NewEdge Advisors LLC Sells 12,928 Shares of Newmont Corporation $NEM

NewEdge Advisors LLC lessened its position in shares of Newmont Corporation (NYSE:NEM) by 22.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,821 shares of the basic materials company’s stock after selling 12,928 shares during the quarter. NewEdge Advisors LLC’s holdings in Newmont were worth $4,960,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Summit Financial Wealth Advisors LLC lifted its holdings in shares of Newmont by 3.6% during the 1st quarter. Summit Financial Wealth Advisors LLC now owns 7,034 shares of the basic materials company’s stock valued at $761,000 after purchasing an additional 246 shares during the last quarter. Axiom Investment Management LLC acquired a new position in Newmont during the 1st quarter valued at about $45,000. Summitry LLC acquired a new position in Newmont during the 1st quarter valued at about $300,000. Groupe la Francaise raised its stake in Newmont by 51.9% in the first quarter. Groupe la Francaise now owns 448,860 shares of the basic materials company’s stock valued at $48,448,000 after buying an additional 153,360 shares during the last quarter. Finally, Arete Wealth Advisors LLC boosted its holdings in Newmont by 90.4% in the first quarter. Arete Wealth Advisors LLC now owns 44,950 shares of the basic materials company’s stock worth $4,853,000 after acquiring an additional 21,338 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wall Street Zen lowered Newmont from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Citigroup lowered their target price on shares of Newmont from $150.00 to $125.00 and set a “buy” rating for the company in a research note on Monday, July 20th. Jefferies Financial Group dropped their target price on shares of Newmont from $158.00 to $146.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. TD Cowen restated a “buy” rating on shares of Newmont in a research note on Monday, April 27th. Finally, National Bank Financial decreased their price target on shares of Newmont from $140.00 to $125.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $132.11.

Newmont News Roundup

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Nevada dispute settled: Newmont and Barrick agreed to resolve their longstanding Nevada Gold Mines disagreements through a deal reportedly valued at approximately $1.95 billion. The agreement includes the contribution of previously excluded properties and eliminates outstanding disputes, reducing legal and operational uncertainty for Newmont. Barrick, Newmont settle dispute with $1.95B deal
• Positive Sentiment: Cash and strategic flexibility: The settlement provides Newmont with a significant financial benefit while restructuring the joint venture to potentially maximize the value of its Nevada assets. Newmont also consented to Barrick’s proposed North American gold IPO, removing a major obstacle to the transaction. Barrick and Newmont Reach Agreement Regarding Nevada Gold Mines Joint Venture
• Neutral Sentiment: Analyst view remains constructive: Newmont received a consensus “Moderate Buy” rating, indicating that analysts generally see upside potential, though the rating is not uniformly bullish. Newmont Receives Consensus Rating of Moderate Buy
• Negative Sentiment: Near-term earnings concern: Zacks issued a bearish estimate for Newmont’s third-quarter results. That outlook could limit gains if investors begin pricing in weaker production, costs, or profitability despite the favorable Nevada settlement. Zacks Research Has Bearish Estimate for Newmont Q3 Earnings

Newmont Stock Down 0.1%

Shares of NEM stock opened at $117.17 on Wednesday. Newmont Corporation has a fifty-two week low of $67.20 and a fifty-two week high of $134.88. The firm has a market capitalization of $123.46 billion, a PE ratio of 14.79, a P/E/G ratio of 1.31 and a beta of 0.47. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.26 and a current ratio of 2.55. The stock’s 50-day simple moving average is $98.25 and its 200-day simple moving average is $109.01.

Newmont (NYSE:NEM) last released its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. The firm had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same quarter in the previous year, the company posted $1.43 earnings per share. Equities analysts expect that Newmont Corporation will post 9 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, September 3rd. Newmont’s payout ratio is presently 13.13%.

Insider Activity

In related news, CFO Brian Tabolt sold 11,445 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the transaction, the chief financial officer owned 29,324 shares of the company’s stock, valued at $3,081,659.16. This trade represents a 28.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $93.45, for a total transaction of $280,350.00. Following the completion of the sale, the executive vice president directly owned 40,315 shares in the company, valued at approximately $3,767,436.75. The trade was a 6.93% decrease in their ownership of the stock. 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 32,091 shares of company stock valued at $3,292,513 in the last ninety days. 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.