Northwestern Mutual Wealth Management Co. Has $5.24 Million Stake in Newmont Corporation $NEM

Northwestern Mutual Wealth Management Co. lowered its stake in Newmont Corporation (NYSE:NEM) by 9.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 52,460 shares of the basic materials company’s stock after selling 5,611 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Newmont were worth $5,238,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NEM. Assetmark Inc. increased its position in Newmont by 398.3% during the fourth quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock worth $286,619,000 after buying an additional 2,294,396 shares during the last quarter. Boston Partners boosted its stake in shares of Newmont by 49.3% in the third quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock valued at $585,828,000 after buying an additional 2,288,653 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Newmont by 106.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 4,155,210 shares of the basic materials company’s stock valued at $349,288,000 after buying an additional 2,146,905 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Newmont by 142.0% in the second quarter. Ameriprise Financial Inc. now owns 3,262,258 shares of the basic materials company’s stock valued at $189,963,000 after buying an additional 1,914,286 shares during the period. Finally, Life Cycle Investment Partners Ltd bought a new stake in shares of Newmont in the fourth quarter valued at approximately $166,191,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Transactions at Newmont

In other Newmont news, 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 value 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. This trade represents a 2.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 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 $1,473,051.58. Following the completion of the transaction, the executive vice president directly owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. The trade was a 16.47% decrease in their ownership of the stock. 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. Over the last 90 days, insiders sold 49,950 shares of company stock worth $5,494,288. 0.06% of the stock is owned by corporate insiders.

Newmont Trading Down 1.7%

Shares of NEM stock opened at $107.62 on Thursday. The company has a 50 day moving average of $111.55 and a 200-day moving average of $109.47. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 12-month low of $52.08 and a 12-month high of $134.88. The firm has a market cap of $114.89 billion, a P/E ratio of 13.96, a PEG ratio of 1.82 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 the consensus estimate of $2.07 by $0.83. The company had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. Newmont’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 EPS. Sell-side analysts anticipate that Newmont Corporation will post 9.91 earnings per share for the current year.

Newmont Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have commented on the stock. National Bank Financial boosted 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. Canadian Imperial Bank of Commerce set a $175.00 price objective on Newmont and gave the company an “outperform” rating in a report on Monday. Stifel Nicolaus upped their price target on shares of Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Weiss Ratings cut shares of Newmont from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 27th. Finally, Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 3rd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $142.20.

More Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Seeking Alpha highlighted Newmont’s strong cash generation, saying its cash flow “explosion” may just be beginning, supported by a new $6 billion buyback authorization, record first-quarter free cash flow, and long-term gold price tailwinds. Newmont: Gold’s Volatility Creates A Long-Term Opportunity
• Positive Sentiment: Royal Bank of Canada kept an Outperform rating on Newmont, even after trimming its price target to $140 from $160, implying meaningful upside from current levels. RBC adjusts price target on Newmont
• Neutral Sentiment: Newmont remains a frequent topic among investors and screeners, with multiple articles questioning valuation after the stock’s sharp 1-year rally and noting that shares are trading near estimated fair value. A Look At Newmont (NEM) Valuation As Shares Trade Near Estimated Fair Value
• Negative Sentiment: CEO Natascha Viljoen and EVP Peter Toth both sold shares in pre-arranged 10b5-1 transactions, which can sometimes weigh on sentiment even though the sales were scheduled in advance.
• Neutral Sentiment: One article questioned whether it is too late to reassess the stock after a roughly 96% one-year surge, reflecting investor debate about whether much of the upside is already priced in. Is It Too Late To Reassess Newmont (NEM) After Its 1 Year 96% Surge?

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.