Newmont Corporation $NEM Shares Sold by Andra AP fonden

Andra AP fonden lessened its holdings in shares of Newmont Corporation (NYSE:NEM) by 3.0% during the second quarter, HoldingsChannel reports. The firm owned 209,503 shares of the basic materials company’s stock after selling 6,500 shares during the quarter. Andra AP fonden’s holdings in Newmont were worth $19,568,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Pinnacle Bancorp Inc. purchased a new stake in Newmont in the 1st quarter valued at about $25,000. Cedar Mountain Advisors LLC purchased a new stake in Newmont in the first quarter valued at approximately $25,000. Clearstead Trust LLC acquired a new position in Newmont during the second quarter worth approximately $25,000. Kilter Group LLC acquired a new position in Newmont during the second quarter worth approximately $26,000. Finally, Bayban purchased a new position in Newmont during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NEM shares. National Bank Financial decreased their price target on shares of Newmont from $140.00 to $125.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. Jefferies Financial Group cut their target price on Newmont from $158.00 to $146.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Raymond James Financial reissued an “outperform” rating and set a $140.00 price target on shares of Newmont in a research report on Monday, August 24th. Barclays cut their price objective on Newmont from $125.00 to $124.00 and set an “overweight” rating on the stock in a report on Tuesday, July 28th. Finally, Macquarie Infrastructure reduced their price objective on Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, June 15th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.07.

Insider Buying and Selling at Newmont

In related news, CEO Natascha Viljoen sold 3,882 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $123.00, for a total transaction of $477,486.00. Following the completion of the sale, the chief executive officer directly owned 131,353 shares of the company’s stock, valued at approximately $16,156,419. This trade represents a 2.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $123.00, for a total transaction of $369,000.00. Following the sale, the executive vice president directly owned 37,315 shares in the company, valued at $4,589,745. This trade represents a 7.44% 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. Insiders sold 32,091 shares of company stock valued at $3,414,187 over the last 90 days. 0.06% of the stock is owned by corporate insiders.

Newmont Stock Up 1.6%

Newmont stock traded up $2.01 during trading on Tuesday, reaching $125.06. 1,498,605 shares of the company’s stock were exchanged, compared to its average volume of 8,885,422. Newmont Corporation has a 52-week low of $76.05 and a 52-week high of $135.29. The firm has a market cap of $131.77 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 1.72 and a beta of 0.52. 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 company’s 50-day moving average is $113.83 and its two-hundred day moving average is $109.64.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 EPS for the quarter, beating the consensus estimate of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The company had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same period last year, the company posted $1.43 earnings per share. On average, analysts predict that Newmont Corporation will post 9.09 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, September 3rd. Newmont’s dividend payout ratio is currently 13.13%.

About Newmont

Newmont Corporation (NYSE: NEM) is a global mining company primarily focused on the exploration, development and production of gold. The company also produces copper, silver, zinc and lead as byproducts or from polymetallic operations. Its activities include operating mines, developing mineral projects and managing related processing and infrastructure assets.

Founded in 1921, Newmont became one of the first gold companies to be listed on the New York Stock Exchange. The company expanded significantly with its acquisition of Newcrest Mining, completed in 2023, which added major assets in Australia, Canada and Papua New Guinea to its portfolio.