Newmont Corporation $NEM Shares Bought by Global Retirement Partners LLC

Global Retirement Partners LLC grew its holdings in shares of Newmont Corporation (NYSE:NEM) by 34.8% during the 4th quarter, HoldingsChannel reports. The firm owned 25,371 shares of the basic materials company’s stock after buying an additional 6,545 shares during the period. Global Retirement Partners LLC’s holdings in Newmont were worth $2,533,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GoalVest Advisory LLC acquired a new stake in Newmont during the 4th quarter worth $25,000. Cornerstone Planning Group LLC boosted its stake in Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 206 shares during the last quarter. Lodestone Wealth Management LLC acquired a new stake in Newmont during the 4th quarter worth $28,000. Laurel Wealth Advisors LLC acquired a new stake in Newmont during the 4th quarter worth $30,000. Finally, Rosenberg Matthew Hamilton boosted its stake in Newmont by 308.0% during the 4th quarter. Rosenberg Matthew Hamilton now owns 306 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 231 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Down 0.5%

Shares of NEM opened at $107.74 on Friday. The firm has a market cap of $115.02 billion, a P/E ratio of 13.97, a price-to-earnings-growth ratio of 1.55 and a beta of 0.43. Newmont Corporation has a 12-month low of $51.80 and a 12-month high of $134.88. The company’s 50-day moving average price is $111.03 and its 200 day moving average price is $108.00. 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 released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same period in the previous year, the company posted $1.25 EPS. Newmont’s revenue was up 45.8% compared to the same quarter last year. On average, sell-side analysts forecast that Newmont Corporation will post 9.47 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be issued 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 dividend payout ratio is 13.49%.

Insiders Place Their Bets

In other Newmont news, EVP Peter Wexler sold 13,378 shares of the business’s 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 sale, the executive vice president owned 67,865 shares in the company, valued at approximately $7,472,615.15. The trade was a 16.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 Toth sold 3,000 shares of the business’s 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 $330,330.00. Following the completion of the sale, the executive vice president owned 49,315 shares of the company’s stock, valued at approximately $5,430,074.65. This represents a 5.73% 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. Over the last ninety days, insiders sold 43,068 shares of company stock valued at $4,769,475. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NEM. Scotiabank lowered their target price on shares of Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a research note on Friday, March 20th. TD Securities reaffirmed a “hold” rating and set a $129.00 target price on shares of Newmont in a research note on Monday, April 27th. Canaccord Genuity Group lifted their target price on shares of Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Barclays initiated coverage on Newmont in a report on Thursday. They set an “overweight” rating and a $133.00 price target on the stock. Finally, Canadian Imperial Bank of Commerce reduced their price target on Newmont from $177.00 to $176.00 and set an “outperform” rating on the stock in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.05.

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.