Newmont Corporation $NEM Shares Sold by O Domhnaill Enterprises Inc.

O Domhnaill Enterprises Inc. trimmed its holdings in shares of Newmont Corporation (NYSE:NEM) by 14.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 38,352 shares of the basic materials company’s stock after selling 6,686 shares during the period. Newmont makes up about 3.3% of O Domhnaill Enterprises Inc.’s investment portfolio, making the stock its 9th biggest position. O Domhnaill Enterprises Inc.’s holdings in Newmont were worth $4,152,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Newmont during the fourth quarter valued at $1,443,128,000. Van ECK Associates Corp boosted its stake in Newmont by 23.4% in the 4th quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock worth $2,973,539,000 after purchasing an additional 5,643,496 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Newmont by 110.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,743,228 shares of the basic materials company’s stock valued at $873,011,000 after buying an additional 4,588,018 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Newmont by 82.5% during the 4th quarter. AQR Capital Management LLC now owns 7,402,278 shares of the basic materials company’s stock worth $739,117,000 after buying an additional 3,345,543 shares during the last quarter. Finally, Assetmark Inc. raised its position in Newmont by 398.3% during the fourth quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock worth $286,619,000 after acquiring an additional 2,294,396 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Trading Down 3.2%

Shares of NEM stock traded down $3.16 on Tuesday, hitting $95.04. 2,029,117 shares of the company’s stock traded hands, compared to its average volume of 9,361,022. The stock has a market capitalization of $101.46 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 1.61 and a beta of 0.46. The company’s fifty day simple moving average is $106.12 and its 200 day simple moving average is $110.86. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. Newmont Corporation has a one year low of $55.37 and a one year high of $134.88.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The business had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same quarter last year, the firm earned $1.25 EPS. The company’s revenue was up 45.8% on a year-over-year basis. Equities analysts forecast that Newmont Corporation will post 9.87 EPS for the current year.

Newmont Announces Dividend

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

Insider Activity

In related news, CEO Natascha Viljoen sold 3,882 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $408,852.24. Following the completion of the transaction, the chief executive officer directly owned 142,999 shares in the company, valued at $15,060,654.68. The trade was a 2.64% 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. Also, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction that occurred on Friday, May 1st. The stock was 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 represents a 9.02% 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. 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 valued at $3,058,146 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have commented on NEM shares. Barclays started coverage on Newmont in a report on Thursday, May 21st. They issued an “overweight” rating and a $133.00 price objective on the stock. Wall Street Zen lowered Newmont from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 30th. Jefferies Financial Group decreased their price target on Newmont from $158.00 to $146.00 and set a “buy” rating for the company in a report on Monday. TD Cowen reissued a “buy” rating on shares of Newmont in a research note on Monday, April 27th. Finally, UBS Group reduced their price target on shares of Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $138.78.

Key Headlines Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Jefferies kept a Buy rating on Newmont even after cutting its price target from $158 to $146, which still implies meaningful upside from the current share price and supports the stock. Benzinga source
• Positive Sentiment: Recent commentary highlighted the possibility that higher gold prices could lift Newmont further, reinforcing sentiment around the company’s earnings leverage to bullion prices. Article title
• Positive Sentiment: Market recaps noted that Newmont outperformed the broader market in the latest session, reflecting continued investor interest in the gold miner. Article title
• Neutral Sentiment: Newmont’s accounting chief disclosed initial beneficial ownership, a routine corporate filing that does not by itself indicate a major change in fundamentals. Article title
• Negative Sentiment: EVP Peter Toth sold 3,000 shares under a pre-arranged trading plan, which can still weigh on sentiment because insider selling is often viewed cautiously by investors. Insider trade source
• Negative Sentiment: Jefferies lowered its price target on Newmont, which may signal slightly more tempered expectations even though the firm remains constructive on the stock. The Fly source

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.