Newmont Corporation $NEM Shares Sold by Inspire Investing LLC

Inspire Investing LLC cut its stake in shares of Newmont Corporation (NYSE:NEM) by 43.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,169 shares of the basic materials company’s stock after selling 29,268 shares during the period. Inspire Investing LLC’s holdings in Newmont were worth $3,811,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NEM. Norges Bank acquired a new stake in shares of Newmont during the fourth quarter valued at about $1,443,128,000. Van ECK Associates Corp increased its position in shares of Newmont by 23.4% during 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. Arrowstreet Capital Limited Partnership increased its position in shares of Newmont by 110.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,743,228 shares of the basic materials company’s stock valued at $873,011,000 after acquiring an additional 4,588,018 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Newmont by 82.5% during the fourth quarter. AQR Capital Management LLC now owns 7,402,278 shares of the basic materials company’s stock valued at $739,117,000 after acquiring an additional 3,345,543 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of Newmont by 398.3% during the fourth quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock valued at $286,619,000 after acquiring an additional 2,294,396 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related 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 value of $315,960.00. Following the completion of the transaction, the executive vice president owned 46,315 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of Newmont stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the completion of the transaction, the executive vice president owned 67,865 shares of the company’s stock, valued at $7,472,615.15. This represents a 16.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 have sold 28,556 shares of company stock worth $3,120,276 over the last three months. Insiders own 0.06% of the company’s stock.

More Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Zacks upgraded Newmont from hold to strong-buy, reinforcing a more optimistic view on the stock’s near-term prospects.
• Positive Sentiment: Wall Street’s average price target implies about 30% upside, with analysts also pointing to rising earnings estimates as a supportive signal for the shares. Article: Does Newmont (NEM) Have the Potential to Rally 30.14% as Wall Street Analysts Expect?
• Positive Sentiment: Newmont announced a leadership reshuffle, naming new CFO, COO, and CTO appointments effective July 1, which investors may see as a move to sharpen execution under CEO Natascha Viljoen.
• Positive Sentiment: Several recent articles highlight Newmont as a value or buy idea and note that the company remains well positioned if gold prices rebound, which is supportive for a gold miner.
• Neutral Sentiment: Other coverage focused on comparison pieces and broad investor interest, but these are less likely to move the stock on their own.

Newmont Stock Down 2.7%

Shares of Newmont stock opened at $105.55 on Thursday. Newmont Corporation has a 52-week low of $55.37 and a 52-week high of $134.88. The company has a 50 day moving average of $110.52 and a 200 day moving average of $110.51. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $112.68 billion, a P/E ratio of 13.69, a P/E/G ratio of 1.80 and a beta of 0.42.

Newmont (NYSE:NEM) last issued its quarterly earnings results 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. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. The firm’s quarterly revenue was up 45.8% on a year-over-year basis. As a group, research analysts forecast that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently weighed in on NEM shares. TD Cowen restated a “buy” rating on shares of Newmont in a report on Monday, April 27th. Bank of America lifted their price objective on shares of Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Sanford C. Bernstein upgraded shares of Newmont from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $121.00 to $157.00 in a report on Friday, February 27th. BMO Capital Markets lifted their price objective on shares of Newmont from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Finally, Scotiabank dropped their price objective on shares of Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a report on Friday, March 20th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of $141.79.

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.