Rothschild Wealth LLC Acquires New Stake in Newmont Corporation $NEM

Rothschild Wealth LLC acquired a new stake in Newmont Corporation (NYSE:NEM) during the 4th quarter, Holdings Channel reports. The fund acquired 19,745 shares of the basic materials company’s stock, valued at approximately $1,972,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Newmont by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company’s stock valued at $13,390,613,000 after acquiring an additional 637,996 shares in the last quarter. State Street Corp lifted its position in Newmont by 1.0% in the 4th quarter. State Street Corp now owns 49,959,850 shares of the basic materials company’s stock valued at $4,988,491,000 after acquiring an additional 480,223 shares in the last quarter. Van ECK Associates Corp lifted its position in Newmont by 23.4% in the 4th 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 in the last quarter. Geode Capital Management LLC lifted its position in Newmont by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company’s stock valued at $2,738,756,000 after acquiring an additional 946,824 shares in the last quarter. Finally, Norges Bank bought a new stake in Newmont in the 4th quarter valued at $1,443,128,000. 68.85% of the stock is owned by institutional investors.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $315,960.00. Following the transaction, the executive vice president directly owned 46,315 shares of the company’s stock, valued at approximately $4,877,895.80. This trade represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 the firm’s 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 transaction, the executive vice president directly owned 67,865 shares in the company, valued at $7,472,615.15. This represents a 16.47% 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. Insiders sold a total of 28,556 shares of company stock valued at $3,120,276 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Key Stories Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont announced key executive appointments, naming veteran insiders to the CFO, COO, and CTO roles starting July 1. Investors often view management continuity and promoting experienced leaders as a sign of operational stability and smoother execution. Newmont Announces Key Executive Appointments for the Next Phase of Delivery
• Positive Sentiment: Several recent commentaries highlighted Newmont as a value idea and a Zacks Rank #1 stock, which can boost investor interest and reinforce the bullish case for the shares. Best Value Stocks to Buy for June 16th
• Positive Sentiment: Gold-price optimism is helping sentiment around Newmont, with reports suggesting the recent gold pullback may be more of a reset than a trend reversal. As one of the largest gold miners, Newmont tends to benefit when investors expect gold to rebound. Gold’s Correction Looks More Like a Reset. Newmont and These 4 Stocks Are Buys.
• Neutral Sentiment: Analyst and media coverage continues to keep Newmont in focus, including pieces on whether the stock remains attractive versus peers like Agnico Eagle Mines. This keeps attention high, but does not by itself change fundamentals. NEM or AEM: Which Is the Better Value Stock Right Now?
• Negative Sentiment: One note of caution is that Macquarie trimmed its price target on Newmont, even while keeping an outperform rating. That kind of revision can temper enthusiasm if investors worry about near-term upside. Macquarie adjusts price target on Newmont

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 3rd. Sanford C. Bernstein upgraded 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 research note on Friday, February 27th. Macquarie Infrastructure lowered their price objective on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday. Weiss Ratings lowered shares of Newmont from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 27th. Finally, Jefferies Financial Group boosted their price objective on shares of Newmont from $154.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.79.

Newmont Stock Up 2.5%

Shares of NEM opened at $108.46 on Wednesday. Newmont Corporation has a 52 week low of $55.37 and a 52 week high of $134.88. The firm has a market cap of $115.79 billion, a P/E ratio of 14.07, a price-to-earnings-growth ratio of 1.75 and a beta of 0.42. The firm’s 50-day simple moving average is $110.66 and its 200 day simple moving average is $110.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44.

Newmont (NYSE:NEM) last announced its 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 firm had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same quarter in the prior year, the business posted $1.25 EPS. The business’s revenue was up 45.8% compared to the same quarter last year. On average, analysts forecast that Newmont Corporation will post 9.91 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently announced 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 of this dividend is Wednesday, May 27th. This represents a $1.04 annualized dividend 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.