Sanctuary Advisors LLC Has $13.14 Million Stake in Newmont Corporation $NEM

Sanctuary Advisors LLC boosted its position in shares of Newmont Corporation (NYSE:NEM) by 66.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,354 shares of the basic materials company’s stock after acquiring an additional 48,352 shares during the quarter. Sanctuary Advisors LLC’s holdings in Newmont were worth $13,137,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CWM LLC raised its stake in Newmont by 64.6% in the 4th quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock valued at $20,259,000 after acquiring an additional 79,617 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Newmont by 24.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock worth $30,775,000 after purchasing an additional 54,530 shares during the period. Leonteq Securities AG bought a new position in Newmont during the fourth quarter worth $9,018,000. ARS Investment Partners LLC increased its holdings in shares of Newmont by 3.6% in the fourth quarter. ARS Investment Partners LLC now owns 697,063 shares of the basic materials company’s stock valued at $69,602,000 after purchasing an additional 23,900 shares during the last quarter. Finally, Ritholtz Wealth Management increased its holdings in shares of Newmont by 67.0% in the fourth quarter. Ritholtz Wealth Management now owns 40,754 shares of the basic materials company’s stock valued at $4,069,000 after purchasing an additional 16,352 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NEM shares. Jefferies Financial Group cut their target price on shares of Newmont from $158.00 to $146.00 and set a “buy” rating for the company in a research note on Monday, July 6th. TD Cowen reissued a “buy” rating on shares of Newmont in a report on Monday, April 27th. Barclays cut their price objective on shares of Newmont from $133.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday. The Goldman Sachs Group decreased their target price on Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Finally, Canadian Imperial Bank of Commerce set a $175.00 target price on Newmont and gave the stock an “outperform” rating in a research note on Monday, June 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $136.26.

Newmont Price Performance

NYSE:NEM opened at $90.83 on Friday. Newmont Corporation has a 52 week low of $56.73 and a 52 week high of $134.88. The firm has a market cap of $96.96 billion, a price-to-earnings ratio of 11.78, a P/E/G ratio of 1.08 and a beta of 0.46. The firm’s 50-day simple moving average is $102.85 and its 200 day simple moving average is $110.35. 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 posted its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter in the previous year, the firm posted $1.25 EPS. The business’s revenue for the quarter was up 45.8% compared to the same quarter last year. As a group, sell-side analysts predict that Newmont Corporation will post 9.32 earnings per share for the current year.

Newmont Dividend Announcement

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

Insider Buying and Selling

In other Newmont news, CEO Natascha Viljoen sold 3,882 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was 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 trade represents a 2.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 on 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 transaction, the insider directly owned 23,163 shares of the company’s stock, valued at $2,550,477.93. This represents a 9.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In the last ninety days, insiders have sold 28,556 shares of company stock valued at $3,058,146. 0.06% of the stock is currently owned by corporate insiders.

Newmont News Summary

Here are the key news stories impacting Newmont this week:

• Negative Sentiment: Zacks Research downgraded Newmont from “strong-buy” to “hold,” adding to near-term pressure on the stock. Newmont was downgraded by Zacks Research from “strong-buy” to “hold”.
• Negative Sentiment: Investors are also worried about the upcoming quarterly report, as coverage notes Newmont may not have the setup for an earnings beat even though EPS is expected to grow. Newmont Corporation (NEM) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Neutral Sentiment: Newmont resumed operations at its Cadia mine after a seismic event, and management said inspections found no injuries or damage. That removes an operational overhang, but the company still faces higher costs and softer gold prices. Newmont (NEM) Resumes Cadia Operations As It Pushes Ahead With Key Growth Projects
• Positive Sentiment: Several analysts remain constructive, with reports pointing to improved operational efficiency, growing free cash flow, and share buybacks as Newmont works through Newcrest integration. Did Analyst Upgrades and Buybacks Just Shift Newmont’s (NEM) Operational Efficiency Investment Narrative?
• Positive Sentiment: Some analysts also argued Newmont looks undervalued, citing permits that could unlock major copper-gold resources and support a production rebound. Newmont: The Permits That Set The Stage For A Re-Rating

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.