Newmont Corporation $NEM Shares Sold by Financiere des Professionnels Fonds d investissement inc.

Financiere des Professionnels Fonds d investissement inc. trimmed its holdings in shares of Newmont Corporation (NYSE:NEM) by 15.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 62,749 shares of the basic materials company’s stock after selling 11,451 shares during the period. Financiere des Professionnels Fonds d investissement inc.’s holdings in Newmont were worth $6,793,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in NEM. CWM LLC boosted its holdings in shares of Newmont by 64.6% in the fourth quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock worth $20,259,000 after buying an additional 79,617 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Newmont by 24.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock valued at $30,775,000 after acquiring an additional 54,530 shares during the period. Leonteq Securities AG purchased a new stake in shares of Newmont in the 4th quarter valued at approximately $9,018,000. ARS Investment Partners LLC lifted its position in shares of Newmont by 3.6% in the 4th quarter. ARS Investment Partners LLC now owns 697,063 shares of the basic materials company’s stock valued at $69,602,000 after acquiring an additional 23,900 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its stake in Newmont by 67.0% in the 4th quarter. Ritholtz Wealth Management now owns 40,754 shares of the basic materials company’s stock worth $4,069,000 after purchasing an additional 16,352 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Down 4.6%

NEM stock opened at $90.83 on Friday. The company has a 50 day moving average of $102.85 and a two-hundred day moving average of $110.35. The company has a market cap of $96.96 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 1.08 and a beta of 0.46. Newmont Corporation has a 12-month low of $56.73 and a 12-month 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 results 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. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The business had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $6.83 billion. During the same period in the previous year, the company posted $1.25 EPS. Newmont’s revenue was up 45.8% on a year-over-year basis. On average, equities analysts anticipate that Newmont Corporation will post 9.32 earnings per share for the current fiscal 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. This represents a $1.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Wednesday, May 27th. Newmont’s payout ratio is currently 13.49%.

More Newmont News

Here are the key news stories impacting Newmont this week:

• Negative Sentiment: Zacks Research downgraded Newmont from “strong-buy” to “hold,” adding to near-term pressure on the stock. Newmont was downgraded by Zacks Research from “strong-buy” to “hold”.
• Negative Sentiment: Investors are also worried about the upcoming quarterly report, as coverage notes Newmont may not have the setup for an earnings beat even though EPS is expected to grow. Newmont Corporation (NEM) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Neutral Sentiment: Newmont resumed operations at its Cadia mine after a seismic event, and management said inspections found no injuries or damage. That removes an operational overhang, but the company still faces higher costs and softer gold prices. Newmont (NEM) Resumes Cadia Operations As It Pushes Ahead With Key Growth Projects
• Positive Sentiment: Several analysts remain constructive, with reports pointing to improved operational efficiency, growing free cash flow, and share buybacks as Newmont works through Newcrest integration. Did Analyst Upgrades and Buybacks Just Shift Newmont’s (NEM) Operational Efficiency Investment Narrative?
• Positive Sentiment: Some analysts also argued Newmont looks undervalued, citing permits that could unlock major copper-gold resources and support a production rebound. Newmont: The Permits That Set The Stage For A Re-Rating

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. TD upgraded shares of Newmont from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $129.00 to $127.00 in a research report on Tuesday. Bank of America reduced their target price on Newmont from $157.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, July 9th. The Goldman Sachs Group decreased their target price on Newmont from $122.50 to $111.40 and set a “buy” rating for the company in a research report on Wednesday, July 1st. BNP Paribas Exane dropped their price target on Newmont from $128.00 to $111.00 and set a “neutral” rating on the stock in a research report on Thursday, June 18th. Finally, Weiss Ratings downgraded Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $136.26.

Insider Buying and Selling at Newmont

In other Newmont news, CEO Natascha Viljoen sold 3,882 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $408,852.24. Following the completion of the sale, the chief executive officer directly owned 142,999 shares of the company’s stock, valued at $15,060,654.68. The trade was a 2.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $252,812.56. Following the completion of the sale, the insider owned 23,163 shares of the company’s stock, valued at $2,550,477.93. This represents a 9.02% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 28,556 shares of company stock valued at $3,058,146 over the last three months. 0.06% of the stock is owned by insiders.

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.