Clear Street Group Inc. Invests $1.63 Million in Newmont Corporation $NEM

Clear Street Group Inc. purchased a new position in shares of Newmont Corporation (NYSE:NEM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 16,367 shares of the basic materials company's stock, valued at approximately $1,634,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC raised its stake in Newmont by 64.6% in the 4th quarter. CWM LLC now owns 202,892 shares of the basic materials company's stock valued at $20,259,000 after purchasing an additional 79,617 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Newmont by 24.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company's stock valued at $30,775,000 after purchasing an additional 54,530 shares during the last quarter. AustralianSuper Pty Ltd raised its stake in Newmont by 124.8% in the 3rd quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company's stock valued at $27,843,000 after purchasing an additional 183,360 shares during the last quarter. Leonteq Securities AG acquired a new position in Newmont in the 4th quarter valued at about $9,018,000. Finally, Waverton Investment Management Ltd raised its stake in Newmont by 3.4% in the 3rd quarter. Waverton Investment Management Ltd now owns 704,331 shares of the basic materials company's stock valued at $59,365,000 after purchasing an additional 23,139 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Trading Down 0.1%

NYSE NEM opened at $100.10 on Monday. Newmont Corporation has a 12 month low of $55.37 and a 12 month high of $134.88. The company has a 50-day moving average of $110.94 and a 200-day moving average of $110.14. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The company has a market cap of $106.86 billion, a P/E ratio of 12.98, a P/E/G ratio of 1.66 and a beta of 0.42.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter in the prior year, the company posted $1.25 EPS. The company's quarterly revenue was up 45.8% compared to the same quarter last year. As a group, equities analysts predict that Newmont Corporation will post 9.91 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be issued 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 payout ratio is presently 13.49%.

Insider Transactions at Newmont

In other news, CEO Natascha Viljoen sold 3,882 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the completion of the sale, the chief executive officer owned 142,999 shares in the company, valued at approximately $15,060,654.68. The trade was a 2.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $315,960.00. Following the sale, the executive vice president owned 46,315 shares of the company's stock, valued at $4,877,895.80. The trade was a 6.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 31,556 shares of company stock worth $3,444,276 over the last 90 days. Company insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

NEM has been the subject of several analyst reports. Zacks Research downgraded shares of Newmont from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 3rd. TD Cowen reissued a "buy" rating on shares of Newmont in a research note on Monday, April 27th. Weiss Ratings downgraded shares of Newmont from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, May 27th. TD Securities reissued a "hold" rating and issued a $129.00 target price on shares of Newmont in a research note on Monday, April 27th. Finally, Wall Street Zen downgraded shares of Newmont from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 30th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Newmont presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.26.

Newmont 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.

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