Siemens Fonds Invest GmbH Acquires 16,298 Shares of Newmont Corporation $NEM

Siemens Fonds Invest GmbH increased its holdings in shares of Newmont Corporation (NYSE:NEM) by 52.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,624 shares of the basic materials company’s stock after acquiring an additional 16,298 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in Newmont were worth $4,851,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. ExodusPoint Capital Management LP increased its position in Newmont by 8.9% during the fourth quarter. ExodusPoint Capital Management LP now owns 137,484 shares of the basic materials company’s stock worth $13,728,000 after acquiring an additional 11,231 shares during the period. Fullerton Fund Management Co Ltd. bought a new position in Newmont during the fourth quarter worth about $389,000. Rothschild Wealth LLC bought a new position in Newmont in the 4th quarter valued at about $1,972,000. Oddo BHF Asset Management Sas bought a new position in Newmont in the 4th quarter valued at about $12,852,000. Finally, Rakuten Investment Management Inc. raised its position in shares of Newmont by 677.8% in the 4th quarter. Rakuten Investment Management Inc. now owns 143,860 shares of the basic materials company’s stock valued at $14,359,000 after buying an additional 125,364 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NEM. TD Cowen reaffirmed a “buy” rating on shares of Newmont in a report on Monday, April 27th. Sanford C. Bernstein raised shares of Newmont from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $121.00 to $157.00 in a report on Friday, February 27th. Bank of America upped their price target on shares of Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. BNP Paribas Exane upped their price target on shares of Newmont from $123.00 to $128.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. Finally, TD Securities reaffirmed a “hold” rating and set a $129.00 price target on shares of Newmont in a report on Monday, April 27th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.79.

Newmont Trading Up 2.5%

NEM opened at $108.46 on Wednesday. The company has a market cap of $115.79 billion, a P/E ratio of 14.07, a PEG ratio of 1.75 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. The company’s 50 day moving average is $110.66 and its 200-day moving average is $110.41. Newmont Corporation has a 1-year low of $55.37 and a 1-year high of $134.88.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.83. The company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The firm’s revenue was up 45.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.25 EPS. Equities research analysts predict that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. Newmont’s payout ratio is 13.49%.

Trending Headlines about Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont announced key executive appointments, naming veteran insiders to the CFO, COO, and CTO roles starting July 1. Investors often view management continuity and promoting experienced leaders as a sign of operational stability and smoother execution. Newmont Announces Key Executive Appointments for the Next Phase of Delivery
• Positive Sentiment: Several recent commentaries highlighted Newmont as a value idea and a Zacks Rank #1 stock, which can boost investor interest and reinforce the bullish case for the shares. Best Value Stocks to Buy for June 16th
• Positive Sentiment: Gold-price optimism is helping sentiment around Newmont, with reports suggesting the recent gold pullback may be more of a reset than a trend reversal. As one of the largest gold miners, Newmont tends to benefit when investors expect gold to rebound. Gold’s Correction Looks More Like a Reset. Newmont and These 4 Stocks Are Buys.
• Neutral Sentiment: Analyst and media coverage continues to keep Newmont in focus, including pieces on whether the stock remains attractive versus peers like Agnico Eagle Mines. This keeps attention high, but does not by itself change fundamentals. NEM or AEM: Which Is the Better Value Stock Right Now?
• Negative Sentiment: One note of caution is that Macquarie trimmed its price target on Newmont, even while keeping an outperform rating. That kind of revision can temper enthusiasm if investors worry about near-term upside. Macquarie adjusts price target on Newmont

Insider Activity at Newmont

In related news, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $252,812.56. Following the sale, the insider directly owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. The trade was a 9.02% decrease in their position. The sale was disclosed in a document filed 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, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $408,852.24. Following the sale, the chief executive officer directly owned 142,999 shares in the company, valued at $15,060,654.68. This trade represents a 2.64% 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 90 days, insiders sold 28,556 shares of company stock valued at $3,120,276. Company insiders own 0.06% of the company’s stock.

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.