target on Newmont to $111 from $128 while keeping a neutral rating. That is still above the current share price, but the cut may temper near-term enthusiasm. Article Title
• Negative Sentiment: Reports say Newmont’s Cadia mine was halted after an earthquake, raising concerns about temporary production disruption. Any prolonged shutdown could weigh on output and sentiment until Newmont clarifies the impact. Article Title

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NEM shares. Zacks Research raised shares of Newmont from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 15th. Barclays started coverage on shares of Newmont in a research report on Thursday, May 21st. They issued an "overweight" rating and a $133.00 price objective on the stock. Argus raised their price objective on shares of Newmont from $94.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. UBS Group dropped their target price on Newmont from $150.00 to $140.00 and set a "buy" rating for the company in a research report on Friday, March 27th. Finally, Royal Bank Of Canada cut their target price on Newmont from $160.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $140.98.

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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