Coldstream Capital Management Inc. Buys 12,205 Shares of Newmont Corporation $NEM

Key Points

• Coldstream Capital Management boosted its Newmont stake by 58.2% in the fourth quarter, buying 12,205 more shares and bringing its total holding to 33,191 shares valued at about $3.31 million.
• Analysts remain broadly positive on Newmont, with a consensus rating of “Moderate Buy” and an average price target of $142.05. Recent upgrades and higher targets from firms like Barclays, Bank of America, and Sanford C. Bernstein helped support that view.
• Newmont posted strong quarterly results, reporting EPS of $2.90 versus expectations of $2.07 and revenue of $7.31 billion versus estimates of $6.83 billion. The company also announced a quarterly dividend of $0.26 per share, payable June 22.

Coldstream Capital Management Inc. increased its stake in Newmont Corporation (NYSE:NEM - Free Report) by 58.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,191 shares of the basic materials company's stock after purchasing an additional 12,205 shares during the period. Coldstream Capital Management Inc.'s holdings in Newmont were worth $3,314,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. GoalVest Advisory LLC bought a new position in shares of Newmont in the fourth quarter worth $25,000. Physician Wealth Advisors Inc. boosted its stake in Newmont by 327.8% in the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company's stock valued at $26,000 after buying an additional 236 shares in the last quarter. Cornerstone Planning Group LLC boosted its stake in Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock valued at $27,000 after buying an additional 206 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in Newmont in the third quarter valued at about $27,000. Finally, Lodestone Wealth Management LLC acquired a new stake in Newmont in the fourth quarter valued at about $28,000. Institutional investors own 68.85% of the company's stock.

Analysts Set New Price Targets

NEM has been the topic of several research analyst reports. Barclays initiated coverage on Newmont in a research note on Thursday. They issued an "overweight" rating and a $133.00 price objective on the stock. 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. Bank of America raised their price objective on Newmont from $134.00 to $151.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. Wall Street Zen raised Newmont from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 16th. Finally, Sanford C. Bernstein raised Newmont from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $121.00 to $157.00 in a research note on Friday, February 27th. Two research 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 data from MarketBeat, Newmont currently has a consensus rating of "Moderate Buy" and a consensus target price of $142.05.

Newmont Price Performance

Newmont stock opened at $107.74 on Monday. The stock's 50 day moving average is $111.03 and its 200 day moving average is $108.19. 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 firm has a market cap of $115.02 billion, a P/E ratio of 13.97, a P/E/G ratio of 1.54 and a beta of 0.43. Newmont Corporation has a one year low of $51.80 and a one year high of $134.88.

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, topping analysts' consensus estimates of $2.07 by $0.83. The company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm's quarterly revenue was up 45.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.25 earnings per share. As a group, research analysts expect that Newmont Corporation will post 9.47 EPS for the current year.

Newmont Announces Dividend

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 issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, May 27th. Newmont's payout ratio is presently 13.49%.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $330,330.00. Following the completion of the sale, the executive vice president directly owned 49,315 shares in the company, valued at approximately $5,430,074.65. The trade was a 5.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David James Fry sold 18,394 shares of Newmont stock in a transaction that occurred 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 completion of the sale, the insider owned 17,147 shares of the company's stock, valued at approximately $1,911,033.15. The trade was a 51.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 43,068 shares of company stock valued at $4,769,475. Company insiders own 0.06% of the company's stock.

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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