Rep. Robert Bresnahan, Jr. Buys Newmont Co. (NYSE:NEM) Stock

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently bought shares of Newmont Co. NYSE: NEM. In a filing disclosed on May 08th, the Representative disclosed that they had bought between $1,001 and $15,000 in Newmont stock on April 8th. The trade occurred in the Representative's "JP MORGAN BROKERAGE ACCOUNT" account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 4/17/2025.
• Sold $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 4/16/2025.
• Sold $1,001 - $15,000 in shares of Western Digital NASDAQ: WDC on 4/11/2025.
• Sold $1,001 - $15,000 in shares of Western Digital NASDAQ: WDC on 4/10/2025.
• Sold $1,001 - $15,000 in shares of DexCom NASDAQ: DXCM on 4/8/2025.
• Sold $1,001 - $15,000 in shares of Invesco NYSE: IVZ on 4/8/2025.
• Sold $1,001 - $15,000 in shares of Generac NYSE: GNRC on 4/8/2025.
• Sold $15,001 - $50,000 in shares of Occidental Petroleum NYSE: OXY on 4/8/2025.
• Sold $15,001 - $50,000 in shares of Pfizer NYSE: PFE on 4/8/2025.
• Sold $1,001 - $15,000 in shares of QUALCOMM NASDAQ: QCOM on 4/8/2025.

Newmont Stock Up 2.1%

Shares of NYSE NEM traded up $1.10 during trading hours on Friday, hitting $53.93. The stock had a trading volume of 8,139,058 shares, compared to its average volume of 9,908,671. The company has a market capitalization of $60.02 billion, a P/E ratio of 18.41, a P/E/G ratio of 0.41 and a beta of 0.31. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The firm's 50-day moving average price is $49.69 and its two-hundred day moving average price is $44.88. Newmont Co. has a 52 week low of $36.86 and a 52 week high of $58.72.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.54. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The company had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period in the previous year, the company earned $0.55 earnings per share. Analysts anticipate that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, May 27th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.85%. Newmont's payout ratio is 22.42%.

Insider Activity

In other news, Director Bruce R. Brook sold 2,077 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $51.48, for a total transaction of $106,923.96. Following the completion of the transaction, the director now owns 47,257 shares of the company's stock, valued at approximately $2,432,790.36. The trade was a 4.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total value of $131,130.00. Following the transaction, the executive vice president now directly owns 86,526 shares of the company's stock, valued at $3,782,051.46. This trade represents a 3.35% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,154 shares of company stock worth $328,840. 0.05% of the stock is currently owned by company insiders.

Institutional Trading of Newmont

Institutional investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its stake in Newmont by 173.0% in the 4th quarter. Nordea Investment Management AB now owns 2,491,126 shares of the basic materials company's stock valued at $92,832,000 after purchasing an additional 1,578,545 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Newmont by 57.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,379,901 shares of the basic materials company's stock valued at $88,580,000 after acquiring an additional 865,213 shares during the period. Brookstone Capital Management bought a new stake in shares of Newmont during the 4th quarter valued at $245,000. Moody National Bank Trust Division lifted its position in shares of Newmont by 13.6% during the 4th quarter. Moody National Bank Trust Division now owns 22,079 shares of the basic materials company's stock valued at $822,000 after acquiring an additional 2,645 shares during the period. Finally, Avanza Fonder AB bought a new stake in shares of Newmont during the 4th quarter valued at $4,269,000. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NEM. Cfra Research upgraded Newmont to a "strong-buy" rating in a research note on Friday, April 25th. Argus set a $63.00 target price on Newmont in a report on Friday, April 25th. The Goldman Sachs Group started coverage on Newmont in a report on Monday, January 13th. They issued a "buy" rating and a $47.20 price target on the stock. UBS Group raised Newmont from a "neutral" rating to a "buy" rating and increased their target price for the company from $50.00 to $60.00 in a research note on Friday, April 11th. Finally, TD Securities dropped their price target on Newmont from $46.00 to $45.00 and set a "hold" rating on the stock in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $55.63.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania's 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania's 8th Congressional District. He declared candidacy for the 2026 election. Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.