Munich Reinsurance Co Stock Corp in Munich Boosts Position in Newmont Corporation $NEM

Munich Reinsurance Co Stock Corp in Munich increased its position in shares of Newmont Corporation (NYSE:NEM) by 727.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 95,067 shares of the basic materials company’s stock after acquiring an additional 83,576 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich’s holdings in Newmont were worth $10,291,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. CWM LLC lifted its position in Newmont by 64.6% in the fourth quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock valued at $20,259,000 after buying an additional 79,617 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Newmont by 24.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock valued at $30,775,000 after acquiring an additional 54,530 shares during the last quarter. Leonteq Securities AG acquired a new position in shares of Newmont in the 4th quarter worth approximately $9,018,000. ARS Investment Partners LLC boosted its position in shares of Newmont by 3.6% during the 4th quarter. ARS Investment Partners LLC now owns 697,063 shares of the basic materials company’s stock worth $69,602,000 after purchasing an additional 23,900 shares during the period. Finally, Ritholtz Wealth Management boosted its position in shares of Newmont by 67.0% during the 4th quarter. Ritholtz Wealth Management now owns 40,754 shares of the basic materials company’s stock worth $4,069,000 after purchasing an additional 16,352 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont News Roundup

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont could benefit if gold’s recent rebound continues, since the company’s earnings are closely tied to precious-metals prices and improved gold momentum typically supports the stock. Can Newmont (NYSE:NEM) Ride Gold’s Rebound?
• Positive Sentiment: Recent coverage says Newmont is gaining as gold momentum builds, reinforcing the view that stronger bullion prices could boost revenue and margins for the miner. Newmont (NYSE:NEM) Gains As Gold Momentum Builds Today
• Positive Sentiment: Newmont welcomed Canada’s CA$500 million funding for the Red Chris Block Cave project, which strengthens the economics of a major development asset and supports longer-term growth prospects. Newmont (NEM) Welcomes Canada Funding for Red Chris
• Positive Sentiment: Jefferies reiterated a Buy stance on Newmont and assigned a new $146 price target, indicating analysts still see meaningful upside from current levels. Newmont (NYSE:NEM) Given New $146.00 Price Target at Jefferies Financial Group
• Neutral Sentiment: Newmont recently outperformed the broader market in a prior session, showing that investor interest in the gold miner remains strong even amid volatility. Newmont Corporation (NEM) Exceeds Market Returns: Some Facts to Consider
• Negative Sentiment: EVP Peter Toth sold 3,000 shares under a pre-arranged trading plan, which can still pressure sentiment because insider selling is often viewed cautiously by investors. Newmont (NYSE:NEM) EVP Peter Toth Sells 3,000 Shares of Stock
• Negative Sentiment: Some recent commentary argues Newmont remains overvalued on a fundamental basis, and GF Value said the shares are still above fair value, which may weigh on buyer enthusiasm. Newmont Corp (NEM) Shares Fall 3.2% — GF Value Says Still Overvalued

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $92.38, for a total value of $277,140.00. Following the sale, the executive vice president directly owned 43,315 shares in the company, valued at approximately $4,001,439.70. This trade represents a 6.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the business’s stock in a transaction 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 transaction, the insider owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. The trade was a 9.02% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. In the last 90 days, insiders sold 28,556 shares of company stock valued at $3,058,146. 0.06% of the stock is currently owned by company insiders.

Newmont Trading Down 2.0%

NYSE:NEM opened at $93.20 on Thursday. Newmont Corporation has a 12-month low of $55.37 and a 12-month high of $134.88. The firm has a market cap of $99.50 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 1.58 and a beta of 0.46. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average price of $104.89 and a 200 day moving average price of $110.79.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter last year, the business posted $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 9.87 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have commented on NEM. Raymond James Financial decreased their price target on Newmont from $139.00 to $137.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th. BMO Capital Markets dropped their price objective on Newmont from $145.00 to $135.00 and set an “outperform” rating for the company in a research note on Tuesday, June 23rd. Zacks Research upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday, June 15th. TD Cowen reissued a “buy” rating on shares of Newmont in a research note on Monday, April 27th. Finally, Jefferies Financial Group lowered their target price on Newmont from $158.00 to $146.00 and set a “buy” rating for the company in a report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average target price of $138.78.

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.