M Holdings Securities Inc. increased its position in Newmont Corporation (NYSE:NEM – Free Report) by 248.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 37,996 shares of the basic materials company’s stock after buying an additional 27,102 shares during the quarter. M Holdings Securities Inc.’s holdings in Newmont were worth $3,794,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of NEM. Norges Bank bought a new stake in Newmont in the 4th quarter worth approximately $1,443,128,000. Assetmark Inc. lifted its position in Newmont by 398.3% in the 4th quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock worth $286,619,000 after buying an additional 2,294,396 shares during the last quarter. Boston Partners lifted its position in Newmont by 49.3% in the 3rd quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock worth $585,828,000 after buying an additional 2,288,653 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Newmont by 106.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,155,210 shares of the basic materials company’s stock worth $349,288,000 after buying an additional 2,146,905 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Newmont by 142.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,262,258 shares of the basic materials company’s stock worth $189,963,000 after buying an additional 1,914,286 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.
Newmont Price Performance
Shares of Newmont stock opened at $92.76 on Thursday. 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 business’s 50 day simple moving average is $111.42 and its two-hundred day simple moving average is $109.95. The stock has a market capitalization of $99.02 billion, a P/E ratio of 12.03, a price-to-earnings-growth ratio of 1.63 and a beta of 0.42. Newmont Corporation has a one year low of $52.42 and a one year high of $134.88.
Newmont Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 annualized dividend and a dividend yield of 1.1%. Newmont’s payout ratio is 13.49%.
Insider Activity
In other news, EVP Peter Wexler sold 13,378 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the transaction, the executive vice president directly owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. The trade was a 16.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the transaction, the insider directly owned 23,163 shares in the company, valued at $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 sold 49,950 shares of company stock valued at $5,494,288. 0.06% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of research firms recently weighed in on NEM. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 3rd. Jefferies Financial Group boosted their target price on Newmont from $154.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday. Bank of America boosted their target price on Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. TD boosted their target price on Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. Finally, Royal Bank Of Canada dropped their target price on Newmont from $160.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, June 3rd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and a consensus target price of $142.26.
Check Out Our Latest Analysis on Newmont
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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