Capital Financial Group Inc. Co. ADV Takes Position in Newmont Corporation $NEM

Key Points

• Capital Financial Group disclosed a new fourth-quarter stake in Newmont, buying 24,967 shares valued at about $2.49 million. Newmont now accounts for roughly 1.4% of the firm’s holdings.
• Newmont reported strong quarterly results, with EPS of $2.90 versus expectations of $2.07 and revenue of $7.31 billion, up 45.8% year over year. Analysts now expect full-year EPS of 9.91.
• The company also announced a quarterly dividend of $0.26 per share, payable June 22, and the stock was trading up 5.5% at $105.77. Meanwhile, analysts remain generally bullish, with a consensus rating of Moderate Buy and a price target of $141.79.

Capital Financial Group Inc. Co. ADV bought a new stake in Newmont Corporation (NYSE:NEM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 24,967 shares of the basic materials company's stock, valued at approximately $2,493,000. Newmont makes up about 1.4% of Capital Financial Group Inc. Co. ADV's holdings, making the stock its 20th biggest holding.

A number of other large investors have also modified their holdings of NEM. Norges Bank acquired a new stake in Newmont during the 4th quarter valued at approximately $1,443,128,000. Van ECK Associates Corp grew its stake in Newmont by 23.4% during the 4th quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company's stock valued at $2,973,539,000 after purchasing an additional 5,643,496 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Newmont by 110.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,743,228 shares of the basic materials company's stock valued at $873,011,000 after purchasing an additional 4,588,018 shares in the last quarter. Assetmark Inc. grew its stake in Newmont by 398.3% during the 4th quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company's stock valued at $286,619,000 after purchasing an additional 2,294,396 shares in the last quarter. Finally, Boston Partners grew its stake in Newmont by 49.3% during the 3rd quarter. Boston Partners now owns 6,931,710 shares of the basic materials company's stock valued at $585,828,000 after purchasing an additional 2,288,653 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Insiders Place Their Bets

In other Newmont news, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $252,812.56. Following the sale, the insider owned 23,163 shares of the company's stock, valued at $2,550,477.93. The trade was a 9.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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. Also, EVP Peter Wexler sold 13,378 shares of Newmont stock in a transaction on 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 sale, the executive vice president directly owned 67,865 shares in the company, valued at $7,472,615.15. The trade was 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. Insiders sold 31,556 shares of company stock worth $3,444,276 over the last 90 days. Insiders own 0.06% of the company's stock.

Newmont Trading Up 5.5%

Shares of NYSE NEM opened at $105.77 on Tuesday. The company has a market cap of $112.91 billion, a price-to-earnings ratio of 13.72, a price-to-earnings-growth ratio of 1.66 and a beta of 0.42. Newmont Corporation has a 12-month low of $55.37 and a 12-month high of $134.88. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The stock's 50 day simple moving average is $110.78 and its 200 day simple moving average is $110.28.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly 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. The business had revenue of $7.31 billion for 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 business's revenue was up 45.8% on a year-over-year basis. During the same quarter last year, the business posted $1.25 EPS. Equities research analysts expect that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 1.0%. Newmont's payout ratio is presently 13.49%.

Wall Street Analyst Weigh In

NEM has been the subject of a number of recent analyst reports. Argus raised their price objective on Newmont from $94.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. BNP Paribas Exane raised their price objective on Newmont from $123.00 to $128.00 and gave the company a "neutral" rating in a research note on Monday, March 2nd. Barclays initiated coverage on Newmont in a research note on Thursday, May 21st. They set an "overweight" rating and a $133.00 price objective for the company. Royal Bank Of Canada lowered their price objective on Newmont from $160.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, June 3rd. Finally, Canadian Imperial Bank of Commerce set a $175.00 target price on Newmont and gave the stock an "outperform" rating in a research report on Monday, June 1st. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $141.79.

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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