Wilkins Investment Counsel Inc. Sells 88,685 Shares of Newmont Corporation $NEM

Wilkins Investment Counsel Inc. lowered its position in shares of Newmont Corporation (NYSE:NEM) by 16.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 456,955 shares of the basic materials company’s stock after selling 88,685 shares during the quarter. Newmont accounts for about 6.7% of Wilkins Investment Counsel Inc.’s holdings, making the stock its largest position. Wilkins Investment Counsel Inc.’s holdings in Newmont were worth $45,627,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Apella Capital LLC increased its stake in 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 buying an additional 86 shares during the period. New Wave Wealth Advisors LLC increased its stake in 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 buying an additional 88 shares during the period. Novem Group increased its stake in 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 buying an additional 88 shares during the period. Norden Group LLC increased its stake in 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 buying an additional 90 shares during the period. Finally, Brown Miller Wealth Management LLC increased its stake in Newmont by 2.7% in the 4th quarter. Brown Miller Wealth Management LLC now owns 4,268 shares of the basic materials company’s stock valued at $426,000 after buying an additional 113 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $113.09, for a total transaction of $339,270.00. Following the transaction, the executive vice president owned 52,315 shares in the company, valued at $5,916,303.35. This represents a 5.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David James Fry sold 18,394 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the transaction, the insider owned 17,147 shares in the company, valued at approximately $1,911,033.15. This trade represents a 51.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 24,394 shares of company stock worth $2,713,281. 0.06% of the stock is currently owned by company insiders.

Newmont Stock Performance

Shares of NEM opened at $108.58 on Friday. The company’s fifty day moving average is $113.57 and its 200-day moving average is $105.47. Newmont Corporation has a 12 month low of $48.27 and a 12 month high of $134.88. The firm has a market cap of $115.91 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 1.98 and a beta of 0.43. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same quarter in the prior year, the business posted $1.25 EPS. Newmont’s quarterly revenue was up 45.8% on a year-over-year basis. Equities analysts expect that Newmont Corporation will post 9.47 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared 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 is Wednesday, May 27th. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. Newmont’s dividend payout ratio is 13.49%.

Wall Street Analyst Weigh In

Several research firms have weighed in on NEM. 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 research note on Friday, April 24th. TD Securities reiterated a “hold” rating and issued a $129.00 price objective on shares of Newmont in a research note on Monday, April 27th. Royal Bank Of Canada upped their price objective on shares of Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Stifel Nicolaus upped their price objective on shares of Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Finally, 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 research note on Monday, April 27th. One research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $142.51.

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.