Munich Reinsurance Co Stock Corp in Munich Boosts Stake in Newmont Corporation $NEM

Munich Reinsurance Co Stock Corp in Munich lifted its position in Newmont Corporation (NYSE:NEM) by 727.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 95,067 shares of the basic materials company’s stock after purchasing an additional 83,576 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich’s holdings in Newmont were worth $10,291,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in NEM. GoalVest Advisory LLC purchased a new stake in Newmont in the fourth quarter valued at approximately $25,000. Pinnacle Bancorp Inc. purchased a new position in shares of Newmont during the first quarter worth approximately $25,000. Swiss RE Ltd. acquired a new position in shares of Newmont in the 4th quarter valued at $26,000. Cornerstone Planning Group LLC increased its holdings in shares of Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 206 shares during the period. Finally, JPL Wealth Management LLC purchased a new stake in Newmont in the 3rd quarter valued at $27,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont News Roundup

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont could benefit if gold’s recent rebound continues, since the company’s earnings are closely tied to precious-metals prices and improved gold momentum typically supports the stock. Can Newmont (NYSE:NEM) Ride Gold’s Rebound?
• Positive Sentiment: Recent coverage says Newmont is gaining as gold momentum builds, reinforcing the view that stronger bullion prices could boost revenue and margins for the miner. Newmont (NYSE:NEM) Gains As Gold Momentum Builds Today
• Positive Sentiment: Newmont welcomed Canada’s CA$500 million funding for the Red Chris Block Cave project, which strengthens the economics of a major development asset and supports longer-term growth prospects. Newmont (NEM) Welcomes Canada Funding for Red Chris
• Positive Sentiment: Jefferies reiterated a Buy stance on Newmont and assigned a new $146 price target, indicating analysts still see meaningful upside from current levels. Newmont (NYSE:NEM) Given New $146.00 Price Target at Jefferies Financial Group
• Neutral Sentiment: Newmont recently outperformed the broader market in a prior session, showing that investor interest in the gold miner remains strong even amid volatility. Newmont Corporation (NEM) Exceeds Market Returns: Some Facts to Consider
• Negative Sentiment: EVP Peter Toth sold 3,000 shares under a pre-arranged trading plan, which can still pressure sentiment because insider selling is often viewed cautiously by investors. Newmont (NYSE:NEM) EVP Peter Toth Sells 3,000 Shares of Stock
• Negative Sentiment: Some recent commentary argues Newmont remains overvalued on a fundamental basis, and GF Value said the shares are still above fair value, which may weigh on buyer enthusiasm. Newmont Corp (NEM) Shares Fall 3.2% — GF Value Says Still Overvalued

Insiders Place Their Bets

In other Newmont news, insider David John Thornton sold 2,296 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was 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 of the company’s stock, valued at approximately $2,550,477.93. This trade represents a 9.02% decrease in their ownership of the stock. The transaction 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, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $92.38, for a total transaction of $277,140.00. Following the sale, the executive vice president owned 43,315 shares in the company, valued at $4,001,439.70. The trade was a 6.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 28,556 shares of company stock worth $3,058,146. 0.06% of the stock is owned by insiders.

Newmont Price Performance

Shares of NYSE:NEM opened at $93.20 on Thursday. 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 company has a market cap of $99.50 billion, a P/E ratio of 12.09, a PEG ratio of 1.58 and a beta of 0.46. Newmont Corporation has a 52 week low of $55.37 and a 52 week high of $134.88. The company has a 50-day moving average price of $104.89 and a 200 day moving average price of $110.79.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.83. The company had revenue of $7.31 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 EPS. Research analysts predict that Newmont Corporation will post 9.87 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Wednesday, May 27th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, May 27th. Newmont’s dividend payout ratio is currently 13.49%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on NEM shares. UBS Group reduced their target price on shares of Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Canaccord Genuity Group boosted their price target on Newmont from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Argus upped their price objective on Newmont from $94.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. BMO Capital Markets decreased their price objective on Newmont from $145.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday, June 23rd. Finally, Jefferies Financial Group lowered their target price on Newmont from $158.00 to $146.00 and set a “buy” rating on the stock in a research note on Monday. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.78.

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.