Clough Capital Partners L P Sells 5,701 Shares of Newmont Corporation $NEM

Clough Capital Partners L P reduced its holdings in shares of Newmont Corporation (NYSE:NEM) by 21.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,532 shares of the basic materials company’s stock after selling 5,701 shares during the quarter. Clough Capital Partners L P’s holdings in Newmont were worth $2,050,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. GoalVest Advisory LLC bought a new position in shares of Newmont during the 4th quarter worth approximately $25,000. Swiss RE Ltd. bought a new position in shares of Newmont in the fourth quarter valued at $26,000. Cornerstone Planning Group LLC grew its stake in shares of 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 buying an additional 206 shares in the last quarter. JPL Wealth Management LLC bought a new position in shares of Newmont in the third quarter valued at $27,000. Finally, Lodestone Wealth Management LLC bought a new position in shares of Newmont in the fourth quarter valued at $28,000. 68.85% of the stock is owned by institutional investors.

Newmont Trading Down 2.7%

Shares of Newmont stock opened at $105.55 on Thursday. The firm has a 50-day moving average of $110.52 and a 200-day moving average of $110.51. The stock has a market cap of $112.68 billion, a PE ratio of 13.69, a PEG ratio of 1.80 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 company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.Newmont’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 earnings per share. As a group, sell-side analysts forecast that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Dividend Announcement

The business also recently declared 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 yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s payout ratio is 13.49%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on NEM shares. BNP Paribas Exane raised their target price on shares of Newmont from $123.00 to $128.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Weiss Ratings cut shares of Newmont from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 27th. The Goldman Sachs Group decreased their target price on shares of Newmont from $125.10 to $122.50 and set a “buy” rating for the company in a research note on Thursday, June 4th. Royal Bank Of Canada decreased their target price on shares of Newmont from $160.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, June 3rd. Finally, TD Securities reissued a “hold” rating and issued a $129.00 target price on shares of Newmont in a research note on Monday, April 27th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $141.79.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $315,960.00. Following the completion of the transaction, the executive vice president owned 46,315 shares of the company’s stock, valued at $4,877,895.80. The trade was a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $252,812.56. Following the transaction, the insider directly owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. The trade was a 9.02% decrease in their position. 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. Insiders sold 28,556 shares of company stock worth $3,120,276 in the last ninety days. 0.06% of the stock is owned by company insiders.

Key Stories Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Zacks upgraded Newmont from hold to strong-buy, reinforcing a more optimistic view on the stock’s near-term prospects.
• Positive Sentiment: Wall Street’s average price target implies about 30% upside, with analysts also pointing to rising earnings estimates as a supportive signal for the shares. Article: Does Newmont (NEM) Have the Potential to Rally 30.14% as Wall Street Analysts Expect?
• Positive Sentiment: Newmont announced a leadership reshuffle, naming new CFO, COO, and CTO appointments effective July 1, which investors may see as a move to sharpen execution under CEO Natascha Viljoen.
• Positive Sentiment: Several recent articles highlight Newmont as a value or buy idea and note that the company remains well positioned if gold prices rebound, which is supportive for a gold miner.
• Neutral Sentiment: Other coverage focused on comparison pieces and broad investor interest, but these are less likely to move the stock on their own.

Newmont Company 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.