Ameritas Advisory Services LLC Buys 18,696 Shares of Newmont Corporation $NEM

Key Points

• Ameritas Advisory Services LLC increased its Newmont stake by 150.3% in the fourth quarter, buying 18,696 additional shares and bringing its total holdings to 31,139 shares worth about $3.11 million.
• Newmont reported strong quarterly results, with EPS of $2.90 beating estimates and revenue of $7.31 billion topping expectations; revenue jumped 45.8% year over year.
• The company also announced a quarterly dividend of $0.26 per share, while analysts currently rate the stock a consensus “Moderate Buy” with a target price of $142.51.

Ameritas Advisory Services LLC lifted its stake in Newmont Corporation (NYSE:NEM - Free Report) by 150.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,139 shares of the basic materials company's stock after purchasing an additional 18,696 shares during the quarter. Ameritas Advisory Services LLC's holdings in Newmont were worth $3,109,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Assetmark Inc. boosted its stake in shares of Newmont by 398.3% during the 4th quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company's stock worth $286,619,000 after purchasing an additional 2,294,396 shares during the period. Boston Partners lifted its stake in Newmont by 49.3% in the third quarter. Boston Partners now owns 6,931,710 shares of the basic materials company's stock worth $585,828,000 after purchasing an additional 2,288,653 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Newmont by 106.9% during the third quarter. Arrowstreet Capital Limited Partnership now owns 4,155,210 shares of the basic materials company's stock valued at $349,288,000 after buying an additional 2,146,905 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Newmont by 142.0% during the second quarter. Ameriprise Financial Inc. now owns 3,262,258 shares of the basic materials company's stock valued at $189,963,000 after buying an additional 1,914,286 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Newmont by 171.6% during the second quarter. AQR Capital Management LLC now owns 2,504,253 shares of the basic materials company's stock valued at $143,068,000 after buying an additional 1,582,324 shares during the last quarter. Institutional investors own 68.85% of the company's stock.

Newmont Stock Performance

NEM stock opened at $118.99 on Thursday. Newmont Corporation has a 1-year low of $48.27 and a 1-year high of $134.88. The business has a 50-day moving average price of $112.20 and a 200 day moving average price of $106.79. The company has a market capitalization of $127.02 billion, a P/E ratio of 15.43, a PEG ratio of 1.66 and a beta of 0.43. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company had revenue of $7.31 billion for the quarter, compared to analysts' expectations of $6.83 billion. During the same period in the prior year, the business earned $1.25 EPS. The firm's quarterly revenue was up 45.8% on a year-over-year basis. As a group, equities research analysts forecast that Newmont Corporation will post 9.72 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. Newmont's payout ratio is 13.49%.

Insider Buying and Selling at Newmont

In other Newmont news, insider David James Fry sold 18,394 shares of the stock in a transaction 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 sale, the insider owned 17,147 shares of the company's stock, valued at approximately $1,911,033.15. This trade represents a 51.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter Wexler sold 13,378 shares of Newmont stock in a transaction dated 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 completion of the transaction, the executive vice president owned 67,865 shares in the company, valued at $7,472,615.15. This trade represents a 16.47% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Over the last ninety days, insiders sold 43,068 shares of company stock worth $4,769,475. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NEM shares. DZ Bank raised Newmont to a "strong-buy" rating in a research note on Monday, January 19th. Jefferies Financial Group upped their price objective on Newmont from $162.00 to $165.00 and gave the company a "buy" rating in a research report on Friday, April 10th. TD Securities reiterated a "hold" rating and issued a $129.00 target price on shares of Newmont in a research note on Monday, April 27th. Wall Street Zen upgraded Newmont from a "hold" rating to a "buy" rating in a research report on Saturday, April 25th. Finally, Raymond James Financial upped their price target on shares of Newmont from $111.00 to $130.00 and gave the stock an "outperform" rating in a report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $142.51.

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.

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