Rathbones Group PLC Buys 24,722 Shares of Newmont Corporation $NEM

Rathbones Group PLC increased its stake in Newmont Corporation (NYSE:NEM) by 27.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 113,801 shares of the basic materials company’s stock after purchasing an additional 24,722 shares during the period. Rathbones Group PLC’s holdings in Newmont were worth $11,363,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. CWM LLC increased its position in shares of Newmont by 64.6% in the fourth quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock worth $20,259,000 after purchasing an additional 79,617 shares during the period. Estate Counselors LLC bought a new position in Newmont in the third quarter valued at about $4,182,000. AustralianSuper Pty Ltd raised its stake in Newmont by 124.8% during the third quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock worth $27,843,000 after acquiring an additional 183,360 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Newmont by 24.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock worth $30,775,000 after acquiring an additional 54,530 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC lifted its holdings in shares of Newmont by 286.5% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company’s stock worth $5,101,000 after acquiring an additional 44,846 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In related 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 value of $330,330.00. Following the transaction, the executive vice president directly owned 49,315 shares of the company’s stock, valued at $5,430,074.65. The trade was a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 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 value of $1,473,051.58. Following the completion of the transaction, the executive vice president directly owned 67,865 shares in the company, valued at approximately $7,472,615.15. This represents a 16.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold 43,068 shares of company stock valued at $4,769,475 in the last ninety days. Insiders own 0.06% of the company’s stock.

Newmont Price Performance

Newmont stock opened at $108.43 on Friday. The stock’s 50 day moving average is $111.20 and its 200 day moving average is $108.01. 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 firm has a market cap of $115.75 billion, a P/E ratio of 14.06, a P/E/G ratio of 1.53 and a beta of 0.43. Newmont Corporation has a one year low of $51.80 and a one year high of $134.88.

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

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s payout ratio is currently 13.49%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NEM shares. Sanford C. Bernstein raised shares of Newmont from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $121.00 to $157.00 in a report on Friday, February 27th. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Friday, April 3rd. TD Securities reissued a “hold” rating and issued a $129.00 target price on shares of Newmont in a report on Monday, April 27th. Barclays started coverage on shares of Newmont in a report on Thursday. They issued an “overweight” rating and a $133.00 target price for the company. Finally, Wall Street Zen raised shares of Newmont from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $142.05.

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.