Newmont Corporation $NEM Shares Sold by Barings LLC

Barings LLC lowered its stake in shares of Newmont Corporation (NYSE:NEM) by 28.1% in the first quarter, HoldingsChannel.com reports. The firm owned 101,437 shares of the basic materials company’s stock after selling 39,691 shares during the period. Barings LLC’s holdings in Newmont were worth $10,981,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Apella Capital LLC lifted its stake in Newmont by 4.1% during the fourth quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock worth $219,000 after purchasing an additional 86 shares in the last quarter. New Wave Wealth Advisors LLC boosted 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 buying an additional 88 shares during the period. Novem Group grew its stake in shares of Newmont by 3.7% in the fourth quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock valued at $248,000 after buying an additional 88 shares in the last quarter. Norden Group LLC grew its stake in shares of Newmont by 0.7% in the fourth quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock valued at $1,235,000 after buying an additional 90 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Newmont by 1.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock valued at $714,000 after buying an additional 96 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Trading Down 4.6%

NEM opened at $90.83 on Friday. The business has a fifty day moving average price of $102.85 and a 200 day moving average price of $110.35. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. Newmont Corporation has a 12 month low of $56.73 and a 12 month high of $134.88. The stock has a market capitalization of $96.96 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 1.08 and a beta of 0.46.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating 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 firm had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter last year, the company earned $1.25 earnings per share. The firm’s revenue was up 45.8% compared to the same quarter last year. Sell-side analysts expect that Newmont Corporation will post 9.32 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is presently 13.49%.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $92.38, for a total value of $277,140.00. Following the sale, the executive vice president directly owned 43,315 shares in the company, valued at $4,001,439.70. This trade represents a 6.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of Newmont stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $1,473,051.58. Following the sale, the executive vice president directly owned 67,865 shares of the company’s stock, valued at $7,472,615.15. This trade represents a 16.47% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 28,556 shares of company stock valued at $3,058,146 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on NEM shares. The Goldman Sachs Group lowered their target price on Newmont from $122.50 to $111.40 and set a “buy” rating for the company in a report on Wednesday, July 1st. Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Barclays reduced their price target on shares of Newmont from $133.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday. TD raised shares of Newmont from a “hold” rating to a “buy” rating and lowered their price objective for the company from $129.00 to $127.00 in a research note on Tuesday. Finally, Canaccord Genuity Group lifted their price objective on shares of Newmont from $150.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $136.26.

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Negative Sentiment: Zacks Research downgraded Newmont from “strong-buy” to “hold,” adding to near-term pressure on the stock. Newmont was downgraded by Zacks Research from “strong-buy” to “hold”.
• Negative Sentiment: Investors are also worried about the upcoming quarterly report, as coverage notes Newmont may not have the setup for an earnings beat even though EPS is expected to grow. Newmont Corporation (NEM) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Neutral Sentiment: Newmont resumed operations at its Cadia mine after a seismic event, and management said inspections found no injuries or damage. That removes an operational overhang, but the company still faces higher costs and softer gold prices. Newmont (NEM) Resumes Cadia Operations As It Pushes Ahead With Key Growth Projects
• Positive Sentiment: Several analysts remain constructive, with reports pointing to improved operational efficiency, growing free cash flow, and share buybacks as Newmont works through Newcrest integration. Did Analyst Upgrades and Buybacks Just Shift Newmont’s (NEM) Operational Efficiency Investment Narrative?
• Positive Sentiment: Some analysts also argued Newmont looks undervalued, citing permits that could unlock major copper-gold resources and support a production rebound. Newmont: The Permits That Set The Stage For A Re-Rating

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.