Intellectus Partners LLC Sells 5,637 Shares of Newmont Corporation $NEM

Intellectus Partners LLC cut its stake in shares of Newmont Corporation (NYSE:NEM) by 18.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,508 shares of the basic materials company’s stock after selling 5,637 shares during the quarter. Intellectus Partners LLC’s holdings in Newmont were worth $2,447,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of NEM. Norges Bank bought a new position in Newmont during the fourth quarter worth $1,443,128,000. Assetmark Inc. boosted its stake 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. Boston Partners boosted its stake in Newmont by 49.3% during the third quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock worth $585,828,000 after acquiring an additional 2,288,653 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Newmont by 106.9% during the third quarter. Arrowstreet Capital Limited Partnership now owns 4,155,210 shares of the basic materials company’s stock worth $349,288,000 after acquiring an additional 2,146,905 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Newmont by 142.0% during the second quarter. Ameriprise Financial Inc. now owns 3,262,258 shares of the basic materials company’s stock worth $189,963,000 after acquiring an additional 1,914,286 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont News Summary

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Seeking Alpha highlighted Newmont’s strong cash generation, saying its cash flow “explosion” may just be beginning, supported by a new $6 billion buyback authorization, record first-quarter free cash flow, and long-term gold price tailwinds. Newmont: Gold’s Volatility Creates A Long-Term Opportunity
• Positive Sentiment: Royal Bank of Canada kept an Outperform rating on Newmont, even after trimming its price target to $140 from $160, implying meaningful upside from current levels. RBC adjusts price target on Newmont
• Neutral Sentiment: Newmont remains a frequent topic among investors and screeners, with multiple articles questioning valuation after the stock’s sharp 1-year rally and noting that shares are trading near estimated fair value. A Look At Newmont (NEM) Valuation As Shares Trade Near Estimated Fair Value
• Negative Sentiment: CEO Natascha Viljoen and EVP Peter Toth both sold shares in pre-arranged 10b5-1 transactions, which can sometimes weigh on sentiment even though the sales were scheduled in advance.
• Neutral Sentiment: One article questioned whether it is too late to reassess the stock after a roughly 96% one-year surge, reflecting investor debate about whether much of the upside is already priced in. Is It Too Late To Reassess Newmont (NEM) After Its 1 Year 96% Surge?

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NEM shares. TD Securities reissued a “hold” rating and set a $129.00 target price on shares of Newmont in a research note on Monday, April 27th. Sanford C. Bernstein raised shares of Newmont from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $121.00 to $157.00 in a research note on Friday, February 27th. Royal Bank Of Canada cut their target price on shares of Newmont from $160.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday. Macquarie Infrastructure increased their target price on shares of Newmont from $130.00 to $133.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Finally, Barclays assumed coverage on shares of Newmont in a research note on Thursday, May 21st. They issued an “overweight” rating and a $133.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $142.20.

Newmont Stock Down 1.7%

Newmont stock opened at $107.62 on Thursday. Newmont Corporation has a 1-year low of $52.08 and a 1-year high of $134.88. The firm has a market capitalization of $114.89 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 1.82 and a beta of 0.42. The firm’s fifty day moving average price is $111.55 and its two-hundred day moving average price is $109.47. 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 (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. 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 earnings per share. The business’s quarterly revenue was up 45.8% compared to the same quarter last year. On average, equities research analysts predict that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is 13.49%.

Insider Transactions at Newmont

In other news, insider David John Thornton sold 2,296 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the sale, the insider owned 23,163 shares in the company, valued at $2,550,477.93. This represents a 9.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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, insider David James Fry sold 18,394 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the sale, the insider owned 17,147 shares of the company’s stock, valued at approximately $1,911,033.15. This represents a 51.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 49,950 shares of company stock valued at $5,494,288. Corporate insiders own 0.06% of the company’s stock.

Newmont Company 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.