Newmont Corporation $NEM Shares Purchased by Florida Financial Advisors LLC

Florida Financial Advisors LLC increased its holdings in shares of Newmont Corporation (NYSE:NEM) by 30.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,506 shares of the basic materials company’s stock after purchasing an additional 5,038 shares during the quarter. Florida Financial Advisors LLC’s holdings in Newmont were worth $2,146,000 as of its most recent filing with the SEC.

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

Insiders Place Their Bets

In other news, insider David John Thornton sold 2,296 shares of the 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 $252,812.56. Following the completion of the transaction, the insider directly owned 23,163 shares in the company, valued at approximately $2,550,477.93. This represents a 9.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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. Also, EVP Peter Wexler sold 13,378 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $1,473,051.58. Following the transaction, the executive vice president owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. This trade represents 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 90 days, insiders have sold 43,068 shares of company stock valued at $4,769,475. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on NEM shares. Sanford C. Bernstein raised shares of Newmont from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $121.00 to $157.00 in a research report on Friday, February 27th. TD Securities reaffirmed a “hold” rating and issued a $129.00 price objective on shares of Newmont in a research report on Monday, April 27th. UBS Group lowered their price objective on shares of Newmont from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, March 27th. The Goldman Sachs Group increased their price objective on shares of Newmont from $123.20 to $125.10 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Zacks Research downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Newmont has an average rating of “Moderate Buy” and a consensus price target of $141.53.

Newmont Stock Performance

Newmont stock opened at $109.60 on Monday. The stock has a market cap of $117.01 billion, a P/E ratio of 14.22 and a beta of 0.42. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average of $110.89 and a 200-day moving average of $109.10. Newmont Corporation has a 52 week low of $51.80 and a 52 week high of $134.88.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.07 by $0.83. The company had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business’s revenue was up 45.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 EPS. On average, analysts expect that Newmont Corporation will post 9.72 EPS for the current fiscal year.

Newmont Dividend Announcement

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 paid 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 dividend payout ratio is 13.49%.

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.