Newmont Corporation $NEM Position Lowered by Pacer Advisors Inc.

Pacer Advisors Inc. decreased its stake in shares of Newmont Corporation (NYSE:NEM) by 17.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,727,770 shares of the basic materials company’s stock after selling 1,012,002 shares during the quarter. Newmont comprises about 0.7% of Pacer Advisors Inc.’s portfolio, making the stock its 4th largest holding. Pacer Advisors Inc. owned approximately 0.43% of Newmont worth $472,068,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. GoalVest Advisory LLC bought a new stake in Newmont in the 4th quarter valued at $25,000. Swiss RE Ltd. bought a new position in shares of Newmont during the 4th quarter valued at about $26,000. Cornerstone Planning Group LLC grew its position in shares of Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 206 shares in the last quarter. JPL Wealth Management LLC purchased a new position in shares of Newmont during the third quarter valued at about $27,000. Finally, Lodestone Wealth Management LLC bought a new stake in shares of Newmont in the fourth quarter worth about $28,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Newmont

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

Insider Buying and Selling at Newmont

In other news, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $252,812.56. Following the transaction, the insider directly owned 23,163 shares in the company, valued at approximately $2,550,477.93. This trade represents a 9.02% decrease in their position. The sale was disclosed in a legal filing 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, CEO Natascha Viljoen sold 3,882 shares of the business’s stock in a transaction on Monday, June 1st. The stock was 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 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. Over the last quarter, insiders sold 28,556 shares of company stock worth $3,120,276. Company insiders own 0.06% of the company’s stock.

Newmont Stock Performance

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

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. The company had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.Newmont’s revenue was up 45.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.25 EPS. Research analysts forecast that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Dividend Announcement

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

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of research analyst reports. Zacks Research upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday. TD Cowen reaffirmed a “buy” rating on shares of Newmont in a research note on Monday, April 27th. Scotiabank decreased their price objective on Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a report on Friday, March 20th. The Goldman Sachs Group lowered their target price on Newmont from $125.10 to $122.50 and set a “buy” rating for the company in a research report on Thursday, June 4th. Finally, 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 report on Thursday, February 26th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $140.98.

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.