Recurrent Investment Advisors LLC Has $1.93 Million Stock Holdings in Newmont Co. (NYSE:NEM)

Recurrent Investment Advisors LLC boosted its position in Newmont Co. (NYSE:NEM) by 83.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,839 shares of the basic materials company’s stock after buying an additional 23,591 shares during the period. Recurrent Investment Advisors LLC’s holdings in Newmont were worth $1,929,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in NEM. HHM Wealth Advisors LLC increased its holdings in shares of Newmont by 66.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 350 shares in the last quarter. Redwood Park Advisors LLC acquired a new stake in Newmont in the 4th quarter valued at $37,000. Promus Capital LLC bought a new stake in Newmont during the 4th quarter valued at $38,000. Kestra Investment Management LLC bought a new stake in Newmont during the 4th quarter valued at $43,000. Finally, Assetmark Inc. raised its holdings in Newmont by 185.9% during the fourth quarter. Assetmark Inc. now owns 1,261 shares of the basic materials company’s stock worth $47,000 after buying an additional 820 shares during the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Trading Down 3.0%

Shares of Newmont stock opened at $48.58 on Thursday. The firm has a market cap of $54.07 billion, a PE ratio of 16.58, a P/E/G ratio of 0.41 and a beta of 0.31. Newmont Co. has a 1 year low of $36.86 and a 1 year high of $58.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. The stock has a fifty day moving average price of $50.05 and a 200-day moving average price of $44.96.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.54. The business had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.82 billion. Newmont had a net margin of 17.92% and a return on equity of 13.52%. During the same quarter last year, the company posted $0.55 earnings per share. Equities research analysts anticipate that Newmont Co. will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, May 27th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 2.06%. Newmont’s payout ratio is currently 22.42%.

Insider Buying and Selling

In other news, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $51.48, for a total value of $106,923.96. Following the completion of the transaction, the director now owns 47,257 shares in the company, valued at $2,432,790.36. This trade represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total transaction of $131,130.00. Following the sale, the executive vice president now owns 86,526 shares in the company, valued at $3,782,051.46. The trade was a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,154 shares of company stock valued at $328,840. 0.05% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of analyst reports. Raymond James reiterated an “outperform” rating and set a $66.00 price objective on shares of Newmont in a report on Friday, April 25th. Argus set a $63.00 price target on shares of Newmont in a research report on Friday, April 25th. National Bankshares reiterated a “sector perform” rating on shares of Newmont in a research note on Wednesday, April 23rd. TD Securities decreased their price objective on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, February 26th. Finally, Cfra Research upgraded Newmont to a “strong-buy” rating in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and an average target price of $55.63.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.