World Investment Advisors Acquires 14,418 Shares of Newmont Corporation $NEM

World Investment Advisors raised its holdings in shares of Newmont Corporation (NYSE:NEM) by 298.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 19,255 shares of the basic materials company’s stock after purchasing an additional 14,418 shares during the period. World Investment Advisors’ holdings in Newmont were worth $1,923,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. GoalVest Advisory LLC purchased a new position in Newmont during the fourth quarter valued at approximately $25,000. Swiss RE Ltd. bought a new position in Newmont in the fourth quarter worth approximately $26,000. Cornerstone Planning Group LLC lifted its holdings in Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after buying an additional 206 shares during the period. JPL Wealth Management LLC purchased a new stake in Newmont during the third quarter worth $27,000. Finally, Lodestone Wealth Management LLC bought a new stake in Newmont during the 4th quarter valued at $28,000. Institutional investors own 68.85% of the company’s stock.

More Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont received major regulatory approvals from British Columbia for its Red Chris Block Cave project, a key milestone that supports a transition from open-pit mining to block caving and extends the mine life into the mid-2040s. The approval improves visibility on future production and could support the stock by advancing Newmont toward a final investment decision later this year. Article Title
• Positive Sentiment: Newmont continues to be viewed as a core name in gold mining, and broader strength in gold/mining shares may be helping sentiment around the stock. This can provide support even when company-specific news is limited. Article Title
• Neutral Sentiment: BNP Paribas Exane lowered its price target on Newmont to $111 from $128 while keeping a neutral rating. That is still above the current share price, but the cut may temper near-term enthusiasm. Article Title
• Negative Sentiment: Reports say Newmont’s Cadia mine was halted after an earthquake, raising concerns about temporary production disruption. Any prolonged shutdown could weigh on output and sentiment until Newmont clarifies the impact. Article Title

Analyst Ratings Changes

A number of research analysts have recently issued reports on NEM shares. TD Cowen reiterated a “buy” rating on shares of Newmont in a report on Monday, April 27th. Jefferies Financial Group upped their price objective on Newmont from $154.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Bank of America raised their price objective on Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. The Goldman Sachs Group cut their target price on Newmont from $125.10 to $122.50 and set a “buy” rating on the stock in a research note on Thursday, June 4th. Finally, BNP Paribas Exane reduced their target price on shares of Newmont from $128.00 to $111.00 and set a “neutral” rating for the company in a report on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Newmont has an average rating of “Moderate Buy” and a consensus price target of $140.98.

Insiders Place Their Bets

In other Newmont news, EVP Peter Wexler sold 13,378 shares of the firm’s 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 completion of the sale, the executive vice president 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 Securities & Exchange Commission, which can be accessed through the SEC website. 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, CEO Natascha Viljoen sold 3,882 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 value of $408,852.24. Following the sale, the chief executive officer owned 142,999 shares in the company, valued at $15,060,654.68. The trade was a 2.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 28,556 shares of company stock valued at $3,120,276. 0.06% of the stock is owned by corporate insiders.

Newmont Price Performance

NYSE NEM opened at $103.86 on Friday. The firm’s fifty day simple moving average is $110.02 and its two-hundred day simple moving average is $110.56. The firm has a market capitalization of $110.88 billion, a P/E ratio of 13.47, a P/E/G ratio of 1.72 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. Newmont Corporation has a 12-month low of $55.37 and a 12-month high of $134.88.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.07 by $0.83. The firm had revenue of $7.31 billion during 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 for the quarter was up 45.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.25 EPS. Analysts forecast that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be paid a $0.26 dividend. 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 13.49%.

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.