Blue Capital Inc. Sells 39,041 Shares of Newmont Corporation $NEM

Blue Capital Inc. reduced its position in Newmont Corporation (NYSE:NEM) by 55.7% in the 4th quarter, Holdings Channel reports. The fund owned 31,054 shares of the basic materials company’s stock after selling 39,041 shares during the period. Newmont makes up about 2.2% of Blue Capital Inc.’s investment portfolio, making the stock its 10th biggest position. Blue Capital Inc.’s holdings in Newmont were worth $3,101,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Apella Capital LLC boosted its holdings in shares of 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 during the last quarter. New Wave Wealth Advisors LLC increased its stake in Newmont by 1.3% in the fourth quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock valued at $684,000 after purchasing an additional 88 shares during the last quarter. Novem Group increased its stake in 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 purchasing an additional 88 shares during the last quarter. Norden Group LLC lifted its position in Newmont by 0.7% during the fourth quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock worth $1,235,000 after buying an additional 90 shares during the period. Finally, Parkside Financial Bank & Trust lifted its position in Newmont by 1.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock worth $714,000 after buying an additional 96 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Price Performance

Shares of Newmont stock opened at $103.86 on Friday. Newmont Corporation has a twelve month low of $55.37 and a twelve month high of $134.88. The stock has a market capitalization of $110.88 billion, a P/E ratio of 13.47, a PEG ratio of 1.75 and a beta of 0.42. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The business’s fifty day moving average price is $110.31 and its 200 day moving average price is $110.61.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. The firm 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 firm’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.25 earnings per share. As a group, research analysts anticipate that Newmont Corporation will post 9.91 earnings per share for the current year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders 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 dividend yield of 1.0%. Newmont’s payout ratio is presently 13.49%.

Analysts Set New Price Targets

NEM has been the subject of several recent analyst reports. Wall Street Zen cut Newmont from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. TD Cowen reaffirmed a “buy” rating on shares of Newmont in a research note on Monday, April 27th. Canadian Imperial Bank of Commerce set a $175.00 price objective on shares of Newmont and gave the stock an “outperform” rating in a report on Monday, June 1st. BMO Capital Markets raised their target price on shares of Newmont from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Finally, Jefferies Financial Group boosted their target price on shares of Newmont from $154.00 to $158.00 and gave the company a “buy” rating in a report on Monday, June 8th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average target price of $140.98.

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

Insider Transactions at Newmont

In other Newmont news, 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 transaction, the executive vice president directly owned 46,315 shares of the company’s stock, valued at $4,877,895.80. The trade was a 6.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the sale, the chief executive officer owned 142,999 shares of the company’s stock, valued at approximately $15,060,654.68. This represents a 2.64% 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 have sold a total of 28,556 shares of company stock worth $3,120,276 over the last 90 days. Company insiders own 0.06% of the company’s stock.

About Newmont

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.