Newmont Corporation $NEM Shares Bought by Stephens Inc. AR

Stephens Inc. AR raised its holdings in shares of Newmont Corporation (NYSE:NEM) by 6.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 324,376 shares of the basic materials company’s stock after buying an additional 18,674 shares during the quarter. Stephens Inc. AR’s holdings in Newmont were worth $35,114,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NEM. GoalVest Advisory LLC purchased a new position in shares of Newmont during the fourth quarter worth $25,000. Pinnacle Bancorp Inc. acquired a new stake in Newmont during the 1st quarter worth about $25,000. Swiss RE Ltd. purchased a new position in shares of Newmont during the 4th quarter valued at about $26,000. Cornerstone Planning Group LLC boosted its stake in shares of Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after buying an additional 206 shares during the last quarter. Finally, JPL Wealth Management LLC acquired a new stake in Newmont during the third quarter worth about $27,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Down 0.1%

Newmont stock opened at $96.95 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The stock has a market capitalization of $103.50 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 1.61 and a beta of 0.46. The business has a 50 day simple moving average of $106.12 and a 200-day simple moving average of $110.86. Newmont Corporation has a 12 month low of $55.37 and a 12 month high of $134.88.

Newmont (NYSE:NEM) last announced its earnings results 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 return on equity of 27.84% and a net margin of 33.87%.The firm had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same quarter last year, the firm posted $1.25 EPS. The business’s revenue was up 45.8% on a year-over-year basis. On average, analysts anticipate that Newmont Corporation will post 9.87 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is presently 13.49%.

Insider Activity at Newmont

In related news, insider David John Thornton sold 2,296 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction 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. This represents a 9.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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, EVP Peter Wexler sold 13,378 shares of Newmont stock in a transaction dated 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 completion of the sale, the executive vice president owned 67,865 shares in the company, valued at approximately $7,472,615.15. The trade was a 16.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold 25,556 shares of company stock worth $2,781,006 in the last ninety days. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

NEM has been the subject of a number of analyst reports. Weiss Ratings downgraded Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. UBS Group decreased their target price on shares of Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. TD Cowen reissued a “buy” rating on shares of Newmont in a report on Monday, April 27th. Jefferies Financial Group lifted their price objective on shares of Newmont from $154.00 to $158.00 and gave the company a “buy” rating in a report on Monday, June 8th. Finally, BNP Paribas Exane decreased their price objective on shares of Newmont from $128.00 to $111.00 and set a “neutral” rating for the company in a research report on Thursday, June 18th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.35.

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.