Fideuram Asset Management Ireland dac Takes Position in Newmont Corporation $NEM

Key Points

• Fideuram Asset Management Ireland dac opened a new position in Newmont during the fourth quarter, buying 15,891 shares worth about $1.59 million.
• Newmont also saw insider selling, including transactions by David John Thornton and EVP Peter Toth under pre-arranged trading plans, with insiders selling 43,068 shares in the last quarter.
• The company reported strong quarterly results, beating EPS and revenue estimates, and it also announced a quarterly dividend of $0.26 per share; analysts currently rate the stock Moderate Buy on average.

Fideuram Asset Management Ireland dac acquired a new stake in Newmont Corporation (NYSE:NEM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 15,891 shares of the basic materials company's stock, valued at approximately $1,587,000.

A number of other hedge funds also recently made changes to their positions in NEM. GoalVest Advisory LLC acquired a new stake in shares of Newmont in the fourth quarter valued at approximately $25,000. Physician Wealth Advisors Inc. lifted its position in shares of 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 during the last quarter. Cornerstone Planning Group LLC lifted its position in shares of 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 during the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Newmont in the third quarter valued at approximately $27,000. Finally, Lodestone Wealth Management LLC acquired a new stake in shares of Newmont in the fourth quarter valued at approximately $28,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Newmont news, insider David John Thornton sold 2,296 shares of the firm's stock in a transaction 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 transaction, the insider owned 23,163 shares in the company, valued at $2,550,477.93. This trade represents a 9.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 firm's stock in a transaction 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 transaction, the executive vice president owned 49,315 shares in the company, valued at approximately $5,430,074.65. This trade represents a 5.73% decrease in their position. 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. Insiders have sold 43,068 shares of company stock worth $4,769,475 in the last quarter. Insiders own 0.06% of the company's stock.

Newmont Stock Performance

NYSE:NEM opened at $109.60 on Friday. The stock has a market cap of $117.01 billion, a P/E ratio of 14.22 and a beta of 0.43. The stock has a 50 day simple moving average of $110.89 and a 200 day simple moving average of $108.96. 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 Corporation has a 1-year low of $51.80 and a 1-year high of $134.88.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.83. The business had revenue of $7.31 billion during the quarter, compared to analysts' expectations of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm's revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period last year, the firm posted $1.25 EPS. Research analysts anticipate that Newmont Corporation will post 9.72 earnings per share for the current year.

Newmont Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. BMO Capital Markets raised their price objective on Newmont from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Canadian Imperial Bank of Commerce cut their price objective on Newmont from $177.00 to $176.00 and set an "outperform" rating for the company in a research report on Tuesday, April 21st. National Bank Financial lifted their price target on Newmont from $130.00 to $140.00 and gave the stock a "sector perform" rating in a report on Friday, April 24th. TD Cowen reissued a "buy" rating on shares of Newmont in a report on Monday, April 27th. Finally, Argus lifted their price target on Newmont from $94.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Two investment 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 company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $141.53.

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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