Artemis Investment Management LLP Takes Position in Newmont Corporation $NEM

Key Points

• Artemis Investment Management LLP opened a new position in Newmont in Q4, buying 133,285 shares valued at about $13.31 million as institutional investors now own 68.85% of the company.
• Newmont beat quarterly estimates with EPS of $2.90 vs. $2.07 expected and revenue of $7.31B, and announced a quarterly dividend of $0.26 ($1.04 annual, ~1.0% yield).
• Insiders sold 24,394 shares (~$2.71M) over the past three months (insiders own 0.06%), while analysts remain largely positive with an average rating of "Moderate Buy" and an average target price of $142.51.

Artemis Investment Management LLP acquired a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 133,285 shares of the basic materials company's stock, valued at approximately $13,309,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock valued at $506,000 after purchasing an additional 1,847 shares during the last quarter. Woodline Partners LP boosted its stake in shares of Newmont by 40.7% during the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company's stock worth $4,644,000 after purchasing an additional 27,813 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Newmont during the 2nd quarter worth about $240,000. Cerity Partners LLC grew its holdings in shares of Newmont by 108.9% during the second quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company's stock worth $7,303,000 after buying an additional 65,342 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Newmont by 8.5% during the second quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company's stock worth $2,854,000 after buying an additional 3,856 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insiders Place Their Bets

In related news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $113.09, for a total transaction of $339,270.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David James Fry sold 18,394 shares of Newmont 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 directly owned 17,147 shares in the company, valued at $1,911,033.15. This trade represents a 51.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 24,394 shares of company stock worth $2,713,281. Corporate insiders own 0.06% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Wall Street Zen raised shares of Newmont from a "hold" rating to a "buy" rating in a research note on Saturday, April 25th. Raymond James Financial lifted their target price on shares of Newmont from $111.00 to $130.00 and gave the stock an "outperform" rating in a research note on Thursday, January 15th. BMO Capital Markets boosted their price target on Newmont from $140.00 to $145.00 and gave the company an "outperform" rating in a report on Friday, April 24th. Stifel Nicolaus raised their price objective on Newmont from $120.00 to $175.00 and gave the stock a "buy" rating in a report on Tuesday, February 10th. Finally, Canaccord Genuity Group lifted their price objective on Newmont from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $142.51.

Newmont Trading Down 2.3%

NYSE:NEM opened at $108.58 on Friday. The business's 50-day moving average is $113.57 and its two-hundred day moving average is $105.47. The firm has a market capitalization of $115.91 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 1.98 and a beta of 0.43. Newmont Corporation has a 12 month low of $48.27 and a 12 month high of $134.88. 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 for the quarter, topping the consensus estimate of $2.07 by $0.83. The company 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%.The company's revenue was up 45.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 earnings per share. Research analysts predict that Newmont Corporation will post 9.47 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company 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. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. Newmont's dividend payout ratio (DPR) is currently 13.49%.

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.

Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Corporation (NYSE:NEM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.