Xponance LLC Buys 9,311 Shares of Newmont Corporation $NEM

Xponance LLC raised its holdings in Newmont Corporation (NYSE:NEM) by 4.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 200,445 shares of the basic materials company’s stock after buying an additional 9,311 shares during the quarter. Xponance LLC’s holdings in Newmont were worth $20,014,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GoalVest Advisory LLC acquired a new stake in shares of Newmont in the 4th quarter valued at $25,000. Cornerstone Planning Group LLC boosted its stake in shares of Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 206 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Newmont in the 3rd quarter valued at $27,000. Lodestone Wealth Management LLC acquired a new stake in shares of Newmont in the 4th quarter valued at $28,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of Newmont in the 4th quarter valued at $30,000. Institutional investors own 68.85% of the company’s stock.

Insider Activity

In related news, EVP Peter Wexler sold 13,378 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $1,473,051.58. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 John Thornton sold 2,296 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the transaction, the insider owned 23,163 shares in the company, valued at $2,550,477.93. The trade was a 9.02% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Over the last ninety days, insiders have sold 49,950 shares of company stock worth $5,494,288. Corporate insiders own 0.06% of the company’s stock.

Newmont Price Performance

NYSE NEM opened at $97.52 on Friday. The business has a 50 day simple moving average of $111.21 and a 200 day simple moving average of $110.05. Newmont Corporation has a 52-week low of $54.14 and a 52-week high of $134.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The stock has a market cap of $104.11 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 1.54 and a beta of 0.42.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.83. The company had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The business’s quarterly revenue was up 45.8% on a year-over-year basis. During the same period last year, the business earned $1.25 EPS. Analysts anticipate that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be given 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 1.1%. Newmont’s dividend payout ratio (DPR) is presently 13.49%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Macquarie Infrastructure boosted their target price on shares of Newmont from $130.00 to $133.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Jefferies Financial Group upped their price target on shares of Newmont from $154.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday. Citigroup upped their price target on shares of Newmont from $118.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. UBS Group reduced their price target on shares of Newmont from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Finally, TD Securities reiterated a “hold” rating and set a $129.00 price target on shares of Newmont in a research report on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.26.

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.