Banco Bilbao Vizcaya Argentaria S.A. Sells 8,308 Shares of Newmont Corporation $NEM

Banco Bilbao Vizcaya Argentaria S.A. lowered its holdings in shares of Newmont Corporation (NYSE:NEM) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,973 shares of the basic materials company’s stock after selling 8,308 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Newmont were worth $27,861,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GoalVest Advisory LLC bought a new position in shares of Newmont during the 4th quarter worth about $25,000. Swiss RE Ltd. bought a new stake in Newmont in the fourth quarter valued at about $26,000. Cornerstone Planning Group LLC raised its position in Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 206 shares in the last quarter. Lodestone Wealth Management LLC acquired a new position in Newmont in the fourth quarter worth about $28,000. Finally, Laurel Wealth Advisors LLC bought a new position in Newmont during the fourth quarter worth about $30,000. Institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada lowered their price objective on Newmont from $160.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 3rd. Sanford C. Bernstein upgraded Newmont from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $121.00 to $157.00 in a research report on Friday, February 27th. TD Cowen reiterated a “buy” rating on shares of Newmont in a research report on Monday, April 27th. Scotiabank dropped their price objective on Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a research note on Friday, March 20th. Finally, Citigroup lifted their price objective on Newmont from $118.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $141.79.

Newmont Stock Down 2.7%

NYSE NEM opened at $105.55 on Thursday. The stock’s 50 day simple moving average is $110.52 and its 200 day simple moving average is $110.51. Newmont Corporation has a one year low of $55.37 and a one year high of $134.88. The firm has a market cap of $112.68 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 1.80 and a beta of 0.42. 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 (NYSE:NEM) last posted its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. The company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business’s revenue was up 45.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 earnings per share. As a group, sell-side analysts forecast that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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

More Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Zacks upgraded Newmont from hold to strong-buy, reinforcing a more optimistic view on the stock’s near-term prospects.
• Positive Sentiment: Wall Street’s average price target implies about 30% upside, with analysts also pointing to rising earnings estimates as a supportive signal for the shares. Article: Does Newmont (NEM) Have the Potential to Rally 30.14% as Wall Street Analysts Expect?
• Positive Sentiment: Newmont announced a leadership reshuffle, naming new CFO, COO, and CTO appointments effective July 1, which investors may see as a move to sharpen execution under CEO Natascha Viljoen.
• Positive Sentiment: Several recent articles highlight Newmont as a value or buy idea and note that the company remains well positioned if gold prices rebound, which is supportive for a gold miner.
• Neutral Sentiment: Other coverage focused on comparison pieces and broad investor interest, but these are less likely to move the stock on their own.

Insider Activity at Newmont

In other Newmont news, insider David John Thornton sold 2,296 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the sale, the insider owned 23,163 shares in the company, valued at approximately $2,550,477.93. This trade represents a 9.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $315,960.00. Following the completion of the transaction, the executive vice president directly owned 46,315 shares of the company’s stock, valued at approximately $4,877,895.80. This represents a 6.08% decrease in their ownership of the stock. 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. Insiders sold 28,556 shares of company stock worth $3,120,276 in the last quarter. Insiders own 0.06% of the company’s stock.

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.