Kornitzer Capital Management Inc. KS Sells 5,595 Shares of Newmont Corporation $NEM

Kornitzer Capital Management Inc. KS lowered its position in shares of Newmont Corporation (NYSE:NEM) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 273,825 shares of the basic materials company’s stock after selling 5,595 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Newmont were worth $27,341,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GoalVest Advisory LLC bought a new stake in shares of Newmont in the 4th quarter valued at about $25,000. Physician Wealth Advisors Inc. lifted its stake 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 acquiring an additional 236 shares during the last quarter. JPL Wealth Management LLC bought a new stake in shares of Newmont in the 3rd quarter valued at about $27,000. Lodestone Wealth Management LLC bought a new stake in shares of Newmont in the 4th quarter valued at about $28,000. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of Newmont in the 4th quarter valued at about $30,000. Institutional investors own 68.85% of the company’s stock.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were 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 directly owned 52,315 shares of the company’s stock, valued at approximately $5,916,303.35. This trade represents a 5.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David James Fry sold 18,394 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the sale, the insider directly owned 17,147 shares of the company’s stock, valued at approximately $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 24,394 shares of company stock valued at $2,713,281. Corporate insiders own 0.06% of the company’s stock.

Newmont Trading Down 2.3%

NYSE:NEM opened at $108.58 on Friday. The company has a 50-day moving average price of $113.57 and a 200-day moving average price of $105.35. Newmont Corporation has a 12 month low of $48.27 and a 12 month high of $134.88. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The stock has a market cap of $115.91 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 2.03 and a beta of 0.46.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The firm had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same period last year, the company posted $1.25 EPS. The company’s quarterly revenue was up 45.8% compared to the same quarter last year. Equities analysts predict that Newmont Corporation will post 9.47 EPS for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is currently 13.49%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NEM. Bank of America boosted their target price on Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Raymond James Financial boosted their target price on Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, January 15th. Jefferies Financial Group boosted their target price on Newmont from $162.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, April 10th. TD Cowen reissued a “buy” rating on shares of Newmont in a research note on Monday. Finally, Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Friday, April 3rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and a consensus price target of $142.51.

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.