CI Investments Inc. Sells 37,781 Shares of Newmont Corporation $NEM

CI Investments Inc. lowered its position in Newmont Corporation (NYSE:NEM) by 10.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 326,463 shares of the basic materials company’s stock after selling 37,781 shares during the quarter. CI Investments Inc.’s holdings in Newmont were worth $27,524,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of NEM. Norges Bank purchased a new stake in Newmont in the second quarter worth about $919,170,000. Invesco Ltd. raised its holdings in shares of Newmont by 45.0% in the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock valued at $908,152,000 after purchasing an additional 4,839,447 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Newmont by 6.3% in the 2nd quarter. Legal & General Group Plc now owns 7,444,729 shares of the basic materials company’s stock valued at $433,236,000 after purchasing an additional 438,748 shares in the last quarter. Boston Partners lifted its position in shares of Newmont by 4,090.7% in the 2nd quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock worth $272,558,000 after purchasing an additional 4,532,263 shares during the period. Finally, National Pension Service boosted its stake in shares of Newmont by 2.7% during the third quarter. National Pension Service now owns 4,354,264 shares of the basic materials company’s stock valued at $367,108,000 after purchasing an additional 114,949 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Key Headlines Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Strong fundamentals: Newmont reported a large Q4 beat, record free cash flow and raised shareholder returns (dividend increase), which underpins longer-term investor support. Markets Seek Shelter as Gold Shines Brightest
• Positive Sentiment: Bullish analyst action: Citigroup bumped its price target to $150 and kept a “buy” stance, adding a material upside scenario for the stock. Citigroup Raises PT to $150
• Positive Sentiment: Upgrade tailwind: Sanford C. Bernstein recently upgraded Newmont, supporting investor demand from momentum and institutional buyers. Newmont Upgraded at Sanford C. Bernstein
• Positive Sentiment: Options activity: Unusually heavy call buying suggests some traders were positioned for further upside ahead of today’s moves (can amplify volatility). (No article link)
• Neutral Sentiment: Small analyst trim: TD Securities trimmed its target slightly to $118 with a “hold” rating — a modest change that by itself is unlikely to cause a large move but adds to mixed signals. BayStreet.CA
• Negative Sentiment: Gold pullback / sector profit-taking: Reports point to a retreat in bullion that triggered broad selling across gold miners and forced short-term profit-taking after a recent rally — the most direct driver of today’s decline. Newmont slides as gold pulls back
• Negative Sentiment: Headline coverage of the drop: Market commentary (including The Motley Fool) highlights the sharp, short-term selling and frames the move as tied to shifting risk sentiment rather than company deterioration. Why Newmont Corporation Stock Just Dropped
• Negative Sentiment: Conflicting analyst views & institutional flows: Alongside upgrades, some firms (e.g., CIBC) have cut targets sharply and Quiver’s data shows sizeable institutional rebalancing and insider selling that can exacerbate downside on a weak metals tape. CIBC Cuts Newmont Price Target

Newmont Trading Down 8.0%

Shares of Newmont stock opened at $118.45 on Wednesday. The stock has a market cap of $128.86 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 1.08 and a beta of 0.39. The firm has a fifty day moving average price of $116.52 and a 200 day moving average price of $96.11. Newmont Corporation has a 1 year low of $41.93 and a 1 year high of $134.88. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.02.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, February 19th. The basic materials company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.71. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.18 billion. During the same quarter last year, the company earned $1.40 EPS. The business’s revenue was up 20.6% on a year-over-year basis. Equities research analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Tuesday, March 3rd will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. This is a boost from Newmont’s previous quarterly dividend of $0.25. Newmont’s dividend payout ratio is 15.65%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NEM shares. Jefferies Financial Group upped their price objective on Newmont from $136.00 to $158.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. UBS Group lowered their price target on shares of Newmont from $160.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Argus boosted their price objective on shares of Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of Newmont in a research report on Monday, December 29th. Finally, DZ Bank raised shares of Newmont to a “strong-buy” rating in a report on Monday, January 19th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and a consensus price target of $133.68.

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.