Commerzbank Aktiengesellschaft FI raised its stake in shares of Newmont Corporation (NYSE:NEM – Free Report) by 22.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,471 shares of the basic materials company’s stock after purchasing an additional 6,019 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Newmont were worth $3,242,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NEM. GoalVest Advisory LLC acquired a new position in Newmont during the fourth quarter valued at approximately $25,000. Physician Wealth Advisors Inc. grew its holdings in Newmont by 327.8% during the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 236 shares during the last quarter. Cornerstone Planning Group LLC grew its holdings in Newmont by 312.1% during the fourth 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 during the last quarter. JPL Wealth Management LLC acquired a new position in Newmont during the third quarter valued at approximately $27,000. Finally, Lodestone Wealth Management LLC acquired a new position in Newmont during the fourth quarter valued at approximately $28,000. Institutional investors and hedge funds own 68.85% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have commented on NEM shares. Royal Bank Of Canada increased their price target on Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. National Bank Financial increased their price target on Newmont from $130.00 to $140.00 and gave the company a “sector perform” rating in a report on Friday, April 24th. Wall Street Zen upgraded Newmont from a “buy” rating to a “strong-buy” rating in a report on Saturday. TD Securities reissued a “hold” rating and issued a $129.00 price objective on shares of Newmont in a research report on Monday, April 27th. Finally, TD Cowen reissued a “buy” rating on shares of Newmont in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.51.
Insider Transactions at Newmont
In related news, insider David James Fry sold 18,394 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $111.45, for a total value of $2,050,011.30. Following the completion of the transaction, the insider directly owned 17,147 shares of the company’s stock, valued at $1,911,033.15. This trade represents a 51.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 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 $330,330.00. Following the completion of the transaction, the executive vice president directly owned 49,315 shares of the company’s stock, valued at approximately $5,430,074.65. This trade represents a 5.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 43,068 shares of company stock valued at $4,769,475 in the last ninety days. 0.06% of the stock is owned by company insiders.
Newmont Stock Down 6.4%
NEM opened at $108.93 on Friday. Newmont Corporation has a 1-year low of $48.61 and a 1-year high of $134.88. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $116.29 billion, a price-to-earnings ratio of 14.13, a P/E/G ratio of 1.52 and a beta of 0.43. The business has a 50 day moving average of $111.96 and a 200-day moving average of $107.04.
Newmont (NYSE:NEM – Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating 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 company had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same period in the prior year, the business earned $1.25 earnings per share. Newmont’s revenue for the quarter was up 45.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Newmont Corporation will post 9.72 earnings per share for the current year.
Newmont Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is 13.49%.
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.
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