Visionary Horizons LLC Has $244,000 Position in Newmont Corporation $NEM

Visionary Horizons LLC reduced its stake in Newmont Corporation (NYSE:NEM) by 75.5% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,440 shares of the basic materials company’s stock after selling 7,515 shares during the quarter. Visionary Horizons LLC’s holdings in Newmont were worth $244,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Apella Capital LLC lifted its holdings in Newmont by 4.1% during the fourth quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock valued at $219,000 after purchasing an additional 86 shares during the last quarter. New Wave Wealth Advisors LLC increased its position in shares of Newmont by 1.3% in the fourth quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock worth $684,000 after purchasing an additional 88 shares during the last quarter. Norden Group LLC increased its position in shares of Newmont by 0.7% in the fourth quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock worth $1,235,000 after purchasing an additional 90 shares during the last quarter. Brown Miller Wealth Management LLC increased its position in shares of Newmont by 2.7% in the fourth quarter. Brown Miller Wealth Management LLC now owns 4,268 shares of the basic materials company’s stock worth $426,000 after purchasing an additional 113 shares during the last quarter. Finally, Colonial Trust Advisors increased its position in shares of Newmont by 20.8% in the third quarter. Colonial Trust Advisors now owns 684 shares of the basic materials company’s stock worth $58,000 after purchasing an additional 118 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Newmont from $122.30 to $123.20 and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus upped their price objective on shares of Newmont from $120.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Raymond James Financial upped their price objective on shares of Newmont from $111.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, January 15th. Citigroup increased their price target on shares of Newmont from $118.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Finally, Canadian Imperial Bank of Commerce dropped their price objective on Newmont from $71.00 to $67.00 in a research note on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.91.

Newmont Price Performance

Shares of NYSE:NEM opened at $120.84 on Monday. Newmont Corporation has a 1-year low of $48.27 and a 1-year high of $134.88. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.02. The business has a fifty day moving average price of $115.34 and a 200-day moving average price of $102.89. The company has a market capitalization of $130.50 billion, a PE ratio of 18.91, a PEG ratio of 0.92 and a beta of 0.46.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 19th. The basic materials company reported $2.52 EPS for the quarter, topping the consensus estimate of $1.81 by $0.71. Newmont had a return on equity of 23.28% and a net margin of 31.25%.The company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.18 billion. During the same period last year, the company earned $1.40 EPS. Newmont’s revenue for the quarter was up 20.6% on a year-over-year basis. As a group, equities analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Tuesday, March 3rd were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, March 3rd. This is an increase from Newmont’s previous quarterly dividend of $0.25. Newmont’s payout ratio is presently 16.28%.

Insider Transactions at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $113.09, for a total value of $339,270.00. Following the transaction, the executive vice president owned 52,315 shares of the company’s stock, valued at $5,916,303.35. This represents a 5.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David James Fry sold 18,394 shares of the company’s stock in a transaction on Monday, March 16th. The shares were 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 in the company, valued at $1,911,033.15. This trade represents a 51.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 24,394 shares of company stock worth $2,713,281. Insiders own 0.06% of the company’s stock.

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.