Private Advisory Group LLC Invests $10.43 Million in Newmont Corporation $NEM

Private Advisory Group LLC purchased a new position in shares of Newmont Corporation (NYSE:NEM) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 111,667 shares of the basic materials company’s stock, valued at approximately $10,430,000.

A number of other hedge funds have also recently added to or reduced their stakes in NEM. Focus Partners Advisor Solutions LLC purchased a new stake in Newmont in the 2nd quarter valued at approximately $2,794,000. State of Wyoming acquired a new position in Newmont during the 2nd quarter worth approximately $537,000. ABN AMRO Bank N.V. purchased a new position in shares of Newmont during the 2nd quarter worth approximately $31,189,000. Pacific Sage Partners LLC purchased a new position in shares of Newmont during the 2nd quarter worth approximately $283,000. Finally, One Wealth Advisors LLC acquired a new stake in shares of Newmont in the 2nd quarter valued at approximately $541,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Key Stories Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: New Nevada earn-in agreement: Newmont signed an agreement with Headwater Gold to earn an interest in the Jupiter Project, a potential district-scale epithermal gold project in Nevada. The deal expands Newmont’s exploration pipeline and could provide additional future resource growth. Headwater Gold and Newmont sign earn-in agreement for Jupiter project
• Positive Sentiment: Gold-market support: Gold prices near record levels are improving the outlook for gold producers such as Newmont and have been a major factor behind the company’s recent rally. Newmont’s Nevada agreements, including the Jupiter earn-in and its Spring Peak joint venture, further support investor interest in future production growth. Is Newmont in the spotlight as gold sits near record highs?
• Positive Sentiment: Optimistic analyst outlook: TD Securities and Scotiabank reportedly expect further appreciation in Newmont’s stock. Recent analyst targets compiled in market commentary show a median target of approximately $145.50, above the current trading level, although targets remain sensitive to gold prices and operating execution. Newmont stock price expected to rise, TD analyst says
• Positive Sentiment: Unusual options activity: Traders purchased 47,733 NEM call options, roughly 119% above average call volume. This indicates heightened bullish positioning, though options activity can also reflect short-term speculation rather than a change in fundamentals.
• Neutral Sentiment: Valuation debate: One analysis estimates Newmont could be about 19% undervalued following its Nevada deals, while another notes that the recent rally may already reflect much of the benefit from higher gold prices. Newmont could be 19% undervalued following Nevada gold deals
• Negative Sentiment: Operating risks and profit-taking: Analysts continue to flag lower production, rising costs and potentially weaker estimates. Investors are also monitoring uncertainty surrounding Nevada Gold Mines, Barrick’s Fourmile project and the valuation of the joint venture.
• Negative Sentiment: Insider selling: Reported insider activity shows 15 open-market sales and no purchases over the past six months, including sales by senior executives. This may weigh on sentiment, though insider transactions do not necessarily indicate a change in the company’s outlook.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Raymond James Financial decreased their price target on Newmont from $139.00 to $137.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Citigroup reduced their target price on Newmont from $150.00 to $125.00 and set a “buy” rating for the company in a report on Monday, July 20th. Barclays decreased their target price on shares of Newmont from $125.00 to $124.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 28th. Finally, Royal Bank Of Canada lowered their price target on shares of Newmont from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $132.59.

Newmont Price Performance

Shares of NYSE:NEM opened at $117.80 on Friday. The firm has a market capitalization of $124.12 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 1.31 and a beta of 0.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. The business’s 50 day simple moving average is $98.93 and its 200-day simple moving average is $108.98. Newmont Corporation has a 12 month low of $67.20 and a 12 month high of $134.88.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.05. The firm had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same period last year, the business posted $1.43 EPS. As a group, equities analysts forecast that Newmont Corporation will post 9 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Thursday, September 3rd will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $1.04 annualized dividend and a yield of 0.9%. Newmont’s dividend payout ratio is 13.13%.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $93.45, for a total value of $280,350.00. Following the sale, the executive vice president directly owned 40,315 shares in the company, valued at $3,767,436.75. The trade was a 6.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the sale, the chief financial officer directly owned 29,324 shares in the company, valued at approximately $3,081,659.16. The trade was a 28.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 32,091 shares of company stock worth $3,292,513 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

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.