Clark Capital Management Group Inc. Raises Position in Newmont Corporation $NEM

Clark Capital Management Group Inc. grew its position in Newmont Corporation (NYSE:NEM) by 9,809.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 610,814 shares of the basic materials company’s stock after buying an additional 604,650 shares during the period. Clark Capital Management Group Inc. owned approximately 0.06% of Newmont worth $60,990,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. CWM LLC raised its holdings in Newmont by 64.6% in the fourth quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock worth $20,259,000 after buying an additional 79,617 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Newmont by 24.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock valued at $30,775,000 after acquiring an additional 54,530 shares during the last quarter. AustralianSuper Pty Ltd grew its stake in shares of Newmont by 124.8% in the third quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock worth $27,843,000 after acquiring an additional 183,360 shares during the period. Leonteq Securities AG bought a new stake in shares of Newmont in the fourth quarter worth approximately $9,018,000. Finally, Waverton Investment Management Ltd raised its holdings in shares of Newmont by 3.4% during the third quarter. Waverton Investment Management Ltd now owns 704,331 shares of the basic materials company’s stock valued at $59,365,000 after purchasing an additional 23,139 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Performance

NEM opened at $108.46 on Wednesday. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The company has a market cap of $115.79 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 1.75 and a beta of 0.42. The company’s 50 day moving average is $110.66 and its 200 day moving average is $110.41. Newmont Corporation has a 12-month low of $55.37 and a 12-month high of $134.88.

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, topping analysts’ consensus estimates 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 firm’s revenue was up 45.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.25 earnings per share. On average, equities research analysts predict that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Announces Dividend

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

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $315,960.00. Following the transaction, the executive vice president owned 46,315 shares of the company’s stock, valued at $4,877,895.80. The trade was a 6.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction that occurred on 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 directly owned 142,999 shares in the company, valued at $15,060,654.68. This represents a 2.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 28,556 shares of company stock worth $3,120,276. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on NEM shares. National Bank Financial increased their price objective on shares of Newmont from $130.00 to $140.00 and gave the company a “sector perform” rating in a research report on Friday, April 24th. Bank of America increased their price objective on shares of Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Royal Bank Of Canada lowered their price objective on shares of Newmont from $160.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 3rd. BMO Capital Markets increased their price objective on shares of Newmont from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Finally, BNP Paribas Exane increased their price objective on shares of Newmont from $123.00 to $128.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $141.79.

Key Stories Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont announced key executive appointments, naming veteran insiders to the CFO, COO, and CTO roles starting July 1. Investors often view management continuity and promoting experienced leaders as a sign of operational stability and smoother execution. Newmont Announces Key Executive Appointments for the Next Phase of Delivery
• Positive Sentiment: Several recent commentaries highlighted Newmont as a value idea and a Zacks Rank #1 stock, which can boost investor interest and reinforce the bullish case for the shares. Best Value Stocks to Buy for June 16th
• Positive Sentiment: Gold-price optimism is helping sentiment around Newmont, with reports suggesting the recent gold pullback may be more of a reset than a trend reversal. As one of the largest gold miners, Newmont tends to benefit when investors expect gold to rebound. Gold’s Correction Looks More Like a Reset. Newmont and These 4 Stocks Are Buys.
• Neutral Sentiment: Analyst and media coverage continues to keep Newmont in focus, including pieces on whether the stock remains attractive versus peers like Agnico Eagle Mines. This keeps attention high, but does not by itself change fundamentals. NEM or AEM: Which Is the Better Value Stock Right Now?
• Negative Sentiment: One note of caution is that Macquarie trimmed its price target on Newmont, even while keeping an outperform rating. That kind of revision can temper enthusiasm if investors worry about near-term upside. Macquarie adjusts price target on Newmont

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.