Assetmark Inc. Has $286.62 Million Stock Holdings in Newmont Corporation $NEM

Key Points

• Assetmark Inc. boosted its Newmont stake by 398.3% in Q4, acquiring an additional 2,294,396 shares to hold 2,870,495 shares worth about $286.62 million (roughly 0.26% of the company).
• Newmont posted a strong quarter—$2.52 EPS vs $1.81 expected and $6.82B revenue (up 20.6% YoY)—while several analysts raised price targets, leaving a MarketBeat consensus of "Moderate Buy" with an average target of $133.91; the company also increased its quarterly dividend to $0.26 (annualized $1.04, ~0.9% yield).

Assetmark Inc. lifted its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 398.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,870,495 shares of the basic materials company's stock after purchasing an additional 2,294,396 shares during the period. Assetmark Inc. owned approximately 0.26% of Newmont worth $286,619,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NEM. Robeco Institutional Asset Management B.V. raised its position in shares of Newmont by 172.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company's stock worth $362,888,000 after purchasing an additional 2,723,044 shares during the period. Boston Partners raised its position in Newmont by 49.3% during the third quarter. Boston Partners now owns 6,931,710 shares of the basic materials company's stock valued at $585,828,000 after buying an additional 2,288,653 shares during the period. Arrowstreet Capital Limited Partnership raised its position in 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. raised its position in 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 period. Finally, Los Angeles Capital Management LLC raised its position in Newmont by 120.1% during the third quarter. Los Angeles Capital Management LLC now owns 3,387,467 shares of the basic materials company's stock valued at $285,597,000 after buying an additional 1,848,659 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NEM. Bank of America upped their price target on Newmont from $134.00 to $151.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. Raymond James Financial upped their price target on Newmont from $111.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday, January 15th. The Goldman Sachs Group upped their price target on Newmont from $122.30 to $123.20 and gave the company a "buy" rating in a research report on Thursday, April 9th. BNP Paribas Exane upped their price target on Newmont from $123.00 to $128.00 and gave the company a "neutral" rating in a research report on Monday, March 2nd. Finally, TD Cowen upped their price target on Newmont from $89.00 to $120.00 and gave the company a "hold" rating in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $133.91.

Insider Transactions at Newmont

In other Newmont news, insider David James Fry sold 18,394 shares of the business's stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $111.45, for a total value of $2,050,011.30. Following the transaction, the insider owned 17,147 shares in the company, valued at $1,911,033.15. The trade was a 51.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $113.09, for a total value of $339,270.00. Following the completion of the transaction, the executive vice president owned 52,315 shares in the company, valued at $5,916,303.35. This trade represents a 5.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 24,394 shares of company stock worth $2,713,281 in the last 90 days. Corporate insiders own 0.06% of the company's stock.

Newmont Stock Performance

Shares of NYSE NEM opened at $116.58 on Tuesday. The business's 50-day moving average price is $115.42 and its two-hundred day moving average price is $103.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.02. Newmont Corporation has a one year low of $48.27 and a one year high of $134.88. The company has a market capitalization of $125.90 billion, a P/E ratio of 18.24, a price-to-earnings-growth ratio of 0.92 and a beta of 0.46.

Newmont (NYSE:NEM - Get Free Report) last issued its earnings results on Thursday, February 19th. The basic materials company reported $2.52 EPS for the quarter, beating analysts' consensus estimates of $1.81 by $0.71. Newmont had a return on equity of 23.28% and a net margin of 31.25%.The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.18 billion. During the same quarter in the previous year, the company posted $1.40 earnings per share. The business's quarterly revenue was up 20.6% compared to the same quarter last year. Analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Tuesday, March 3rd were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. This is an increase from Newmont's previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, March 3rd. Newmont's dividend 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.

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