Farther Finance Advisors LLC Grows Stock Holdings in Newmont Corporation $NEM

Key Points

• Farther Finance Advisors LLC boosted its Newmont stake by 31.7% in Q4, buying 9,534 shares to hold 39,590 shares worth about $3.95 million, while institutional investors own roughly 68.85% of the stock.
• Insiders have been net sellers recently — including EVP Peter Toth and David James Fry — with a total of 24,394 shares sold (~$2.71 million) over the past 90 days, leaving insiders with just 0.06% ownership.
• Newmont beat quarterly estimates (EPS $2.52 vs. $1.81 expected; revenue $6.82B) and raised its quarterly dividend to $0.26 ($1.04 annual, ~0.9% yield), with analysts holding a consensus "Moderate Buy" rating and an average price target of $133.38.

Farther Finance Advisors LLC boosted its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 31.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,590 shares of the basic materials company's stock after buying an additional 9,534 shares during the period. Farther Finance Advisors LLC's holdings in Newmont were worth $3,953,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. GoalVest Advisory LLC purchased a new position in Newmont in the 4th quarter valued at approximately $25,000. Lodestone Wealth Management LLC purchased a new position in Newmont in the 4th quarter valued at approximately $28,000. Rosenberg Matthew Hamilton grew its stake in Newmont by 308.0% in the 4th quarter. Rosenberg Matthew Hamilton now owns 306 shares of the basic materials company's stock valued at $31,000 after buying an additional 231 shares in the last quarter. Physician Wealth Advisors Inc. grew its stake in Newmont by 327.8% in the 3rd 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. Finally, PMV Capital Advisers LLC bought a new position in Newmont in the 4th quarter valued at $32,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $113.09, for a total transaction of $339,270.00. Following the completion of the sale, the executive vice president directly owned 52,315 shares of the company's stock, valued at approximately $5,916,303.35. The trade was a 5.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David James Fry sold 18,394 shares of Newmont stock in a transaction on 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 sale, the insider directly owned 17,147 shares of the company's stock, valued at $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 24,394 shares of company stock valued at $2,713,281 over the last ninety days. 0.06% of the stock is currently owned by insiders.

Newmont Stock Up 2.7%

Shares of NYSE:NEM opened at $116.50 on Friday. Newmont Corporation has a one year low of $48.27 and a one year high of $134.88. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.02. The company has a market cap of $125.81 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 0.87 and a beta of 0.46. The firm has a fifty day moving average price of $115.51 and a two-hundred day moving average price of $103.72.

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 net margin of 31.25% and a return on equity of 23.28%. The company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.18 billion. During the same period in the previous year, the firm posted $1.40 EPS. The firm's revenue was up 20.6% compared to the same quarter last year. Analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Tuesday, March 3rd were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. This is an increase from Newmont's previous quarterly dividend of $0.25. Newmont's payout ratio is presently 16.28%.

Analysts Set New Price Targets

Several brokerages have commented on NEM. DZ Bank raised shares of Newmont to a "strong-buy" rating in a report on Monday, January 19th. Canadian Imperial Bank of Commerce cut their price target on shares of Newmont from $71.00 to $67.00 in a report on Friday, February 27th. Bank of America raised their price target on shares of Newmont from $134.00 to $151.00 and gave the company a "buy" rating in a report on Thursday, February 26th. Weiss Ratings reissued a "buy (b-)" rating on shares of Newmont in a report on Monday, December 29th. Finally, BMO Capital Markets cut their price target on shares of Newmont from $145.00 to $140.00 and set an "outperform" rating for the company in a report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Newmont has a consensus rating of "Moderate Buy" and an average price target of $133.38.

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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