M Holdings Securities Inc. Buys 27,102 Shares of Newmont Corporation $NEM

M Holdings Securities Inc. raised its stake in shares of Newmont Corporation (NYSE:NEM) by 248.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,996 shares of the basic materials company’s stock after acquiring an additional 27,102 shares during the period. M Holdings Securities Inc.’s holdings in Newmont were worth $3,794,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of NEM. Norges Bank bought a new position in Newmont during the 4th quarter valued at $1,443,128,000. Assetmark Inc. lifted its stake in Newmont by 398.3% during the 4th quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock valued at $286,619,000 after acquiring an additional 2,294,396 shares in the last quarter. Boston Partners lifted its stake in Newmont by 49.3% during the 3rd quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock valued at $585,828,000 after acquiring an additional 2,288,653 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Newmont by 106.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,155,210 shares of the basic materials company’s stock valued at $349,288,000 after acquiring an additional 2,146,905 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Newmont by 142.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,262,258 shares of the basic materials company’s stock valued at $189,963,000 after acquiring an additional 1,914,286 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on NEM shares. Citigroup raised their price objective on Newmont from $118.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Sanford C. Bernstein upgraded Newmont from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $121.00 to $157.00 in a research note on Friday, February 27th. Canadian Imperial Bank of Commerce set a $175.00 price objective on Newmont and gave the company an “outperform” rating in a research note on Monday, June 1st. Wall Street Zen cut Newmont from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 30th. Finally, Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 3rd. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of $142.26.

Newmont Stock Down 5.9%

Shares of NYSE NEM opened at $92.76 on Thursday. Newmont Corporation has a 52 week low of $52.42 and a 52 week high of $134.88. The business has a 50-day simple moving average of $111.42 and a two-hundred day simple moving average of $109.95. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The company has a market cap of $99.02 billion, a P/E ratio of 12.03, a P/E/G ratio of 1.63 and a beta of 0.42.

Newmont (NYSE:NEM) last issued 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 return on equity of 27.84% and a net margin of 33.87%.The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter last year, the company earned $1.25 EPS. The firm’s revenue was up 45.8% compared to the same quarter last year. Research analysts anticipate that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is 13.49%.

Insider Activity

In other news, insider David James Fry sold 18,394 shares of Newmont 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 owned 17,147 shares in the company, valued at approximately $1,911,033.15. This trade represents a 51.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the sale, the insider owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. This trade represents a 9.02% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last quarter, insiders have sold 49,950 shares of company stock worth $5,494,288. Company 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.