Newmont Corporation $NEM Shares Sold by Vestcor Inc

Vestcor Inc decreased its position in shares of Newmont Corporation (NYSE:NEM) by 11.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 58,697 shares of the basic materials company’s stock after selling 7,532 shares during the quarter. Vestcor Inc’s holdings in Newmont were worth $4,949,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Physician Wealth Advisors Inc. boosted its position in shares of Newmont by 327.8% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 236 shares during the period. Capital A Wealth Management LLC grew its stake in Newmont by 1,648.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock worth $30,000 after buying an additional 478 shares during the last quarter. Caldwell Trust Co acquired a new position in Newmont during the second quarter worth approximately $31,000. Country Trust Bank purchased a new stake in Newmont in the second quarter valued at approximately $32,000. Finally, CoreFirst Bank & Trust purchased a new stake in Newmont in the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NEM opened at $117.06 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.02 and a current ratio of 2.29. The stock has a market capitalization of $127.34 billion, a P/E ratio of 18.32, a P/E/G ratio of 0.92 and a beta of 0.39. The company’s fifty day moving average is $117.60 and its two-hundred day moving average is $97.47. Newmont Corporation has a 1 year low of $42.03 and a 1 year high of $134.88.

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

Newmont Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Tuesday, March 3rd will be given a $0.26 dividend. The ex-dividend date is Tuesday, March 3rd. This is an increase from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. Newmont’s payout ratio is 16.28%.

Newmont News Roundup

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: BofA raised its price target on NEM to $151 and reiterated a Buy — part of a broader analyst re?rating that supports upside expectations for Newmont. Why Newmont Corporation (NEM) Is Gaining Analyst Attention
• Positive Sentiment: Citi lifted its price target to $150 (from $118) and reiterated a Buy, signaling renewed confidence in Newmont’s earnings power and valuation. Citi Lifts PT on Newmont Corporation (NEM) to $150 from $118 – Here’s Why
• Positive Sentiment: Zacks and other outlets highlight bullish Q1 earnings estimates and favorable long?term growth/valuation metrics, supporting expectations for continued beat?and?raise performance. Zacks Research Has Bullish Estimate for Newmont Q1 Earnings
• Positive Sentiment: Wall Street Zen upgraded Newmont to Buy, adding to the momentum from multiple buy?side and sell?side upgrades. Wall Street Zen Upgrades Newmont (NYSE:NEM) to Buy
• Neutral Sentiment: Zacks and Yahoo features note Newmont as a trending and top?growth stock based on style scores and investor attention — useful context but not an immediate price catalyst by itself. Here is What to Know Beyond Why Newmont Corporation (NEM) is a Trending Stock
• Negative Sentiment: The Motley Fool flagged two macroeconomic factors driving weakness in Newmont today — broader pressure on gold/miners from rates and dollar/market moves — which can mute gains even amid positive analyst actions. Why Newmont Corporation Stock Dropped Today

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NEM. Wall Street Zen upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research report on Sunday. Citigroup upped their price target on shares of Newmont from $118.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. BNP Paribas Exane increased their price target on shares of Newmont from $123.00 to $128.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Canadian Imperial Bank of Commerce dropped their price objective on shares of Newmont from $71.00 to $67.00 in a research note on Friday, February 27th. Finally, DZ Bank raised shares of Newmont to a “strong-buy” rating in a report on Monday, January 19th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $134.15.

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.