Stone Wealth Partners Makes New Investment in Newmont Corporation $NEM

Stone Wealth Partners acquired a new stake in Newmont Corporation (NYSE:NEM) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,874 shares of the basic materials company’s stock, valued at approximately $587,000.

A number of other hedge funds have also recently made changes to their positions in NEM. Monetary Solutions Ltd bought a new stake in shares of Newmont during the fourth quarter worth about $88,000. Kera Capital Partners Inc. bought a new position in Newmont in the 4th quarter valued at about $312,000. Virtu Financial LLC bought a new position in Newmont in the 4th quarter valued at about $1,359,000. MV Capital Management Inc. acquired a new position in Newmont during the 4th quarter valued at about $67,000. Finally, Dorsey Wright & Associates increased its holdings in Newmont by 7.0% during the 4th quarter. Dorsey Wright & Associates now owns 150,179 shares of the basic materials company’s stock worth $14,995,000 after purchasing an additional 9,834 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Several recent reports remain constructive on Newmont’s longer-term outlook, including coverage highlighting the company as a key name in gold mining and analyst commentary pointing to meaningful upside versus current levels. Why Newmont Remains a Key Name In Gold Mining?
• Positive Sentiment: Zacks Research upgraded Newmont from “hold” to “strong-buy,” while another Zacks piece said the stock could have about 30% upside based on Wall Street price targets, reinforcing bullish analyst sentiment. Does Newmont (NEM) Have the Potential to Rally 30.14% as Wall Street Analysts Expect?
• Neutral Sentiment: Newmont announced a management refresh, including new CFO, COO, and technical chief appointments effective July 1. This could support execution over time, but near-term investors may be waiting to see how the new team performs. Newmont (NEM) Appoints New CFO COO And Technical Chief Under Natascha Viljoen
• Negative Sentiment: BNP Paribas Exane cut its price target on Newmont from $128 to $111 and kept a “neutral” rating, which may be weighing on sentiment despite the target still sitting above the current share price. BNP Paribas Exane adjusts price target on Newmont to 111 from 128, maintains neutral rating
• Negative Sentiment: Recent trading commentary noted that Newmont fell even as the broader market moved higher, suggesting investors are taking profits or reacting cautiously after a strong run in the stock. Newmont Corporation (NEM) Stock Falls Amid Market Uptick: What Investors Need to Know

Insider Activity at Newmont

In other news, insider David John Thornton sold 2,296 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction 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 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Natascha Viljoen sold 3,882 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer owned 142,999 shares of the company’s stock, valued at approximately $15,060,654.68. The trade was a 2.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 28,556 shares of company stock worth $3,120,276. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

NEM has been the topic of a number of recent research reports. Zacks Research upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Monday. Weiss Ratings downgraded Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Wall Street Zen cut Newmont from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 30th. Jefferies Financial Group upped their target price 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. Finally, BMO Capital Markets raised their price target on shares of Newmont from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Newmont has an average rating of “Moderate Buy” and an average price target of $140.98.

Newmont Stock Down 1.7%

Shares of NYSE:NEM opened at $103.86 on Friday. Newmont Corporation has a 1 year low of $55.37 and a 1 year high of $134.88. The company has a market capitalization of $110.88 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 1.75 and a beta of 0.42. The business has a fifty day moving average price of $110.31 and a two-hundred day moving average price of $110.61. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. The company had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.25 EPS. Analysts forecast that Newmont Corporation will post 9.91 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is 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.