NorthCrest Asset Manangement LLC Has $1.80 Million Stock Position in Newmont Corporation $NEM

NorthCrest Asset Manangement LLC grew its position in Newmont Corporation (NYSE:NEM) by 147.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,347 shares of the basic materials company’s stock after acquiring an additional 10,341 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Newmont were worth $1,796,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NEM. GoalVest Advisory LLC acquired a new position in shares of Newmont in the fourth quarter valued at $25,000. Rosenberg Matthew Hamilton increased its holdings in Newmont by 308.0% in the 4th quarter. Rosenberg Matthew Hamilton now owns 306 shares of the basic materials company’s stock valued at $31,000 after buying an additional 231 shares during the period. Physician Wealth Advisors Inc. increased its holdings in Newmont by 327.8% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after buying an additional 236 shares during the period. JPL Wealth Management LLC acquired a new position in shares of Newmont in the 3rd quarter valued at $27,000. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Newmont by 53.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock valued at $34,000 after buying an additional 139 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Trending Headlines about Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Zacks highlights Newmont as one of two basic-materials names showing positive earnings momentum (Earnings ESP), reinforcing expectations for continuing earnings surprises after Newmont’s recent quarter beat. Read More.
• Positive Sentiment: Heightened investor attention: Zacks reports Newmont is one of the most-searched names recently, which can drive intraday interest and trading flows. Read More.
• Neutral Sentiment: Dividend mechanics update for Australian CHESS/CDI holders: Newmont posted currency-exchange details for its ASX/CHESS dividend notification — administrative but clarifies cash flows for Australian investors. Read More.
• Neutral Sentiment: Executive share sales disclosed as pre-planned trades: Newmont announced a planned trading sale by EVP Peter Toth, which the company frames as routine and pre-arranged. Such plan-based sales are less likely to signal negative private information. Read More.
• Negative Sentiment: Falling gold prices are pressuring miners broadly — Barron’s notes gold has erased YTD gains and is dragging mining stocks lower, a primary headwind for Newmont’s revenue outlook and sentiment. Read More.
• Negative Sentiment: Analyst pressure: Scotiabank cut its Newmont price target to $151 and other outlets reported an analyst downgrade that previously knocked shares lower — analyst revisions can cap upside until commodity trends stabilize. Read More. Read More.
• Negative Sentiment: Insider selling reported: separate filings show an EVP sold roughly $324k of stock; while not uncommon, active insider sales can weigh on near-term sentiment. Read More.

Analyst Ratings Changes

Several analysts have recently weighed in on NEM shares. Jefferies Financial Group lifted their target price on shares of Newmont from $158.00 to $162.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Sanford C. Bernstein raised shares of Newmont from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $121.00 to $157.00 in a research report on Friday, February 27th. Scotiabank decreased their price objective on Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a report on Friday. BNP Paribas Exane increased their target price on Newmont from $123.00 to $128.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. Finally, TD Cowen raised their target price on Newmont from $89.00 to $120.00 and gave the stock a “hold” rating in a research report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $134.10.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $108.00, for a total value of $324,000.00. Following the completion of the sale, the executive vice president owned 55,315 shares of the company’s stock, valued at $5,974,020. This trade represents a 5.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David James Fry sold 18,394 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 17,147 shares of the company’s stock, valued at $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. 0.05% of the stock is currently owned by corporate insiders.

Newmont Price Performance

Shares of NEM stock opened at $97.94 on Tuesday. Newmont Corporation has a 52 week low of $42.93 and a 52 week high of $134.88. The stock has a market capitalization of $106.55 billion, a PE ratio of 15.33, a PEG ratio of 0.74 and a beta of 0.39. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.02 and a current ratio of 2.29. The stock’s fifty day moving average is $118.14 and its 200-day moving average is $99.90.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.71. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.18 billion. During the same quarter in the prior year, the company earned $1.40 EPS. The firm’s quarterly revenue was up 20.6% on a year-over-year basis. Equities research analysts expect that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 3rd will be paid a $0.26 dividend. This is a boost from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, March 3rd. Newmont’s payout ratio is presently 16.28%.

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.