Sequoia Financial Advisors LLC Has $4.46 Million Stock Position in Newmont Corporation $NEM

Sequoia Financial Advisors LLC boosted its holdings in shares of Newmont Corporation (NYSE:NEM) by 25.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,179 shares of the basic materials company’s stock after buying an additional 8,301 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Newmont were worth $4,458,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. GoalVest Advisory LLC acquired a new stake in Newmont during the 4th quarter valued at $25,000. Pinnacle Bancorp Inc. acquired a new position in shares of Newmont in the first quarter valued at $25,000. Cedar Mountain Advisors LLC bought a new position in shares of Newmont in the first quarter valued at about $25,000. Swiss RE Ltd. bought a new position in shares of Newmont in the fourth quarter valued at about $26,000. Finally, Cornerstone Planning Group LLC lifted its stake in shares of Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after buying an additional 206 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NEM has been the topic of a number of research reports. Canaccord Genuity Group upped their price target on shares of Newmont from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. The Goldman Sachs Group decreased their target price on Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Zacks Research upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 15th. Canadian Imperial Bank of Commerce set a $175.00 price target on Newmont and gave the stock an “outperform” rating in a report on Monday, June 1st. Finally, Macquarie Infrastructure lowered their price objective on Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday, June 15th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $137.64.

Insider Transactions at Newmont

In related news, insider David John Thornton sold 2,296 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the sale, the insider owned 23,163 shares of the company’s stock, valued at $2,550,477.93. The trade was a 9.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through 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, CEO Natascha Viljoen sold 3,882 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the transaction, the chief executive officer owned 142,999 shares of the company’s stock, valued at $15,060,654.68. This trade represents a 2.64% 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. In the last 90 days, insiders sold 28,556 shares of company stock worth $3,058,146. Insiders own 0.06% of the company’s stock.

Newmont Stock Up 0.0%

NEM stock opened at $95.30 on Monday. Newmont Corporation has a 52 week low of $55.37 and a 52 week high of $134.88. The business has a 50-day simple moving average of $104.35 and a 200 day simple moving average of $110.68. 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 has a market cap of $101.74 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.08 and a beta of 0.46.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating 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 firm had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same period last year, the firm earned $1.25 EPS. The business’s quarterly revenue was up 45.8% compared to the same quarter last year. Sell-side analysts anticipate that Newmont Corporation will post 9.32 EPS for the current fiscal year.

Newmont Announces Dividend

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

Key Headlines Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont welcomed the Government of Canada’s CA$500 million funding commitment for the Red Chris Block Cave project, a move that improves the economics of a key copper-gold development and could extend the mine’s life. Newmont (NEM) Welcomes Canada Funding for Red Chris
• Positive Sentiment: UBS and Macquarie both reiterated Buy ratings on Newmont, while Bank of America also kept a Buy rating even after cutting its price target to $132, signaling analysts still see upside from current levels. UBS Keeps Their Buy Rating on Newmont Corporation CHESS (NEM)
• Positive Sentiment: Articles highlighting Newmont as undervalued and benefiting from a rebound in gold prices suggest investor interest is rising as the precious-metals trade improves. Newmont (NEM) Stock Looks Cheap On Earnings While Cash Flow Looks Fair
• Positive Sentiment: Recent trading has shown Newmont outperforming the broader market, with coverage citing renewed momentum in the stock and in gold-related names. Newmont Corporation (NEM) Outperforms Broader Market: What You Need to Know
• Neutral Sentiment: One valuation piece said Newmont looks close to fair value around the low-$90s, which may limit near-term enthusiasm even though it doesn’t signal a major downside concern. Newmont (NEM) Stock Looks Cheap On Earnings While Cash Flow Looks Fair
• Negative Sentiment: Despite the recent bounce, Newmont has still been under pressure over the past few months, and Bank of America’s price-target cut reflects some caution about the stock’s longer-term upside. Bank of America price target update on Newmont

About Newmont

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.