Colrain Capital LLC Sells 14,415 Shares of Newmont Corporation $NEM

Key Points

• Colrain Capital LLC trimmed its Newmont stake by 6.5% in the fourth quarter, selling 14,415 shares and leaving it with 208,185 shares valued at about $20.8 million. Newmont remains its second-largest holding, making up 11.4% of the portfolio.
• Newmont reported strong quarterly results, posting EPS of $2.90 versus estimates of $2.07 and revenue of $7.31 billion versus $6.83 billion expected. Revenue jumped 45.8% year over year, and analysts now forecast full-year EPS of 9.91.
• The company is also returning cash to shareholders with a quarterly dividend of $0.26 per share, payable June 22, which works out to an annualized yield of about 1.1%. Meanwhile, analysts remain mostly bullish, with a consensus rating of “Moderate Buy” and an average price target of $142.26.

Colrain Capital LLC lowered its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 6.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 208,185 shares of the basic materials company's stock after selling 14,415 shares during the quarter. Newmont comprises approximately 11.4% of Colrain Capital LLC's investment portfolio, making the stock its 2nd largest holding. Colrain Capital LLC's holdings in Newmont were worth $20,787,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. CWM LLC lifted its holdings in shares of Newmont by 64.6% during the fourth quarter. CWM LLC now owns 202,892 shares of the basic materials company's stock worth $20,259,000 after purchasing an additional 79,617 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Newmont by 24.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company's stock worth $30,775,000 after purchasing an additional 54,530 shares during the period. AustralianSuper Pty Ltd lifted its holdings in shares of Newmont by 124.8% during the third quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company's stock worth $27,843,000 after purchasing an additional 183,360 shares during the period. Waverton Investment Management Ltd lifted its holdings in shares of Newmont by 3.4% during the third quarter. Waverton Investment Management Ltd now owns 704,331 shares of the basic materials company's stock worth $59,365,000 after purchasing an additional 23,139 shares during the period. Finally, Leonteq Securities AG acquired a new stake in shares of Newmont during the fourth quarter worth about $9,018,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Trading Up 5.1%

Shares of NYSE:NEM opened at $97.52 on Friday. Newmont Corporation has a 12-month low of $54.14 and a 12-month high of $134.88. The company has a market capitalization of $104.11 billion, a PE ratio of 12.65, a PEG ratio of 1.54 and a beta of 0.42. The business has a 50 day moving average of $111.21 and a two-hundred day moving average of $110.05. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15.

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, beating analysts' consensus estimates of $2.07 by $0.83. The company had revenue of $7.31 billion during 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%.Newmont's revenue for the quarter was up 45.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 earnings per share. As a group, analysts forecast 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. Stockholders of record on Wednesday, May 27th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont's dividend payout ratio is presently 13.49%.

Analyst Ratings Changes

NEM has been the subject of a number of research reports. Bank of America lifted their target price on Newmont from $134.00 to $151.00 and gave the stock a "buy" rating in a report on Thursday, February 26th. Macquarie Infrastructure boosted their price target on Newmont from $130.00 to $133.00 and gave the company an "outperform" rating in a report on Monday, April 27th. Barclays began coverage on Newmont in a report on Thursday, May 21st. They issued an "overweight" rating and a $133.00 price target for the company. BNP Paribas Exane boosted their price target on Newmont from $123.00 to $128.00 and gave the company a "neutral" rating in a report on Monday, March 2nd. Finally, Scotiabank decreased their price target on Newmont from $152.00 to $151.00 and set a "sector outperform" rating for the company in a report on Friday, March 20th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $142.26.

Insider Buying and Selling at Newmont

In other news, insider David John Thornton sold 2,296 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 23,163 shares of the company's stock, valued at $2,550,477.93. This represents a 9.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 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 Toth sold 3,000 shares of the company's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $315,960.00. Following the transaction, the executive vice president directly owned 46,315 shares of the company's stock, valued at approximately $4,877,895.80. The trade was a 6.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 49,950 shares of company stock worth $5,494,288. 0.06% of the stock is currently owned by corporate insiders.

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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