Cwm LLC Has $20.26 Million Stock Position in Newmont Corporation $NEM

Key Points

• Cwm LLC increased its stake in Newmont by 64.6%, owning 202,892 shares worth about $20.26 million after purchasing an additional 79,617 shares in the 4th quarter.
• Insiders sold 24,394 Newmont shares valued at roughly $2.71 million in the last 90 days, and company insiders now own only 0.06% of the stock.
• Newmont beat quarterly expectations with $2.52 EPS (vs. $1.81 expected) and 20.6% revenue growth, raised its quarterly dividend to $0.26, and carries a MarketBeat consensus rating of "Moderate Buy" with an average price target of $133.38.

Cwm LLC lifted its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 64.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 202,892 shares of the basic materials company's stock after purchasing an additional 79,617 shares during the quarter. Cwm LLC's holdings in Newmont were worth $20,259,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NEM. GoalVest Advisory LLC acquired a new stake in shares of Newmont during the 4th quarter worth $25,000. Physician Wealth Advisors Inc. grew its holdings in shares of Newmont by 327.8% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company's stock worth $26,000 after purchasing an additional 236 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Newmont during the 3rd quarter worth $27,000. Lodestone Wealth Management LLC acquired a new stake in shares of Newmont during the 4th quarter worth $28,000. Finally, Caldwell Trust Co acquired a new stake in shares of Newmont during the 2nd quarter worth $31,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the firm's stock in a transaction that occurred 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 $5,916,303.35. This trade represents a 5.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David James Fry sold 18,394 shares of the firm's stock in a transaction on Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the transaction, the insider owned 17,147 shares of the company's stock, valued at $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 90 days, insiders sold 24,394 shares of company stock valued at $2,713,281. 0.06% of the stock is currently owned by company insiders.

Newmont Stock Up 2.7%

NEM stock opened at $116.50 on Friday. The company has a current ratio of 2.29, a quick ratio of 2.02 and a debt-to-equity ratio of 0.16. The company's 50 day moving average is $115.51 and its 200 day moving average is $103.72. The stock has a market cap of $125.81 billion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 0.87 and a beta of 0.46. Newmont Corporation has a 1-year low of $48.27 and a 1-year high of $134.88.

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

Newmont Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Tuesday, March 3rd were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, March 3rd. This is a boost from Newmont's previous quarterly dividend of $0.25. Newmont's dividend payout ratio (DPR) is 16.28%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NEM shares. 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. Bank of America raised their price objective on Newmont from $134.00 to $151.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. Wall Street Zen cut Newmont from a "buy" rating to a "hold" rating in a research note on Saturday, April 4th. Citigroup raised their price objective on Newmont from $118.00 to $150.00 and gave the company a "buy" rating in a research note on Tuesday, March 3rd. Finally, TD Cowen lifted their target price on Newmont from $89.00 to $120.00 and gave the company a "hold" rating in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $133.38.

Newmont Company 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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