Delta Investment Management LLC Acquires New Stake in Newmont Corporation $NEM

Key Points

• Delta Investment Management LLC bought a new position in Newmont (NYSE:NEM) in Q4, acquiring 26,841 shares valued at about $2.68 million, and institutional investors own roughly 68.85% of the company.
• Newmont beat expectations with Q1 EPS of $2.90 versus a $2.07 consensus and revenue of $7.31 billion, a 45.8% year-over-year increase.
• Insiders have sold 24,394 shares in the past 90 days (about $2.71 million), and the company recently declared a quarterly dividend of $0.26 (annualized $1.04, ~0.9% yield).

Delta Investment Management LLC bought a new position in Newmont Corporation (NYSE:NEM - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 26,841 shares of the basic materials company's stock, valued at approximately $2,680,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NEM. GoalVest Advisory LLC purchased a new stake in Newmont in the fourth quarter worth approximately $25,000. Physician Wealth Advisors Inc. lifted its holdings in shares of Newmont by 327.8% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company's stock worth $26,000 after acquiring an additional 236 shares during the last quarter. JPL Wealth Management LLC bought a new stake in shares of Newmont in the 3rd quarter worth approximately $27,000. Lodestone Wealth Management LLC purchased a new stake in shares of Newmont in the 4th quarter valued at $28,000. Finally, Rosenberg Matthew Hamilton grew its holdings in shares of Newmont by 308.0% during the 4th quarter. Rosenberg Matthew Hamilton now owns 306 shares of the basic materials company's stock valued at $31,000 after purchasing an additional 231 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Stock Performance

NEM traded up $2.81 during trading on Thursday, hitting $110.42. The company's stock had a trading volume of 920,146 shares, compared to its average volume of 9,997,061. The business's 50 day simple moving average is $113.85 and its 200-day simple moving average is $105.31. The firm has a market cap of $117.88 billion, a PE ratio of 14.29, a P/E/G ratio of 0.88 and a beta of 0.46. Newmont Corporation has a one year low of $48.27 and a one year high of $134.88. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. During the same period in the previous year, the business earned $1.25 earnings per share. Newmont's quarterly revenue was up 45.8% compared to the same quarter last year. As a group, sell-side analysts predict that Newmont Corporation will post 8.97 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. Newmont's dividend payout ratio is 13.49%.

Insider Transactions at Newmont

In other news, insider David James Fry sold 18,394 shares of the firm's stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the transaction, the insider owned 17,147 shares in the company, valued at $1,911,033.15. This trade represents a 51.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $113.09, for a total value of $339,270.00. Following the completion of the sale, the executive vice president directly owned 52,315 shares in the company, valued at approximately $5,916,303.35. The trade was a 5.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 24,394 shares of company stock valued at $2,713,281. Corporate insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NEM. UBS Group decreased their target price on shares of Newmont from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Friday, March 27th. TD lifted their price objective on Newmont from $116.00 to $129.00 and gave the stock a "hold" rating in a report on Monday. Wall Street Zen raised Newmont from a "hold" rating to a "buy" rating in a research note on Saturday, April 25th. The Goldman Sachs Group raised their price target on Newmont from $123.20 to $125.10 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Scotiabank lowered their price target on shares of Newmont from $152.00 to $151.00 and set a "sector outperform" rating for the company in a research report on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $142.51.

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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