Cwm LLC Buys 79,617 Shares of Newmont Corporation $NEM

Cwm LLC grew its stake in shares of Newmont Corporation (NYSE:NEM) by 64.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 202,892 shares of the basic materials company’s stock after acquiring an additional 79,617 shares during the quarter. Cwm LLC’s holdings in Newmont were worth $20,259,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NEM. GoalVest Advisory LLC purchased a new position in shares of Newmont in the fourth quarter worth $25,000. Physician Wealth Advisors Inc. raised its stake in shares of Newmont by 327.8% in the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 236 shares during the last quarter. JPL Wealth Management LLC purchased a new position in shares of Newmont in the third quarter worth $27,000. Lodestone Wealth Management LLC purchased a new position in shares of Newmont in the fourth quarter worth $28,000. Finally, Caldwell Trust Co purchased a new position in shares of Newmont in the second quarter worth $31,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of Newmont stock opened at $116.50 on Friday. The stock’s 50-day simple moving average is $115.51 and its 200-day simple moving average is $103.72. Newmont Corporation has a 52 week low of $48.27 and a 52 week high of $134.88. The company has a market capitalization of $125.81 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 0.87 and a beta of 0.46. The company has a quick ratio of 2.02, a current ratio of 2.29 and a debt-to-equity ratio of 0.16.

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

Newmont Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Tuesday, March 3rd were given a $0.26 dividend. The ex-dividend date was Tuesday, March 3rd. This is a positive change from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. Newmont’s dividend payout ratio (DPR) is presently 16.28%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NEM. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Newmont in a report on Monday, December 29th. Sanford C. Bernstein raised Newmont from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $121.00 to $157.00 in a report on Friday, February 27th. Bank of America boosted their price target on Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Finally, UBS Group cut their price target on Newmont from $150.00 to $140.00 and set a “buy” rating for the company in a report on Friday, March 27th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average target price of $133.38.

Insider Activity

In other news, insider David James Fry sold 18,394 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $111.45, for a total value of $2,050,011.30. Following the transaction, the insider directly owned 17,147 shares in the company, valued at $1,911,033.15. The trade was a 51.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $113.09, for a total value of $339,270.00. Following the completion of the sale, the executive vice president owned 52,315 shares in the company, valued at $5,916,303.35. This represents a 5.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 24,394 shares of company stock worth $2,713,281 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Newmont Company 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.