BCS Private Wealth Management Inc. Has $4.87 Million Position in Newmont Corporation $NEM

Key Points

• BCS Private Wealth Management cut its Newmont position by 26% in Q4, selling 17,160 shares and ending with 48,748 shares worth $4.87 million, about 1.7% of its portfolio (its 14th largest holding).
• Strong quarterly results: Newmont reported Q4 EPS of $2.52 (beat by $0.71) and revenue up 20.6% to $6.82 billion, and analysts maintain a "Moderate Buy" consensus with an average target of $133.91.
• Dividend hike and insider sales: the company raised its quarterly dividend to $0.26 (annualized $1.04, ~0.9% yield), while insiders sold 24,394 shares (~$2.71 million) over the past three months and institutions own about 68.9% of the stock.

BCS Private Wealth Management Inc. cut its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 26.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,748 shares of the basic materials company's stock after selling 17,160 shares during the quarter. Newmont comprises 1.7% of BCS Private Wealth Management Inc.'s portfolio, making the stock its 14th biggest holding. BCS Private Wealth Management Inc.'s holdings in Newmont were worth $4,867,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Apella Capital LLC increased its holdings in shares of Newmont by 4.1% during the 4th quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company's stock worth $219,000 after acquiring an additional 86 shares during the last quarter. New Wave Wealth Advisors LLC boosted its stake in Newmont by 1.3% in the 4th quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company's stock valued at $684,000 after purchasing an additional 88 shares during the period. Norden Group LLC boosted its stake in Newmont by 0.7% in the 4th quarter. Norden Group LLC now owns 12,367 shares of the basic materials company's stock valued at $1,235,000 after purchasing an additional 90 shares during the period. Brown Miller Wealth Management LLC boosted its stake in Newmont by 2.7% in the 4th quarter. Brown Miller Wealth Management LLC now owns 4,268 shares of the basic materials company's stock valued at $426,000 after purchasing an additional 113 shares during the period. Finally, Colonial Trust Advisors boosted its stake in Newmont by 20.8% in the 3rd quarter. Colonial Trust Advisors now owns 684 shares of the basic materials company's stock valued at $58,000 after purchasing an additional 118 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Price Performance

Shares of NYSE NEM opened at $119.29 on Wednesday. The stock has a market capitalization of $128.82 billion, a PE ratio of 18.67, a P/E/G ratio of 0.88 and a beta of 0.46. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.02. The business has a fifty day moving average price of $115.46 and a two-hundred day moving average price of $103.37. Newmont Corporation has a fifty-two week low of $48.27 and a fifty-two week high of $134.88.

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

Newmont Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Tuesday, March 3rd were issued a dividend of $0.26 per share. This is an increase from Newmont's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. Newmont's payout ratio is presently 16.28%.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $113.09, for a total transaction of $339,270.00. Following the completion of the transaction, the executive vice president owned 52,315 shares of the company's stock, valued at approximately $5,916,303.35. The trade was a 5.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David James Fry sold 18,394 shares of the business's stock in a transaction on 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 directly owned 17,147 shares of the company's stock, valued at $1,911,033.15. This trade represents a 51.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,394 shares of company stock valued at $2,713,281 in the last three months. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

NEM has been the subject of several recent research reports. BMO Capital Markets reduced their price target on Newmont from $145.00 to $140.00 and set an "outperform" rating for the company in a research note on Friday, February 20th. DZ Bank upgraded Newmont to a "strong-buy" rating in a research note on Monday, January 19th. Citigroup boosted their price target on Newmont from $118.00 to $150.00 and gave the company a "buy" rating in a research note on Tuesday, March 3rd. Stifel Nicolaus boosted their price target on Newmont from $120.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, February 10th. Finally, Macquarie Infrastructure boosted their price target on Newmont from $126.00 to $130.00 and gave the company an "outperform" rating in a research note on Friday, March 27th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Newmont has a consensus rating of "Moderate Buy" and an average target price of $133.91.

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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