Friedenthal Financial Makes New $1.07 Million Investment in Newmont Corporation $NEM

Friedenthal Financial bought a new position in Newmont Corporation (NYSE:NEM) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 9,901 shares of the basic materials company’s stock, valued at approximately $1,072,000.

A number of other institutional investors and hedge funds have also made changes to their positions in NEM. GoalVest Advisory LLC acquired a new stake in Newmont in the fourth quarter valued at about $25,000. Swiss RE Ltd. acquired a new position in Newmont during the 4th quarter worth approximately $26,000. Cornerstone Planning Group LLC raised its stake in shares of Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after buying an additional 206 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Newmont in the 3rd quarter valued at approximately $27,000. Finally, Lodestone Wealth Management LLC purchased a new stake in shares of Newmont in the fourth quarter valued at approximately $28,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont received key regulatory approvals for its Red Chris Block Cave project in British Columbia, allowing a transition to block caving and extending the mine’s life into the 2040s. The project is also expected to boost copper output in Canada, which supports longer-term production growth. Newmont Secures Red Chris Approval For A Copper Push Into The 2040s
• Positive Sentiment: BMO Capital Markets cut its price target to $135 from $145 but maintained an “outperform” rating, signaling analysts still see meaningful upside from current levels. BMO Capital Adjusts Price Target on Newmont
• Positive Sentiment: Newmont was included on a Zacks “Strong Buy” value-stocks list, which may reinforce investor interest in the name as a quality/value play. Best Value Stocks to Buy for June 23rd
• Neutral Sentiment: Coverage highlighted Newmont as a stock drawing S&P 500 attention and benefiting from strong gold prices, but these articles were more thematic than event-driven.
• Negative Sentiment: The stock has also been under pressure from a short-term pullback, with recent articles noting weaker trading momentum and a retreat from recent highs. Newmont Corporation (NEM) Dips More Than Broader Market: What You Should Know

Newmont Trading Down 4.2%

Shares of NEM opened at $93.75 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The firm has a 50 day simple moving average of $108.76 and a 200-day simple moving average of $110.85. Newmont Corporation has a 1-year low of $55.37 and a 1-year high of $134.88. The stock has a market cap of $100.08 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 1.62 and a beta of 0.42.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.83. The firm had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 EPS. Equities analysts forecast that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Wednesday, May 27th. Newmont’s payout ratio is 13.49%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wall Street Zen downgraded Newmont from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. TD upped their price target on shares of Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a research note on Monday, April 27th. UBS Group cut their price target on shares of Newmont from $150.00 to $140.00 and set a “buy” rating for the company in a report on Friday, March 27th. TD Cowen reiterated a “buy” rating on shares of Newmont in a research note on Monday, April 27th. Finally, Sanford C. Bernstein raised shares of Newmont from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $121.00 to $157.00 in a report on Friday, February 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $140.50.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,877,895.80. The trade was a 6.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $408,852.24. Following the completion of the transaction, the chief executive officer directly owned 142,999 shares of the company’s stock, valued at $15,060,654.68. The trade was a 2.64% 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. Insiders have sold 28,556 shares of company stock valued at $3,120,276 over the last three months. Insiders own 0.06% of the company’s stock.

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.