Dorsey Wright & Associates Has $14.99 Million Holdings in Newmont Corporation $NEM

Dorsey Wright & Associates increased its position in Newmont Corporation (NYSE:NEM) by 7.0% in the fourth quarter, HoldingsChannel reports. The firm owned 150,179 shares of the basic materials company’s stock after purchasing an additional 9,834 shares during the quarter. Newmont accounts for approximately 3.3% of Dorsey Wright & Associates’ holdings, making the stock its 5th biggest holding. Dorsey Wright & Associates’ holdings in Newmont were worth $14,995,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Cambient Family Office LLC bought a new stake in shares of Newmont during the 4th quarter valued at $209,000. Wick Capital Partners LLC purchased a new stake in shares of Newmont in the 4th quarter worth about $241,000. Mcguire Capital Advisors Inc. bought a new position in shares of Newmont in the 4th quarter worth about $540,000. Compound Planning Inc. lifted its position in Newmont by 5.2% during the 4th quarter. Compound Planning Inc. now owns 21,071 shares of the basic materials company’s stock valued at $2,104,000 after acquiring an additional 1,048 shares during the period. Finally, TMB Capital Partners LLC purchased a new position in Newmont during the 4th quarter valued at about $246,000. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on NEM. Argus boosted their price objective on shares of Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Bank of America raised their target price on shares of Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. BMO Capital Markets lifted their target price on shares of Newmont from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Zacks Research raised Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday. Finally, Royal Bank Of Canada cut their price target on Newmont from $160.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 3rd. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $140.98.

Newmont Stock Performance

Shares of Newmont stock opened at $103.86 on Friday. Newmont Corporation has a 1 year low of $55.37 and a 1 year high of $134.88. The firm’s 50-day moving average is $110.31 and its 200 day moving average is $110.61. The stock has a market cap of $110.88 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 1.75 and a beta of 0.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. The business had revenue of $7.31 billion during 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%. Newmont’s revenue was up 45.8% compared to the same quarter last year. During the same period last year, the business earned $1.25 EPS. Sell-side analysts anticipate that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be issued a dividend of $0.26 per share. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. Newmont’s dividend payout ratio is presently 13.49%.

Insider Activity

In related news, insider David John Thornton sold 2,296 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $252,812.56. Following the completion of the sale, the insider owned 23,163 shares of the company’s stock, valued at $2,550,477.93. This trade represents a 9.02% decrease in their ownership of the stock. 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, CEO Natascha Viljoen sold 3,882 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the completion of the transaction, the chief executive officer owned 142,999 shares of the company’s stock, valued at approximately $15,060,654.68. The trade was a 2.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,556 shares of company stock worth $3,120,276 over the last three months. 0.06% of the stock is currently owned by insiders.

Newmont News Roundup

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

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.