Newmont Corporation $NEM Holdings Lifted by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky increased its position in shares of Newmont Corporation (NYSE:NEM) by 267.5% during the first quarter, Holdings Channel.com reports. The fund owned 328,197 shares of the basic materials company’s stock after acquiring an additional 238,900 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Newmont were worth $35,527,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Procyon Advisors LLC raised its holdings in shares of Newmont by 2.5% in the 1st quarter. Procyon Advisors LLC now owns 53,158 shares of the basic materials company’s stock worth $5,754,000 after purchasing an additional 1,306 shares in the last quarter. LGT Fund Management Co Ltd. boosted its holdings in Newmont by 154.5% during the first quarter. LGT Fund Management Co Ltd. now owns 49,492 shares of the basic materials company’s stock worth $5,358,000 after buying an additional 30,049 shares in the last quarter. Global Assets Advisory LLC bought a new stake in Newmont during the first quarter worth approximately $163,000. Diversify Wealth Management LLC acquired a new position in Newmont in the first quarter worth approximately $1,511,000. Finally, 180 Wealth Advisors LLC grew its position in Newmont by 3.2% in the first quarter. 180 Wealth Advisors LLC now owns 24,134 shares of the basic materials company’s stock worth $2,612,000 after buying an additional 754 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of recent research reports. Zacks Research upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 15th. Argus lifted their target price on Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Raymond James Financial cut their target price on Newmont from $139.00 to $137.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 30th. Weiss Ratings downgraded Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. Finally, TD Cowen reiterated a “buy” rating on shares of Newmont in a research report on Monday, April 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $137.64.

Newmont Trading Up 0.0%

NYSE NEM opened at $95.30 on Monday. Newmont Corporation has a twelve month low of $55.37 and a twelve month 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 stock has a market cap of $101.74 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 1.08 and a beta of 0.46. The firm’s 50 day moving average price is $104.35 and its two-hundred day moving average price is $110.68.

Newmont (NYSE:NEM) last announced its earnings results 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. The company had revenue of $7.31 billion for 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 revenue was up 45.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.25 EPS. Equities analysts anticipate that Newmont Corporation will post 9.32 EPS for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Wednesday, May 27th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, May 27th. Newmont’s payout ratio is presently 13.49%.

Newmont News Roundup

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

Insiders Place Their Bets

In related news, insider David John Thornton sold 2,296 shares of the stock in a transaction dated Friday, May 1st. The stock was 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. This represents a 9.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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, EVP Peter Wexler sold 13,378 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $1,473,051.58. Following the sale, the executive vice president owned 67,865 shares of the company’s stock, valued at $7,472,615.15. The trade was a 16.47% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 28,556 shares of company stock valued at $3,058,146 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

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.