Monument Capital Management Makes New $1.14 Million Investment in Newmont Co. (NYSE:NEM)

Monument Capital Management acquired a new position in shares of Newmont Co. (NYSE:NEMGet Rating) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 14,394 shares of the basic materials company’s stock, valued at approximately $1,144,000.

Several other institutional investors and hedge funds also recently modified their holdings of NEM. State Street Corp increased its position in shares of Newmont by 1.6% during the fourth quarter. State Street Corp now owns 40,349,321 shares of the basic materials company’s stock worth $2,502,465,000 after acquiring an additional 616,798 shares during the last quarter. Van ECK Associates Corp boosted its stake in Newmont by 6.0% in the fourth quarter. Van ECK Associates Corp now owns 39,746,651 shares of the basic materials company’s stock valued at $2,465,087,000 after acquiring an additional 2,256,671 shares during the period. Flossbach Von Storch AG boosted its stake in Newmont by 0.9% in the fourth quarter. Flossbach Von Storch AG now owns 17,186,588 shares of the basic materials company’s stock valued at $1,065,912,000 after acquiring an additional 147,793 shares during the period. Geode Capital Management LLC boosted its stake in Newmont by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 12,994,833 shares of the basic materials company’s stock valued at $803,531,000 after acquiring an additional 330,167 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Newmont by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,105,445 shares of the basic materials company’s stock valued at $750,781,000 after acquiring an additional 450,404 shares during the period. Institutional investors own 78.41% of the company’s stock.

Several equities analysts have recently issued reports on the company. Canaccord Genuity Group reduced their price objective on Newmont from $87.00 to $80.00 in a research report on Tuesday, April 26th. National Bankshares cut their target price on Newmont from $119.00 to $115.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 26th. Canaccord Genuity Group cut their target price on Newmont from $87.00 to $80.00 and set a “hold” rating for the company in a research report on Tuesday, April 26th. StockNews.com began coverage on Newmont in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, TD Securities dropped their price target on shares of Newmont from $82.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, April 25th. Fifteen investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Newmont presently has an average rating of “Hold” and a consensus price target of $75.43.

In related news, EVP Nancy Lipson sold 19,866 shares of the firm’s stock in a transaction dated Wednesday, March 30th. The shares were sold at an average price of $79.00, for a total transaction of $1,569,414.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 11,000 shares of the stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $71.20, for a total transaction of $783,200.00. Following the transaction, the chief executive officer now owns 287,949 shares of the company’s stock, valued at approximately $20,501,968.80. The disclosure for this sale can be found here. Insiders sold 61,866 shares of company stock worth $4,569,694 over the last ninety days. Insiders own 0.11% of the company’s stock.

Shares of NYSE:NEM traded down $0.37 during midday trading on Thursday, hitting $64.21. The stock had a trading volume of 221,741 shares, compared to its average volume of 5,575,428. The company’s 50-day moving average price is $69.87 and its 200-day moving average price is $67.99. The company has a market capitalization of $50.96 billion, a P/E ratio of 49.30 and a beta of 0.37. The company has a quick ratio of 2.53, a current ratio of 2.92 and a debt-to-equity ratio of 0.28. Newmont Co. has a fifty-two week low of $52.60 and a fifty-two week high of $86.37.

Newmont (NYSE:NEMGet Rating) last released its quarterly earnings data on Friday, April 22nd. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.02). Newmont had a return on equity of 10.24% and a net margin of 8.53%. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the prior year, the company earned $0.74 earnings per share. Newmont’s revenue for the quarter was up 5.3% compared to the same quarter last year. Research analysts expect that Newmont Co. will post 3.43 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, June 16th. Investors of record on Thursday, June 2nd were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.43%. The ex-dividend date was Wednesday, June 1st. Newmont’s dividend payout ratio is presently 167.94%.

Newmont Company Profile (Get Rating)

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.

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Institutional Ownership by Quarter for Newmont (NYSE:NEM)

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