Hillsdale Investment Management Inc. Takes Position in Newmont Corporation $NEM

Hillsdale Investment Management Inc. purchased a new stake in Newmont Corporation (NYSE:NEM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,000 shares of the basic materials company's stock, valued at approximately $998,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC grew its holdings in Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company's stock worth $506,000 after acquiring an additional 1,847 shares during the period. Woodline Partners LP grew its holdings in Newmont by 40.7% during the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company's stock worth $4,644,000 after acquiring an additional 27,813 shares during the period. Sivia Capital Partners LLC acquired a new stake in Newmont during the 2nd quarter worth $240,000. Cerity Partners LLC grew its holdings in shares of Newmont by 108.9% in the 2nd quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company's stock valued at $7,303,000 after buying an additional 65,342 shares during the period. Finally, NewEdge Advisors LLC grew its holdings in shares of Newmont by 8.5% in the 2nd quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company's stock valued at $2,854,000 after buying an additional 3,856 shares during the period. Institutional investors and hedge funds own 68.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NEM shares. Scotiabank decreased their price target on shares of Newmont from $152.00 to $151.00 and set a "sector outperform" rating for the company in a report on Friday, March 20th. National Bank Financial boosted their price objective on shares of Newmont from $130.00 to $140.00 and gave the company a "sector perform" rating in a research report on Friday, April 24th. Bank of America boosted their price objective on shares of Newmont from $134.00 to $151.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. Citigroup boosted their price objective on shares of Newmont from $118.00 to $150.00 and gave the company a "buy" rating in a research report on Tuesday, March 3rd. Finally, Barclays assumed coverage on shares of Newmont in a research report on Thursday, May 21st. They issued an "overweight" rating and a $133.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $141.48.

Newmont Stock Performance

Shares of Newmont stock opened at $108.35 on Tuesday. The company has a market cap of $115.67 billion, a PE ratio of 14.05 and a beta of 0.43. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average of $111.08 and a 200-day moving average of $109.23. Newmont Corporation has a 1-year low of $52.08 and a 1-year high of $134.88.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.07 by $0.83. The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The firm's revenue was up 45.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 EPS. As a group, equities research analysts forecast that Newmont Corporation will post 9.72 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company 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 $0.26 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. Newmont's dividend payout ratio (DPR) is currently 13.49%.

Insider Transactions at Newmont

In other news, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction dated Friday, May 1st. The shares were 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 in the company, valued at $2,550,477.93. This trade represents a 9.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 Wexler sold 13,378 shares of the firm's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the transaction, the executive vice president directly owned 67,865 shares in the company, valued at $7,472,615.15. The trade was a 16.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Over the last ninety days, insiders sold 43,068 shares of company stock worth $4,769,475. 0.06% of the stock is currently owned by 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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