Advisors Preferred LLC Sells 19,853 Shares of Newmont Corporation $NEM

Key Points

• Advisors Preferred LLC cut its Newmont (NEM) stake by 39.0%, selling 19,853 shares and leaving 31,063 shares valued at about $3.14 million, per its latest 13F filing.
• Newmont posted a strong quarter with EPS of $2.90 versus a $2.07 consensus and revenue of $7.31 billion (beating $6.83B), a 45.8% year-over-year revenue increase; the company trades at a P/E of ~14.1 with a market cap near $116 billion.
• Newmont declared a quarterly dividend of $0.26 ($1.04 annualized, ~1.0% yield; ex-dividend May 27, payable June 22) while analysts hold a "Moderate Buy" consensus with a $142.51 average price target and several recent upgrades.

Advisors Preferred LLC trimmed its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 39.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,063 shares of the basic materials company's stock after selling 19,853 shares during the period. Advisors Preferred LLC's holdings in Newmont were worth $3,144,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. GoalVest Advisory LLC bought a new position in Newmont during the fourth quarter valued at $25,000. Cornerstone Planning Group LLC lifted its position in shares of Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock worth $27,000 after acquiring an additional 206 shares in the last quarter. Lodestone Wealth Management LLC purchased a new stake in shares of Newmont during the fourth quarter worth $28,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Newmont during the fourth quarter worth $30,000. Finally, Rosenberg Matthew Hamilton lifted its position in shares of Newmont by 308.0% during the fourth quarter. Rosenberg Matthew Hamilton now owns 306 shares of the basic materials company's stock worth $31,000 after acquiring an additional 231 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Trading Down 0.0%

NYSE NEM opened at $108.58 on Monday. The stock's 50-day simple moving average is $113.57 and its two-hundred day simple moving average is $105.57. Newmont Corporation has a twelve month low of $48.27 and a twelve month high of $134.88. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $115.91 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 1.55 and a beta of 0.43.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating analysts' consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter last year, the business posted $1.25 earnings per share. The company's revenue for the quarter was up 45.8% on a year-over-year basis. Research analysts forecast that Newmont Corporation will post 9.47 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed 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 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 dividend payout ratio (DPR) is 13.49%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NEM shares. TD Securities restated a "hold" rating and set a $129.00 target price on shares of Newmont in a research report on Monday, April 27th. National Bank Financial increased their target price on Newmont from $130.00 to $140.00 and gave the stock a "sector perform" rating in a research report on Friday, April 24th. The Goldman Sachs Group increased their target price on Newmont from $123.20 to $125.10 and gave the stock a "buy" rating in a research report on Tuesday, April 28th. Scotiabank dropped their target price on Newmont from $152.00 to $151.00 and set a "sector outperform" rating on the stock in a research report on Friday, March 20th. Finally, Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a research report on Saturday, April 25th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $142.51.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $113.09, for a total transaction of $339,270.00. Following the transaction, the executive vice president directly owned 52,315 shares of the company's stock, valued at approximately $5,916,303.35. This trade represents a 5.42% 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. Also, insider David James Fry sold 18,394 shares of the firm's stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the transaction, the insider directly owned 17,147 shares in the company, valued at $1,911,033.15. This trade represents a 51.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 24,394 shares of company stock worth $2,713,281 over the last ninety days. Insiders own 0.06% of the company's stock.

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.

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