Larry Mathis Financial Planning LLC Invests $569,000 in Newmont Corporation $NEM

Larry Mathis Financial Planning LLC acquired a new position in Newmont Corporation (NYSE:NEM) during the 4th quarter, HoldingsChannel reports. The fund acquired 5,696 shares of the basic materials company’s stock, valued at approximately $569,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Newmont by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company’s stock worth $13,390,613,000 after buying an additional 637,996 shares during the period. State Street Corp raised its position in shares of Newmont by 1.0% during the fourth quarter. State Street Corp now owns 49,959,850 shares of the basic materials company’s stock worth $4,988,491,000 after acquiring an additional 480,223 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Newmont by 23.4% in the fourth quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock valued at $2,973,539,000 after acquiring an additional 5,643,496 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Newmont by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company’s stock valued at $2,738,756,000 after acquiring an additional 946,824 shares during the last quarter. Finally, Norges Bank bought a new position in Newmont during the 4th quarter worth approximately $1,443,128,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont received major regulatory approvals from British Columbia for its Red Chris Block Cave project, a key milestone that supports a transition from open-pit mining to block caving and extends the mine life into the mid-2040s. The approval improves visibility on future production and could support the stock by advancing Newmont toward a final investment decision later this year. Article Title
• Positive Sentiment: Newmont continues to be viewed as a core name in gold mining, and broader strength in gold/mining shares may be helping sentiment around the stock. This can provide support even when company-specific news is limited. Article Title
• Neutral Sentiment: BNP Paribas Exane lowered its price target on Newmont to $111 from $128 while keeping a neutral rating. That is still above the current share price, but the cut may temper near-term enthusiasm. Article Title
• Negative Sentiment: Reports say Newmont’s Cadia mine was halted after an earthquake, raising concerns about temporary production disruption. Any prolonged shutdown could weigh on output and sentiment until Newmont clarifies the impact. Article Title

Analyst Ratings Changes

A number of brokerages have recently issued reports on NEM. Macquarie Infrastructure dropped their price target on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday, June 15th. TD increased their price objective on shares of Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. National Bank Financial lifted their target price on shares of Newmont from $130.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Friday, April 24th. Wall Street Zen lowered shares of Newmont from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Newmont in a research report on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.98.

Newmont Price Performance

Shares of NEM opened at $103.86 on Friday. Newmont Corporation has a 52-week low of $55.37 and a 52-week high of $134.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The business’s 50 day moving average price is $110.02 and its two-hundred day moving average price is $110.56. The firm has a market cap of $110.88 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 1.72 and a beta of 0.42.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.07 by $0.83. The company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company’s quarterly revenue was up 45.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 EPS. On average, equities analysts anticipate that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Announces Dividend

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

Insider Activity at Newmont

In other Newmont news, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction on 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 directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $408,852.24. Following the transaction, the chief executive officer owned 142,999 shares in the company, valued at $15,060,654.68. This represents a 2.64% 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. Over the last three months, insiders have sold 28,556 shares of company stock valued at $3,120,276. Company 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.