Private Advisor Group LLC Sells 9,831 Shares of Newmont Corporation $NEM

Private Advisor Group LLC decreased its holdings in shares of Newmont Corporation (NYSE:NEM) by 17.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,057 shares of the basic materials company’s stock after selling 9,831 shares during the quarter. Private Advisor Group LLC’s holdings in Newmont were worth $4,877,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NEM. Leonteq Securities AG lifted its holdings in shares of Newmont by 9.8% in the 1st quarter. Leonteq Securities AG now owns 99,208 shares of the basic materials company’s stock valued at $10,739,000 after acquiring an additional 8,889 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new stake in Newmont during the first quarter valued at approximately $12,438,000. Elevation Point Wealth Partners LLC lifted its stake in shares of Newmont by 212.5% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 11,200 shares of the basic materials company’s stock valued at $1,212,000 after purchasing an additional 7,616 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. boosted its holdings in shares of Newmont by 22.4% in the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 268,416 shares of the basic materials company’s stock worth $29,056,000 after purchasing an additional 49,153 shares during the period. Finally, Peregrine Asset Advisers Inc. boosted its holdings in shares of Newmont by 5.2% in the 1st quarter. Peregrine Asset Advisers Inc. now owns 7,073 shares of the basic materials company’s stock worth $766,000 after purchasing an additional 350 shares during the period. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Newmont

In other Newmont news, insider David John Thornton sold 2,296 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $252,812.56. Following the transaction, the insider directly owned 23,163 shares in the company, valued at $2,550,477.93. This represents a 9.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 Wexler sold 13,378 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the transaction, the executive vice president directly owned 67,865 shares in the company, valued at $7,472,615.15. This trade represents a 16.47% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 28,556 shares of company stock worth $3,058,146 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Newmont Price Performance

Newmont stock opened at $94.95 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The stock has a market cap of $101.36 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 1.63 and a beta of 0.46. The firm has a 50-day moving average of $105.35 and a two-hundred day moving average of $110.83. Newmont Corporation has a 1 year low of $55.37 and a 1 year high of $134.88.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. The business 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 company’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same period last year, the company posted $1.25 earnings per share. On average, research analysts forecast that Newmont Corporation will post 9.87 earnings per share for the current year.

Newmont Announces Dividend

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

Analysts Set New Price Targets

NEM has been the topic of several recent research reports. The Goldman Sachs Group decreased their price target on Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Zacks Research raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 15th. TD Securities restated a “hold” rating and issued a $129.00 target price on shares of Newmont in a report on Monday, April 27th. Raymond James Financial cut their price target on shares of Newmont from $139.00 to $137.00 and set an “outperform” rating on the stock in a report on Tuesday, June 30th. Finally, TD increased their price objective on shares of Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $138.78.

Newmont News Roundup

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Jefferies reiterated a Buy rating on Newmont and still sees upside even after trimming its price target to $146, which supports the stock’s long-term valuation case. Benzinga source
• Positive Sentiment: Recent coverage highlighted Newmont as a leader among gold stocks, with commentary pointing to higher gold prices as a potential driver of earnings and share performance. Article title
• Positive Sentiment: Analyst and market recaps note Newmont’s strong operating profile, including a recent earnings beat and continued investor interest in the gold miner. Article title

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.