Rathbones Group PLC Acquires 24,722 Shares of Newmont Corporation $NEM

Rathbones Group PLC increased its holdings in Newmont Corporation (NYSE:NEM) by 27.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,801 shares of the basic materials company’s stock after purchasing an additional 24,722 shares during the period. Rathbones Group PLC’s holdings in Newmont were worth $11,363,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of NEM. Robeco Institutional Asset Management B.V. boosted its holdings in Newmont by 172.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock worth $362,888,000 after purchasing an additional 2,723,044 shares in the last quarter. Boston Partners boosted its holdings in Newmont by 49.3% in the third quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock worth $585,828,000 after purchasing an additional 2,288,653 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Newmont by 106.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 4,155,210 shares of the basic materials company’s stock worth $349,288,000 after purchasing an additional 2,146,905 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Newmont by 142.0% in the second quarter. Ameriprise Financial Inc. now owns 3,262,258 shares of the basic materials company’s stock worth $189,963,000 after purchasing an additional 1,914,286 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in Newmont by 120.1% in the third quarter. Los Angeles Capital Management LLC now owns 3,387,467 shares of the basic materials company’s stock worth $285,597,000 after purchasing an additional 1,848,659 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Down 1.2%

NEM stock opened at $112.67 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.02. Newmont Corporation has a 52-week low of $42.93 and a 52-week high of $134.88. The company has a 50-day moving average of $115.86 and a two-hundred day moving average of $101.91. The stock has a market capitalization of $121.68 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 0.88 and a beta of 0.46.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.71. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.18 billion. During the same period in the prior year, the company earned $1.40 earnings per share. The business’s quarterly revenue was up 20.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Tuesday, March 3rd were paid a $0.26 dividend. The ex-dividend date was Tuesday, March 3rd. This is a boost from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. Newmont’s dividend payout ratio is 16.28%.

Key Stories Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Majority of analysts rate NEM a “Buy” (22 analysts covered; 16 buys, 3 strong buys, 3 holds) — this provides structural analyst support for the stock. Newmont Corporation (NYSE:NEM) Given Average Rating of “Buy” by Brokerages
• Positive Sentiment: High-profile endorsement: Jim Cramer expressed a favorable view of Newmont and the case for owning gold/miners, which can attract retail flows. Jim Cramer Discusses Newmont Corporation and the Importance of Owning Gold
• Neutral Sentiment: Insider sale disclosed as a 10b5-1 planned trade (EVP Peter Toth sold 3,000 shares); planned-program sales are less informative about company prospects but can still pressure near-term supply. Newmont EVP Peter Toth Sells 3,000 Shares Under 10b5-1 Plan
• Negative Sentiment: Shares have underperformed several peers in recent trading sessions, indicating short-term relative weakness vs. the sector which may invite profit-taking or reallocation. Newmont Corp. stock underperforms Monday when compared to competitors
• Negative Sentiment: Recent headlines note a ~1.07% intraday decline amid a stronger market, signaling short-term selling pressure; separate filings also show an EVP sale (~$339k) that could amplify negative perception. Newmont Corporation (NEM) Stock Sinks As Market Gains: Here’s Why Newmont (NYSE:NEM) EVP Sells $339,270.00 in Stock

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $113.09, for a total value of $339,270.00. Following the completion of the sale, the executive vice president owned 52,315 shares in the company, valued at approximately $5,916,303.35. This trade represents a 5.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David James Fry sold 18,394 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the sale, the insider owned 17,147 shares of the company’s stock, valued at approximately $1,911,033.15. The trade was a 51.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 24,394 shares of company stock valued at $2,713,281. 0.05% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on NEM shares. Scotiabank decreased their price objective on shares of Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a report on Friday, March 20th. Royal Bank Of Canada upped their price target on shares of Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. National Bank Financial upped their price target on shares of Newmont from $120.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. The Goldman Sachs Group upped their price target on shares of Newmont from $99.90 to $123.90 and gave the company a “buy” rating in a report on Monday, January 12th. Finally, Zacks Research upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 5th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $133.78.

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.