Newmont Corporation $NEM Stock Position Trimmed by Live Oak Private Wealth LLC

Live Oak Private Wealth LLC trimmed its position in shares of Newmont Corporation (NYSE:NEM) by 14.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 123,029 shares of the basic materials company’s stock after selling 20,775 shares during the period. Newmont accounts for approximately 1.9% of Live Oak Private Wealth LLC’s holdings, making the stock its 14th biggest position. Live Oak Private Wealth LLC’s holdings in Newmont were worth $13,318,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NEM shares. Bank of America increased their price target on Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Argus upped their price objective on Newmont from $94.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. TD Cowen reaffirmed a “buy” rating on shares of Newmont in a research note on Monday, April 27th. Citigroup lifted their target price on Newmont from $118.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Finally, Canaccord Genuity Group boosted their price target on shares of Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Three 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $140.50.

Newmont Trading Down 4.2%

NYSE:NEM opened at $93.75 on Thursday. The stock has a fifty day simple moving average of $108.76 and a 200 day simple moving average of $110.85. The firm has a market capitalization of $100.08 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 1.62 and a beta of 0.42. Newmont Corporation has a 1-year low of $55.37 and a 1-year high of $134.88. 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 (NYSE:NEM) last posted its quarterly earnings data 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 return on equity of 27.84% and a net margin of 33.87%.The firm had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter in the previous year, the company earned $1.25 EPS. The business’s revenue for the quarter was up 45.8% compared to the same quarter last year. Sell-side analysts forecast that Newmont Corporation will post 9.91 earnings per share for the current year.

Newmont Dividend Announcement

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

Insider Activity

In other Newmont news, EVP Peter Wexler sold 13,378 shares of Newmont stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the transaction, the executive vice president owned 67,865 shares of the company’s stock, valued at $7,472,615.15. The trade was a 16.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 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 $315,960.00. Following the completion of the sale, the executive vice president owned 46,315 shares of the company’s stock, valued at approximately $4,877,895.80. The trade was a 6.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 28,556 shares of company stock worth $3,120,276 over the last three months. 0.06% of the stock is owned by insiders.

Key Headlines Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont received key regulatory approvals for its Red Chris Block Cave project in British Columbia, allowing a transition to block caving and extending the mine’s life into the 2040s. The project is also expected to boost copper output in Canada, which supports longer-term production growth. Newmont Secures Red Chris Approval For A Copper Push Into The 2040s
• Positive Sentiment: BMO Capital Markets cut its price target to $135 from $145 but maintained an “outperform” rating, signaling analysts still see meaningful upside from current levels. BMO Capital Adjusts Price Target on Newmont
• Positive Sentiment: Newmont was included on a Zacks “Strong Buy” value-stocks list, which may reinforce investor interest in the name as a quality/value play. Best Value Stocks to Buy for June 23rd
• Neutral Sentiment: Coverage highlighted Newmont as a stock drawing S&P 500 attention and benefiting from strong gold prices, but these articles were more thematic than event-driven.
• Negative Sentiment: The stock has also been under pressure from a short-term pullback, with recent articles noting weaker trading momentum and a retreat from recent highs. Newmont Corporation (NEM) Dips More Than Broader Market: What You Should Know

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.