IPG Investment Advisors LLC Invests $1.61 Million in Newmont Corporation $NEM

Key Points

• IPG Investment Advisors LLC opened a new position in Newmont during the fourth quarter, buying 16,083 shares worth about $1.61 million.
• Analysts remain broadly positive on Newmont, with a Moderate Buy consensus and an average price target of $141.53. Recent calls included upgrades from Barclays, Sanford C. Bernstein, and Stifel Nicolaus.
• Newmont reported strong quarterly results, posting $2.90 EPS on revenue of $7.31 billion, both above expectations, and it also announced a quarterly dividend of $0.26 per share.

IPG Investment Advisors LLC acquired a new position in Newmont Corporation (NYSE:NEM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,083 shares of the basic materials company's stock, valued at approximately $1,606,000.

Other large investors also recently made changes to their positions in the company. Apella Capital LLC grew its holdings in Newmont by 4.1% during the 4th quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company's stock valued at $219,000 after purchasing an additional 86 shares in the last quarter. New Wave Wealth Advisors LLC grew its holdings in Newmont by 1.3% during the 4th quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company's stock valued at $684,000 after purchasing an additional 88 shares in the last quarter. Novem Group grew its holdings in Newmont by 3.7% during the 4th quarter. Novem Group now owns 2,487 shares of the basic materials company's stock valued at $248,000 after purchasing an additional 88 shares in the last quarter. Norden Group LLC grew its holdings in Newmont by 0.7% during the 4th quarter. Norden Group LLC now owns 12,367 shares of the basic materials company's stock valued at $1,235,000 after purchasing an additional 90 shares in the last quarter. Finally, Coston McIsaac & Partners grew its holdings in Newmont by 28.6% during the 4th quarter. Coston McIsaac & Partners now owns 450 shares of the basic materials company's stock valued at $44,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NEM. UBS Group lowered their price target on shares of Newmont from $150.00 to $140.00 and set a "buy" rating for the company in a report on Friday, March 27th. Barclays began coverage on shares of Newmont in a report on Thursday, May 21st. They set an "overweight" rating and a $133.00 price target for the company. Wall Street Zen raised shares of Newmont from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 16th. Sanford C. Bernstein raised shares of Newmont from a "market perform" rating to an "outperform" rating and raised their price target for the company from $121.00 to $157.00 in a report on Friday, February 27th. Finally, Stifel Nicolaus raised their price target on shares of Newmont from $120.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday, February 10th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Newmont presently has a consensus rating of "Moderate Buy" and an average price target of $141.53.

Insider Buying and Selling at Newmont

In other news, insider David John Thornton sold 2,296 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 value of $252,812.56. Following the transaction, the insider directly owned 23,163 shares in the company, valued at approximately $2,550,477.93. This trade represents a 9.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $330,330.00. Following the completion of the transaction, the executive vice president owned 49,315 shares in the company, valued at approximately $5,430,074.65. The trade was a 5.73% decrease in their ownership of the stock. 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. In the last quarter, insiders have sold 43,068 shares of company stock valued at $4,769,475. Corporate insiders own 0.06% of the company's stock.

Newmont Trading Down 4.0%

Newmont stock opened at $107.17 on Thursday. The firm's 50-day moving average is $110.88 and its 200-day moving average is $108.78. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. Newmont Corporation has a 1 year low of $51.80 and a 1 year high of $134.88. The company has a market cap of $114.41 billion, a P/E ratio of 13.90 and a beta of 0.43.

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, topping analysts' consensus estimates of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. During the same period last year, the firm posted $1.25 EPS. The company's revenue for the quarter was up 45.8% on a year-over-year basis. On average, equities analysts expect that Newmont Corporation will post 9.72 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, May 27th. Newmont's dividend payout ratio (DPR) is presently 13.49%.

Newmont Company 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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