Newmont Corporation $NEM Stake Lifted by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Newmont Corporation (NYSE:NEM) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,033,266 shares of the basic materials company’s stock after buying an additional 15,091 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Newmont were worth $802,122,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in NEM. Brighton Jones LLC boosted its holdings in Newmont by 15.7% during the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after buying an additional 1,847 shares in the last quarter. Woodline Partners LP boosted its holdings in Newmont by 40.7% during the first quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock worth $4,644,000 after buying an additional 27,813 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Newmont during the second quarter worth approximately $240,000. Cerity Partners LLC boosted its holdings in Newmont by 108.9% during the second quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock worth $7,303,000 after buying an additional 65,342 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in Newmont by 8.5% during the second quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock worth $2,854,000 after buying an additional 3,856 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NEM has been the subject of a number of research reports. Jefferies Financial Group raised their target price on shares of Newmont from $154.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Wall Street Zen cut shares of Newmont from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. Canaccord Genuity Group raised their target price on shares of Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Citigroup raised their target price on shares of Newmont from $118.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Finally, Canadian Imperial Bank of Commerce set a $175.00 target price on shares of Newmont and gave the stock an “outperform” rating in a report on Monday, June 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.26.

Insider Buying and Selling at Newmont

In other news, insider David John Thornton sold 2,296 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $252,812.56. Following the transaction, the insider owned 23,163 shares in the company, valued at approximately $2,550,477.93. This trade represents a 9.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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, CEO Natascha Viljoen sold 3,882 shares of the firm’s stock in a transaction 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 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. Insiders have sold 49,950 shares of company stock worth $5,494,288 in the last ninety days. Company insiders own 0.06% of the company’s stock.

Newmont Stock Up 2.6%

Newmont stock opened at $100.10 on Friday. The company has a market capitalization of $106.86 billion, a P/E ratio of 12.98, a P/E/G ratio of 1.62 and a beta of 0.42. The firm’s fifty day simple moving average is $110.94 and its 200-day simple moving average is $109.98. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 1-year low of $55.37 and a 1-year high of $134.88.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. The business 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%. Newmont’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. Sell-side analysts forecast that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be issued a dividend of $0.26 per share. The ex-dividend date 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 currently 13.49%.

Newmont 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.