Prudential PLC Has $37.25 Million Stock Holdings in Newmont Corporation $NEM

Prudential PLC boosted its holdings in shares of Newmont Corporation (NYSE:NEM) by 138.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 373,087 shares of the basic materials company’s stock after purchasing an additional 216,784 shares during the period. Prudential PLC’s holdings in Newmont were worth $37,253,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vise Technologies Inc. boosted its stake in Newmont by 32.8% in the 4th quarter. Vise Technologies Inc. now owns 41,467 shares of the basic materials company’s stock valued at $4,140,000 after buying an additional 10,237 shares in the last quarter. Crescent Grove Advisors LLC raised its stake in Newmont by 29.9% during the fourth quarter. Crescent Grove Advisors LLC now owns 24,753 shares of the basic materials company’s stock worth $2,472,000 after acquiring an additional 5,701 shares in the last quarter. TD Asset Management Inc raised its stake in Newmont by 10.0% during the fourth quarter. TD Asset Management Inc now owns 1,475,125 shares of the basic materials company’s stock worth $147,291,000 after acquiring an additional 133,841 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of Newmont by 73.6% during the fourth quarter. Sivia Capital Partners LLC now owns 10,248 shares of the basic materials company’s stock valued at $1,023,000 after acquiring an additional 4,346 shares during the period. Finally, Lido Advisors LLC boosted its stake in shares of Newmont by 3.7% in the 4th quarter. Lido Advisors LLC now owns 27,746 shares of the basic materials company’s stock valued at $2,770,000 after purchasing an additional 980 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Trending Headlines about Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Record gold prices are putting Newmont back in focus, reinforcing the stock’s appeal as a major gold producer and potential beneficiary of sustained strength in bullion. Record Gold Prices Put Newmont Back In Market Focus
• Positive Sentiment: RBC Capital maintained an outperform rating on Newmont despite lowering its price target to $140, signaling continued confidence in upside from current levels. RBC price target update
• Positive Sentiment: Recent bullish research also highlighted Newmont’s strong free cash flow, solid liquidity, and the company’s $6 billion buyback authorization as supportive long-term fundamentals. Newmont: Gold’s Volatility Creates A Long-Term Opportunity
• Neutral Sentiment: Insider selling by CEO Natascha Viljoen and EVP Peter Toth was disclosed, but both trades were made under pre-arranged Rule 10b5-1 plans, which makes them less likely to signal a negative change in outlook.
• Neutral Sentiment: Some recent articles suggest Newmont may be trading near fair value after its sharp multi-month rally, so investors are weighing whether most of the near-term upside is already priced in. A Look At Newmont (NEM) Valuation As Shares Trade Near Estimated Fair Value
• Negative Sentiment: One market note warned that after a roughly 96% one-year surge, Newmont could face limited additional upside if gold prices or mining sentiment cool off. Is It Too Late To Reassess Newmont (NEM) After Its 1 Year 96% Surge?

Wall Street Analysts Forecast Growth

NEM has been the topic of several analyst reports. Barclays began coverage on shares of Newmont in a report on Thursday, May 21st. They issued an “overweight” rating and a $133.00 target price on the stock. Stifel Nicolaus boosted their price target on shares of Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Canadian Imperial Bank of Commerce set a $175.00 price objective on shares of Newmont and gave the stock an “outperform” rating in a research note on Monday. Jefferies Financial Group dropped their price objective on shares of Newmont from $165.00 to $154.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Finally, Royal Bank Of Canada cut their target price on shares of Newmont from $160.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and an average target price of $142.07.

Insiders Place Their Bets

In related news, CEO Natascha Viljoen sold 3,882 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were 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 owned 142,999 shares in the company, valued at $15,060,654.68. The trade was a 2.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David James Fry sold 18,394 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $111.45, for a total value of $2,050,011.30. Following the transaction, the insider directly owned 17,147 shares in the company, valued at approximately $1,911,033.15. This represents a 51.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 49,950 shares of company stock valued at $5,494,288 over the last quarter. Company insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Newmont stock opened at $108.46 on Friday. The stock has a 50-day simple moving average of $111.74 and a 200 day simple moving average of $109.62. The stock has a market capitalization of $115.79 billion, a price-to-earnings ratio of 14.07, a P/E/G ratio of 1.78 and a beta of 0.42. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 12-month low of $52.08 and a 12-month high of $134.88.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. The firm had revenue of $7.31 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm earned $1.25 EPS. On average, research analysts anticipate that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Announces Dividend

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

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.