Mcguire Capital Advisors Inc. Takes Position in Newmont Corporation $NEM

Mcguire Capital Advisors Inc. purchased a new stake in Newmont Corporation (NYSE:NEM) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,410 shares of the basic materials company’s stock, valued at approximately $540,000.

Other institutional investors have also recently added to or reduced their stakes in the company. GoalVest Advisory LLC acquired a new position in shares of Newmont during the 4th quarter valued at about $25,000. Swiss RE Ltd. acquired a new stake in Newmont during the fourth quarter worth about $26,000. Cornerstone Planning Group LLC raised its stake in Newmont by 312.1% during the fourth 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 during the period. Lodestone Wealth Management LLC purchased a new position in Newmont during the fourth quarter worth about $28,000. Finally, Laurel Wealth Advisors LLC acquired a new position in Newmont in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the firm’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 $315,960.00. Following the sale, the executive vice president owned 46,315 shares of the company’s stock, valued at $4,877,895.80. This trade represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 Newmont stock in a transaction that occurred 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 transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last quarter, insiders have sold 28,556 shares of company stock worth $3,120,276. 0.06% of the stock is owned by corporate insiders.

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Several recent reports remain constructive on Newmont’s longer-term outlook, including coverage highlighting the company as a key name in gold mining and analyst commentary pointing to meaningful upside versus current levels. Why Newmont Remains a Key Name In Gold Mining?
• Positive Sentiment: Zacks Research upgraded Newmont from “hold” to “strong-buy,” while another Zacks piece said the stock could have about 30% upside based on Wall Street price targets, reinforcing bullish analyst sentiment. Does Newmont (NEM) Have the Potential to Rally 30.14% as Wall Street Analysts Expect?
• Neutral Sentiment: Newmont announced a management refresh, including new CFO, COO, and technical chief appointments effective July 1. This could support execution over time, but near-term investors may be waiting to see how the new team performs. Newmont (NEM) Appoints New CFO COO And Technical Chief Under Natascha Viljoen
• Negative Sentiment: BNP Paribas Exane cut its price target on Newmont from $128 to $111 and kept a “neutral” rating, which may be weighing on sentiment despite the target still sitting above the current share price. BNP Paribas Exane adjusts price target on Newmont to 111 from 128, maintains neutral rating
• Negative Sentiment: Recent trading commentary noted that Newmont fell even as the broader market moved higher, suggesting investors are taking profits or reacting cautiously after a strong run in the stock. Newmont Corporation (NEM) Stock Falls Amid Market Uptick: What Investors Need to Know

Analyst Upgrades and Downgrades

NEM has been the subject of several analyst reports. BNP Paribas Exane dropped their price target on shares of Newmont from $128.00 to $111.00 and set a “neutral” rating for the company in a research note on Thursday. The Goldman Sachs Group decreased their price objective on Newmont from $125.10 to $122.50 and set a “buy” rating on the stock in a report on Thursday, June 4th. Weiss Ratings lowered Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Macquarie Infrastructure cut their target price on Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Jefferies Financial Group lifted their target price on Newmont from $154.00 to $158.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Three investment 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. According to data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and an average price target of $140.98.

Newmont Price Performance

Newmont stock opened at $103.86 on Friday. The firm has a market cap of $110.88 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 1.75 and a beta of 0.42. Newmont Corporation has a 52-week low of $55.37 and a 52-week 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. The company’s 50 day moving average is $110.31 and its two-hundred day moving average is $110.61.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 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 business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The company’s quarterly revenue was up 45.8% compared to the same quarter last year. On average, research analysts expect that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is presently 13.49%.

Newmont 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.