LGT Fund Management Co Ltd. Grows Position in Newmont Corporation $NEM

LGT Fund Management Co Ltd. grew its holdings in shares of Newmont Corporation (NYSE:NEM) by 154.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,492 shares of the basic materials company’s stock after buying an additional 30,049 shares during the period. LGT Fund Management Co Ltd.’s holdings in Newmont were worth $5,358,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cedar Mountain Advisors LLC bought a new stake in Newmont during the first quarter valued at about $25,000. Pinnacle Bancorp Inc. purchased a new position in shares of Newmont during the 1st quarter valued at about $25,000. GoalVest Advisory LLC bought a new position in shares of Newmont during the 4th quarter valued at approximately $25,000. Swiss RE Ltd. bought a new position in shares of Newmont during the 4th quarter valued at approximately $26,000. Finally, Cornerstone Planning Group LLC increased its holdings in Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 206 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $92.38, for a total transaction of $277,140.00. Following the transaction, the executive vice president owned 43,315 shares of the company’s stock, valued at approximately $4,001,439.70. This represents a 6.48% decrease in their position. The transaction was disclosed in a filing 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. Also, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the sale, the insider owned 23,163 shares of the company’s stock, valued at $2,550,477.93. The trade was a 9.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Over the last 90 days, insiders have sold 28,556 shares of company stock valued at $3,058,146. Company insiders own 0.06% of the company’s stock.

Newmont Trading Up 0.5%

Shares of NYSE NEM traded up $0.49 during midday trading on Friday, hitting $95.30. The company’s stock had a trading volume of 4,426,083 shares, compared to its average volume of 8,174,271. Newmont Corporation has a 12-month low of $55.37 and a 12-month high of $134.88. 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 firm has a market cap of $101.74 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 1.07 and a beta of 0.46. The business’s 50 day moving average is $104.35 and its two-hundred day moving average is $110.63.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.83. The company had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The firm’s quarterly revenue was up 45.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.25 EPS. As a group, equities research analysts expect that Newmont Corporation will post 9.32 EPS for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.1%. The ex-dividend date was Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is presently 13.49%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Argus lifted their price target on shares of Newmont from $94.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. UBS Group decreased their price objective on shares of Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Wall Street Zen downgraded shares of Newmont from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. Bank of America cut their price target on Newmont from $157.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday. Finally, TD raised their price target on Newmont from $116.00 to $129.00 and gave the company a “hold” rating in a report on Monday, April 27th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $137.64.

Key Headlines Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont welcomed the Government of Canada’s CA$500 million funding commitment for the Red Chris Block Cave project, a move that improves the economics of a key copper-gold development and could extend the mine’s life. Newmont (NEM) Welcomes Canada Funding for Red Chris
• Positive Sentiment: UBS and Macquarie both reiterated Buy ratings on Newmont, while Bank of America also kept a Buy rating even after cutting its price target to $132, signaling analysts still see upside from current levels. UBS Keeps Their Buy Rating on Newmont Corporation CHESS (NEM)
• Positive Sentiment: Articles highlighting Newmont as undervalued and benefiting from a rebound in gold prices suggest investor interest is rising as the precious-metals trade improves. Newmont (NEM) Stock Looks Cheap On Earnings While Cash Flow Looks Fair
• Positive Sentiment: Recent trading has shown Newmont outperforming the broader market, with coverage citing renewed momentum in the stock and in gold-related names. Newmont Corporation (NEM) Outperforms Broader Market: What You Need to Know
• Neutral Sentiment: One valuation piece said Newmont looks close to fair value around the low-$90s, which may limit near-term enthusiasm even though it doesn’t signal a major downside concern. Newmont (NEM) Stock Looks Cheap On Earnings While Cash Flow Looks Fair
• Negative Sentiment: Despite the recent bounce, Newmont has still been under pressure over the past few months, and Bank of America’s price-target cut reflects some caution about the stock’s longer-term upside. Bank of America price target update 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.