U S Global Investors Inc. Purchases Shares of 36,830 Newmont Corporation $NEM

U S Global Investors Inc. acquired a new position in Newmont Corporation (NYSE:NEM) in the 1st quarter, HoldingsChannel reports. The firm acquired 36,830 shares of the basic materials company’s stock, valued at approximately $3,987,000.

A number of other large investors have also recently made changes to their positions in the business. Cedar Mountain Advisors LLC bought a new position in shares of Newmont during the first quarter valued at approximately $25,000. Pinnacle Bancorp Inc. purchased a new position in Newmont during the 1st quarter valued at $25,000. GoalVest Advisory LLC purchased a new position in Newmont during the 4th quarter valued at $25,000. Swiss RE Ltd. bought a new position in Newmont in the 4th quarter worth $26,000. Finally, Cornerstone Planning Group LLC raised its holdings in Newmont by 312.1% in the 4th 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. 68.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Newmont

In related news, insider David John Thornton sold 2,296 shares of the company’s stock in a transaction that occurred 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 sale, the insider owned 23,163 shares in the company, valued at $2,550,477.93. This represents a 9.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $92.38, for a total value of $277,140.00. Following the transaction, the executive vice president directly owned 43,315 shares of the company’s stock, valued at approximately $4,001,439.70. This trade represents a 6.48% 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. Insiders have sold a total of 28,556 shares of company stock valued at $3,058,146 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. TD Cowen reaffirmed a “buy” rating on shares of Newmont in a research note on Monday, April 27th. Weiss Ratings lowered shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. Royal Bank Of Canada cut their price objective on Newmont from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Thursday. Barclays began coverage on Newmont in a report on Thursday, May 21st. They set an “overweight” rating and a $133.00 target price on the stock. Finally, UBS Group decreased their target price on Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average target price of $137.64.

Newmont News Roundup

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont welcomed the Government of Canada’s CA$500 million funding commitment for the Red Chris Block Cave project, a move that improves the economics of a key copper-gold development and could extend the mine’s life. Newmont (NEM) Welcomes Canada Funding for Red Chris
• Positive Sentiment: UBS and Macquarie both reiterated Buy ratings on Newmont, while Bank of America also kept a Buy rating even after cutting its price target to $132, signaling analysts still see upside from current levels. UBS Keeps Their Buy Rating on Newmont Corporation CHESS (NEM)
• Positive Sentiment: Articles highlighting Newmont as undervalued and benefiting from a rebound in gold prices suggest investor interest is rising as the precious-metals trade improves. Newmont (NEM) Stock Looks Cheap On Earnings While Cash Flow Looks Fair
• Positive Sentiment: Recent trading has shown Newmont outperforming the broader market, with coverage citing renewed momentum in the stock and in gold-related names. Newmont Corporation (NEM) Outperforms Broader Market: What You Need to Know
• Neutral Sentiment: One valuation piece said Newmont looks close to fair value around the low-$90s, which may limit near-term enthusiasm even though it doesn’t signal a major downside concern. Newmont (NEM) Stock Looks Cheap On Earnings While Cash Flow Looks Fair
• Negative Sentiment: Despite the recent bounce, Newmont has still been under pressure over the past few months, and Bank of America’s price-target cut reflects some caution about the stock’s longer-term upside. Bank of America price target update on Newmont

Newmont Stock Up 0.5%

Shares of NYSE:NEM traded up $0.49 during midday trading on Friday, reaching $95.30. The company’s stock had a trading volume of 4,426,083 shares, compared to its average volume of 8,174,271. The firm has a 50 day moving average of $104.35 and a 200-day moving average of $110.63. The firm has a market capitalization of $101.74 billion, a P/E ratio of 12.36, a PEG ratio of 1.07 and a beta of 0.46. The company has a quick ratio of 2.17, a current ratio of 2.44 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 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. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same period last year, the business earned $1.25 EPS. Newmont’s quarterly revenue was up 45.8% compared to the same quarter last year. On average, research analysts anticipate that Newmont Corporation will post 9.42 earnings per share for the current year.

Newmont Dividend Announcement

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

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.