NewEdge Wealth LLC Has $1.75 Million Position in Newmont Corporation $NEM

NewEdge Wealth LLC lifted its holdings in Newmont Corporation (NYSE:NEM) by 404.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,549 shares of the basic materials company’s stock after purchasing an additional 14,067 shares during the period. NewEdge Wealth LLC’s holdings in Newmont were worth $1,752,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in NEM. GoalVest Advisory LLC acquired a new stake in Newmont in the 4th quarter valued at approximately $25,000. Physician Wealth Advisors Inc. lifted its holdings in shares of Newmont by 327.8% during the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after buying an additional 236 shares during the last quarter. Cornerstone Planning Group LLC lifted its holdings in shares of Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after buying an additional 206 shares during the last quarter. JPL Wealth Management LLC bought a new stake in shares of Newmont in the third quarter valued at approximately $27,000. Finally, Lodestone Wealth Management LLC bought a new stake in shares of Newmont in the fourth quarter valued at approximately $28,000. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont 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 $330,330.00. Following the sale, the executive vice president directly owned 49,315 shares of the company’s stock, valued at approximately $5,430,074.65. The trade was a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David James Fry sold 18,394 shares of the company’s stock in a transaction that occurred 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 sale, the insider owned 17,147 shares in the company, valued at approximately $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 43,068 shares of company stock worth $4,769,475. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NEM. TD Securities reaffirmed a “hold” rating and set a $129.00 target price on shares of Newmont in a research report on Monday, April 27th. Macquarie Infrastructure increased their price target on shares of Newmont from $130.00 to $133.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Sanford C. Bernstein upgraded shares of Newmont from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $121.00 to $157.00 in a research report on Friday, February 27th. Royal Bank Of Canada boosted their price objective on shares of Newmont from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. Finally, Argus upped their price objective on shares of Newmont from $94.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average price target of $142.51.

Newmont Stock Performance

Shares of NYSE NEM opened at $118.99 on Thursday. The firm has a market capitalization of $127.02 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.66 and a beta of 0.43. Newmont Corporation has a one year low of $48.27 and a one year high of $134.88. The business has a fifty day simple moving average of $112.20 and a 200 day simple moving average of $106.79. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. The firm 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 business’s revenue was up 45.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.25 earnings per share. Sell-side analysts expect that Newmont Corporation will post 9.72 EPS for the current year.

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 given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Wednesday, May 27th. Newmont’s payout ratio is 13.49%.

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.