Expressive Wealth LLC Makes New Investment in Newmont Corporation $NEM

Expressive Wealth LLC purchased a new stake in Newmont Corporation (NYSE:NEM) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 7,090 shares of the basic materials company’s stock, valued at approximately $708,000. Newmont accounts for approximately 0.8% of Expressive Wealth LLC’s holdings, making the stock its 29th biggest position.

A number of other hedge funds also recently made changes to their positions in the stock. Williamson Legacy Group LLC acquired a new stake in shares of Newmont in the 4th quarter valued at approximately $2,792,000. Syverson Strege & Co acquired a new stake in shares of Newmont in the 4th quarter valued at approximately $244,000. Flputnam Investment Management Co. boosted its stake in shares of Newmont by 3.2% in the 4th quarter. Flputnam Investment Management Co. now owns 7,669 shares of the basic materials company’s stock valued at $766,000 after purchasing an additional 237 shares in the last quarter. Integrity Alliance LLC. boosted its stake in shares of Newmont by 13.2% in the 4th quarter. Integrity Alliance LLC. now owns 12,696 shares of the basic materials company’s stock valued at $1,268,000 after purchasing an additional 1,479 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC boosted its stake in shares of Newmont by 6.2% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 1,832 shares of the basic materials company’s stock valued at $183,000 after purchasing an additional 107 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Up 3.6%

Shares of NYSE NEM opened at $111.49 on Wednesday. The company has a 50 day simple moving average of $110.94 and a 200 day simple moving average of $108.60. The firm has a market cap of $119.02 billion, a PE ratio of 14.46 and a beta of 0.43. Newmont Corporation has a 1 year low of $51.80 and a 1 year high of $134.88. 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 issued its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The business had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same quarter last year, the business earned $1.25 EPS. The firm’s quarterly revenue was up 45.8% on a year-over-year basis. On average, research analysts forecast that Newmont Corporation will post 9.47 EPS for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be issued a dividend of $0.26 per share. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 0.9%. Newmont’s dividend payout ratio (DPR) is presently 13.49%.

Insider Activity

In other Newmont news, EVP Peter Wexler sold 13,378 shares of the firm’s 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 $1,473,051.58. Following the completion of the transaction, the executive vice president owned 67,865 shares in the company, valued at approximately $7,472,615.15. This trade represents a 16.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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, insider David James Fry sold 18,394 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider owned 17,147 shares of the company’s stock, valued at approximately $1,911,033.15. The trade was a 51.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 43,068 shares of company stock worth $4,769,475 in the last 90 days. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

NEM has been the topic of a number of research analyst reports. Zacks Research downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 3rd. Stifel Nicolaus raised their price target on shares of Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. TD Cowen restated a “buy” rating on shares of Newmont in a research note on Monday, April 27th. Canadian Imperial Bank of Commerce reduced their price target on shares of Newmont from $177.00 to $176.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 21st. Finally, Macquarie Infrastructure raised their price objective on shares of Newmont from $130.00 to $133.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.05.

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.