Newmont Corporation $NEM Shares Bought by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG boosted its stake in shares of Newmont Corporation (NYSE:NEM) by 26.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 87,289 shares of the basic materials company’s stock after purchasing an additional 18,037 shares during the period. J. Safra Sarasin Holding AG’s holdings in Newmont were worth $9,377,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NEM. GoalVest Advisory LLC acquired a new stake in Newmont during the fourth quarter worth about $25,000. Pinnacle Bancorp Inc. purchased a new stake in Newmont in the 1st quarter worth approximately $25,000. Cedar Mountain Advisors LLC purchased a new stake in Newmont in the 1st quarter worth approximately $25,000. Swiss RE Ltd. acquired a new stake in shares of Newmont during the 4th quarter worth approximately $26,000. Finally, Cornerstone Planning Group LLC grew its stake in shares of Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 206 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Trading Up 0.0%

NYSE NEM opened at $95.30 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The firm has a market cap of $101.74 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 1.08 and a beta of 0.46. The firm has a 50 day simple moving average of $104.35 and a 200-day simple moving average of $110.68. Newmont Corporation has a one year low of $55.37 and a one year high of $134.88.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.83. The firm had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The firm’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.25 EPS. Equities research analysts anticipate that Newmont Corporation will post 9.32 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Stockholders 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 dividend payout ratio (DPR) is presently 13.49%.

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont welcomed the Government of Canada’s CA$500 million funding commitment for the Red Chris Block Cave project, a move that improves the economics of a key copper-gold development and could extend the mine’s life. Newmont (NEM) Welcomes Canada Funding for Red Chris
• Positive Sentiment: UBS and Macquarie both reiterated Buy ratings on Newmont, while Bank of America also kept a Buy rating even after cutting its price target to $132, signaling analysts still see upside from current levels. UBS Keeps Their Buy Rating on Newmont Corporation CHESS (NEM)
• Positive Sentiment: Articles highlighting Newmont as undervalued and benefiting from a rebound in gold prices suggest investor interest is rising as the precious-metals trade improves. Newmont (NEM) Stock Looks Cheap On Earnings While Cash Flow Looks Fair
• Positive Sentiment: Recent trading has shown Newmont outperforming the broader market, with coverage citing renewed momentum in the stock and in gold-related names. Newmont Corporation (NEM) Outperforms Broader Market: What You Need to Know
• Neutral Sentiment: One valuation piece said Newmont looks close to fair value around the low-$90s, which may limit near-term enthusiasm even though it doesn’t signal a major downside concern. Newmont (NEM) Stock Looks Cheap On Earnings While Cash Flow Looks Fair
• Negative Sentiment: Despite the recent bounce, Newmont has still been under pressure over the past few months, and Bank of America’s price-target cut reflects some caution about the stock’s longer-term upside. Bank of America price target update on Newmont

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Scotiabank dropped their target price on Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a research report on Friday, March 20th. National Bank Financial upped their target price on shares of Newmont from $130.00 to $140.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. The Goldman Sachs Group cut their price target on Newmont from $122.50 to $111.40 and set a “buy” rating for the company in a report on Wednesday, July 1st. Barclays assumed coverage on shares of Newmont in a research note on Thursday, May 21st. They set an “overweight” rating and a $133.00 target price on the stock. Finally, TD Securities reaffirmed a “hold” rating and issued a $129.00 price target on shares of Newmont in a research note on Monday, April 27th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and an average price target of $137.64.

Insider Activity

In other Newmont news, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $408,852.24. Following the sale, the chief executive officer directly owned 142,999 shares of the company’s stock, valued at approximately $15,060,654.68. This represents a 2.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the firm’s stock in a transaction 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 sale, the insider owned 23,163 shares in the company, valued at $2,550,477.93. The trade was a 9.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last quarter, insiders have sold 28,556 shares of company stock worth $3,058,146. Insiders own 0.06% of the company’s stock.

About Newmont

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.