SG Trading Solutions LLC Purchases New Position in Newmont Corporation $NEM

SG Trading Solutions LLC purchased a new position in Newmont Corporation (NYSE:NEM) in the 4th quarter, HoldingsChannel reports. The firm purchased 16,784 shares of the basic materials company’s stock, valued at approximately $1,676,000.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Newmont by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company’s stock worth $13,390,613,000 after purchasing an additional 637,996 shares during the period. State Street Corp raised its holdings in Newmont by 1.0% during the 4th quarter. State Street Corp now owns 49,959,850 shares of the basic materials company’s stock valued at $4,988,491,000 after buying an additional 480,223 shares during the period. Van ECK Associates Corp raised its holdings in Newmont by 23.4% during the 4th 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 buying an additional 5,643,496 shares during the period. Geode Capital Management LLC lifted its position in Newmont by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company’s stock worth $2,738,756,000 after buying an additional 946,824 shares during the last quarter. Finally, Norges Bank purchased a new position in Newmont during the fourth quarter worth $1,443,128,000. 68.85% of the stock is owned by institutional investors.

Newmont News Summary

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Several recent reports remain constructive on Newmont’s longer-term outlook, including coverage highlighting the company as a key name in gold mining and analyst commentary pointing to meaningful upside versus current levels. Why Newmont Remains a Key Name In Gold Mining?
• Positive Sentiment: Zacks Research upgraded Newmont from “hold” to “strong-buy,” while another Zacks piece said the stock could have about 30% upside based on Wall Street price targets, reinforcing bullish analyst sentiment. Does Newmont (NEM) Have the Potential to Rally 30.14% as Wall Street Analysts Expect?
• Neutral Sentiment: Newmont announced a management refresh, including new CFO, COO, and technical chief appointments effective July 1. This could support execution over time, but near-term investors may be waiting to see how the new team performs. Newmont (NEM) Appoints New CFO COO And Technical Chief Under Natascha Viljoen
• Negative Sentiment: BNP Paribas Exane cut its price target on Newmont from $128 to $111 and kept a “neutral” rating, which may be weighing on sentiment despite the target still sitting above the current share price. BNP Paribas Exane adjusts price target on Newmont to 111 from 128, maintains neutral rating
• Negative Sentiment: Recent trading commentary noted that Newmont fell even as the broader market moved higher, suggesting investors are taking profits or reacting cautiously after a strong run in the stock. Newmont Corporation (NEM) Stock Falls Amid Market Uptick: What Investors Need to Know

Analysts Set New Price Targets

NEM has been the topic of a number of analyst reports. Canaccord Genuity Group boosted their price objective on shares of Newmont from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. National Bank Financial raised their target price on shares of Newmont from $130.00 to $140.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. Royal Bank Of Canada dropped their price target on shares of Newmont from $160.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. Sanford C. Bernstein upgraded shares of Newmont from a “market perform” rating to an “outperform” rating and upped their price target for the company from $121.00 to $157.00 in a report on Friday, February 27th. Finally, TD Securities reissued a “hold” rating and issued a $129.00 price objective on shares of Newmont in a research report on Monday, April 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and a consensus target price of $140.98.

Insider Activity at Newmont

In other news, EVP Peter Wexler sold 13,378 shares of the firm’s 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 $1,473,051.58. Following the transaction, the executive vice president directly owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. This trade represents a 16.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 Newmont stock in a transaction that occurred 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 sale, the executive vice president directly owned 46,315 shares of the company’s stock, valued at $4,877,895.80. This represents a 6.08% decrease in their position. 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. Over the last 90 days, insiders have sold 28,556 shares of company stock worth $3,120,276. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of Newmont stock opened at $103.86 on Friday. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The stock’s fifty day moving average is $110.31 and its two-hundred day moving average is $110.61. Newmont Corporation has a 52 week low of $55.37 and a 52 week high of $134.88. The company has a market capitalization of $110.88 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 1.75 and a beta of 0.42.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.83. The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period last year, the company earned $1.25 earnings per share. As a group, analysts expect that Newmont Corporation will post 9.91 earnings per share for the current year.

Newmont Dividend Announcement

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

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.