Horizon Investments LLC Sells 18,892 Shares of Newmont Corporation $NEM

Key Points

• Horizon Investments reduced its stake in Newmont by 7.8% in Q4, selling 18,892 shares and leaving it with 224,864 shares valued at about $22.45 million.
• Newmont reported a strong quarter with EPS $2.90 versus the $2.07 consensus and revenue of $7.31 billion, up 45.8% year‑over‑year.
• The company announced a quarterly dividend of $0.26 (annualized $1.04, ~1.0% yield) and carries a consensus analyst rating of “Moderate Buy” with an average target of $142.51.

Horizon Investments LLC reduced its stake in Newmont Corporation (NYSE:NEM - Free Report) by 7.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 224,864 shares of the basic materials company's stock after selling 18,892 shares during the period. Horizon Investments LLC's holdings in Newmont were worth $22,453,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NEM. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Newmont by 172.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company's stock worth $362,888,000 after acquiring an additional 2,723,044 shares during the period. Assetmark Inc. raised its position in shares of Newmont by 398.3% in the fourth quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company's stock worth $286,619,000 after buying an additional 2,294,396 shares in the last quarter. Boston Partners raised its position in shares of Newmont by 49.3% in the third quarter. Boston Partners now owns 6,931,710 shares of the basic materials company's stock worth $585,828,000 after buying an additional 2,288,653 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Newmont by 106.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 4,155,210 shares of the basic materials company's stock worth $349,288,000 after buying an additional 2,146,905 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Newmont by 142.0% in the second quarter. Ameriprise Financial Inc. now owns 3,262,258 shares of the basic materials company's stock worth $189,963,000 after buying an additional 1,914,286 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Trading Down 2.3%

NYSE NEM opened at $108.58 on Friday. The stock's 50-day simple moving average is $113.57 and its two-hundred day simple moving average is $105.35. Newmont Corporation has a twelve month low of $48.27 and a twelve month 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. The company has a market capitalization of $115.91 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 2.03 and a beta of 0.46.

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, beating analysts' consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter last year, the business posted $1.25 earnings per share. The company's revenue for the quarter was up 45.8% on a year-over-year basis. Research analysts forecast that Newmont Corporation will post 9.47 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be issued 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 payout ratio is currently 13.49%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on NEM shares. National Bank Financial increased their price objective on Newmont from $130.00 to $140.00 and gave the stock a "sector perform" rating in a research report on Friday, April 24th. Citigroup increased their price objective on Newmont from $118.00 to $150.00 and gave the stock a "buy" rating in a research report on Tuesday, March 3rd. Jefferies Financial Group increased their price objective on Newmont from $162.00 to $165.00 and gave the stock a "buy" rating in a research report on Friday, April 10th. TD increased their price objective on Newmont from $116.00 to $129.00 and gave the stock a "hold" rating in a research report on Monday, April 27th. Finally, Canadian Imperial Bank of Commerce lowered their price objective on Newmont from $177.00 to $176.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $142.51.

Insider Activity

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

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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