1,664,404 Shares in Newmont Corporation $NEM Purchased by Life Cycle Investment Partners Ltd

Life Cycle Investment Partners Ltd acquired a new position in shares of Newmont Corporation (NYSE:NEM) during the 4th quarter, Holdings Channel.com reports. The fund acquired 1,664,404 shares of the basic materials company’s stock, valued at approximately $166,191,000. Newmont makes up about 1.2% of Life Cycle Investment Partners Ltd’s holdings, making the stock its 23rd biggest position.

Several other large investors have also recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. grew its stake in Newmont by 3,224.7% during the fourth quarter. Jefferies Financial Group Inc. now owns 86,144 shares of the basic materials company’s stock worth $8,601,000 after buying an additional 83,553 shares during the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC bought a new stake in Newmont during the fourth quarter worth about $235,000. CFO4Life Group LLC bought a new stake in shares of Newmont during the fourth quarter valued at approximately $234,000. EverSource Wealth Advisors LLC grew its stake in shares of Newmont by 18.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 12,297 shares of the basic materials company’s stock valued at $1,228,000 after purchasing an additional 1,954 shares during the last quarter. Finally, New World Advisors LLC bought a new stake in shares of Newmont during the fourth quarter valued at approximately $243,000. 68.85% of the stock is owned by institutional investors.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $330,330.00. Following the sale, the executive vice president directly owned 49,315 shares in the company, valued at approximately $5,430,074.65. This trade represents a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $252,812.56. Following the completion of the sale, the insider owned 23,163 shares in the company, valued at approximately $2,550,477.93. This trade represents a 9.02% decrease in their ownership of the stock. 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. In the last ninety days, insiders have sold 43,068 shares of company stock valued at $4,769,475. 0.06% of the stock is currently owned by company insiders.

Newmont Trading Down 0.5%

NEM opened at $107.74 on Friday. The firm’s fifty day moving average is $111.03 and its two-hundred day moving average is $108.00. 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 firm has a market cap of $115.02 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 1.54 and a beta of 0.43. Newmont Corporation has a twelve month low of $51.80 and a twelve month high of $134.88.

Newmont (NYSE:NEM) last posted its 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 for the quarter, compared to analyst estimates of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The business’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period last year, the business posted $1.25 earnings per share. Equities research analysts anticipate that Newmont Corporation will post 9.47 EPS for the current year.

Newmont Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently commented on NEM shares. National Bank Financial increased their price target on shares of Newmont from $130.00 to $140.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. Sanford C. Bernstein raised shares of Newmont from a “market perform” rating to an “outperform” rating and increased their price target for the company from $121.00 to $157.00 in a research note on Friday, February 27th. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 3rd. TD Cowen reaffirmed a “buy” rating on shares of Newmont in a research note on Monday, April 27th. Finally, Stifel Nicolaus raised their price objective 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. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $142.05.

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.