KCM Investment Advisors LLC raised its stake in shares of Newmont Corporation (NYSE:NEM – Free Report) by 37.0% during the fourth quarter, HoldingsChannel reports. The firm owned 20,813 shares of the basic materials company’s stock after purchasing an additional 5,623 shares during the quarter. KCM Investment Advisors LLC’s holdings in Newmont were worth $2,078,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Apella Capital LLC boosted its holdings in shares of Newmont by 4.1% in the 4th quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock valued at $219,000 after acquiring an additional 86 shares during the last quarter. New Wave Wealth Advisors LLC boosted its holdings in shares of Newmont by 1.3% in the 4th quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock valued at $684,000 after acquiring an additional 88 shares during the last quarter. Novem Group boosted its holdings in shares of Newmont by 3.7% in the 4th quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock valued at $248,000 after acquiring an additional 88 shares during the last quarter. Norden Group LLC boosted its holdings in shares of Newmont by 0.7% in the 4th quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock valued at $1,235,000 after acquiring an additional 90 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of Newmont by 1.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock valued at $714,000 after acquiring an additional 96 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on NEM. The Goldman Sachs Group dropped their price objective on shares of Newmont from $125.10 to $122.50 and set a “buy” rating on the stock in a report on Thursday, June 4th. Barclays began coverage on shares of Newmont in a report on Thursday, May 21st. They issued an “overweight” rating and a $133.00 price objective on the stock. BMO Capital Markets upped their price objective on shares of Newmont from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Macquarie Infrastructure upped their price objective on shares of Newmont from $130.00 to $133.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Finally, Citigroup upped their price objective on shares of Newmont from $118.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. 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 stock. According to data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and an average price target of $142.26.
Newmont Stock Performance
NEM opened at $100.10 on Monday. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The company has a market cap of $106.86 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 1.66 and a beta of 0.42. Newmont Corporation has a 52-week low of $55.37 and a 52-week high of $134.88. The firm’s fifty day simple moving average is $110.94 and its two-hundred day simple moving average is $110.14.
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 (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.83. The business had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company’s revenue was up 45.8% compared to the same quarter last year. During the same period last year, the firm posted $1.25 earnings per share. Equities analysts anticipate that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.
Newmont Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be issued a dividend of $0.26 per share. 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 presently 13.49%.
Insider Activity at Newmont
In other Newmont news, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $408,852.24. Following the transaction, the chief executive officer directly owned 142,999 shares of the company’s stock, valued at $15,060,654.68. This trade represents a 2.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 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 transaction of $1,473,051.58. Following the transaction, the executive vice president directly owned 67,865 shares in the company, valued at approximately $7,472,615.15. The trade was a 16.47% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 31,556 shares of company stock valued at $3,444,276. 0.06% of the stock is currently owned by company insiders.
Newmont 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.
Featured Stories
- Five stocks we like better than Newmont
- 3 ETFs Giving Ready-Made Access to the Discounted International Small-Cap Space
- What to Expect From Q2 Earnings as Tech Strength Broadens
- Viasat’s Orbiting Profits: Space Force Jackpot?
- Robinhood Wants a Bigger Role in IPOs—Here’s Why It Matters
Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Corporation (NYSE:NEM – Free Report).
Receive News & Ratings for Newmont Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newmont and related companies with MarketBeat.com's FREE daily email newsletter.
