Hussman Strategic Advisors Inc. Decreases Stake in Newmont Corporation $NEM

Key Points

• Hussman Strategic Advisors cut its Newmont stake by 40.2% in Q4, selling 20,500 shares and retaining 30,500 shares valued at about $3.045 million (Newmont is ~0.7% of Hussman's holdings and its 20th largest position).
• Newmont beat expectations with quarterly EPS of $2.90 versus $2.07 estimated and revenue of $7.31B (up 45.8% YoY), and announced a quarterly dividend of $0.26 per share (annualized $1.04, ~1.0% yield; ex-dividend May 27, payable June 22).
• Analyst sentiment is broadly positive with a consensus rating of "Moderate Buy" and an average price target of $142.51, while institutional investors own about 68.85% of the stock amid recent insider selling of roughly 24,394 shares (~$2.7M) over three months.

Hussman Strategic Advisors Inc. lowered its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 40.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 30,500 shares of the basic materials company's stock after selling 20,500 shares during the quarter. Newmont comprises approximately 0.7% of Hussman Strategic Advisors Inc.'s holdings, making the stock its 20th largest holding. Hussman Strategic Advisors Inc.'s holdings in Newmont were worth $3,045,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NEM. Brighton Jones LLC boosted its holdings in Newmont by 15.7% in 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 boosted its holdings in Newmont by 40.7% in 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 purchased a new position in Newmont in the 2nd quarter worth approximately $240,000. Cerity Partners LLC boosted its holdings in Newmont by 108.9% in the 2nd quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company's stock worth $7,303,000 after acquiring an additional 65,342 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in Newmont by 8.5% in the 2nd quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company's stock worth $2,854,000 after acquiring an additional 3,856 shares during the period. Hedge funds and other institutional investors own 68.85% of the company's stock.

Newmont Stock Performance

NEM stock opened at $108.58 on Friday. 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 firm has a market cap of $115.91 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.98 and a beta of 0.43. Newmont Corporation has a 12-month low of $48.27 and a 12-month high of $134.88. The stock's 50 day simple moving average is $113.57 and its 200 day simple moving average is $105.47.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.83. The business had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business's revenue was up 45.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 EPS. As a group, equities research analysts predict that Newmont Corporation will post 9.47 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont's dividend payout ratio is currently 13.49%.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of analyst reports. Canadian Imperial Bank of Commerce decreased their price target on Newmont from $177.00 to $176.00 and set an "outperform" rating for the company in a report on Tuesday, April 21st. TD Cowen restated a "buy" rating on shares of Newmont in a report on Monday, April 27th. BNP Paribas Exane upped their price target on Newmont from $123.00 to $128.00 and gave the stock a "neutral" rating in a report on Monday, March 2nd. The Goldman Sachs Group upped their price target on Newmont from $123.20 to $125.10 and gave the stock a "buy" rating in a report on Tuesday, April 28th. Finally, TD upped their price target on Newmont from $116.00 to $129.00 and gave the stock a "hold" rating in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Newmont presently has a consensus rating of "Moderate Buy" and an average price target of $142.51.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $113.09, for a total transaction of $339,270.00. Following the sale, the executive vice president directly owned 52,315 shares of the company's stock, valued at approximately $5,916,303.35. This represents a 5.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David James Fry sold 18,394 shares of the company's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the sale, the insider directly owned 17,147 shares in the company, valued at approximately $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 24,394 shares of company stock worth $2,713,281. Corporate insiders own 0.06% of the company's stock.

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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