U S Global Investors Inc. Buys Shares of 36,830 Newmont Corporation $NEM

U S Global Investors Inc. purchased a new position in Newmont Corporation (NYSE:NEM) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 36,830 shares of the basic materials company’s stock, valued at approximately $3,987,000.

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

Analyst Ratings Changes

Several equities analysts have recently commented on NEM shares. The Goldman Sachs Group reduced their price objective on Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. UBS Group dropped their target price on Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Canadian Imperial Bank of Commerce set a $175.00 target price on Newmont and gave the stock an “outperform” rating in a research note on Monday, June 1st. Wall Street Zen cut shares of Newmont from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 30th. Finally, Bank of America decreased their price target on shares of Newmont from $157.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.64.

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

Newmont Trading Up 0.5%

Shares of NYSE:NEM traded up $0.49 on Friday, reaching $95.30. 4,426,083 shares of the company traded hands, compared to its average volume of 8,174,271. The stock has a market capitalization of $101.74 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 1.07 and a beta of 0.46. The business’s 50-day simple moving average is $104.35 and its 200 day simple moving average is $110.63. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 52 week low of $55.37 and a 52 week high of $134.88.

Newmont (NYSE:NEM) last released its earnings results 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. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same quarter in the previous year, the company posted $1.25 EPS. Newmont’s revenue for the quarter was up 45.8% on a year-over-year basis. As a group, equities analysts anticipate that Newmont Corporation will post 9.42 EPS for the current fiscal 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 given a $0.26 dividend. The ex-dividend date was Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 1.1%. Newmont’s payout ratio is presently 13.49%.

Insider Buying and Selling

In other news, insider David John Thornton sold 2,296 shares of the 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 approximately $2,550,477.93. This represents a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $92.38, for a total transaction of $277,140.00. Following the completion of the transaction, the executive vice president directly owned 43,315 shares in the company, valued at approximately $4,001,439.70. The trade was a 6.48% 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 three months, insiders sold 28,556 shares of company stock worth $3,058,146. 0.06% of the stock is owned by company insiders.

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.