Leonteq Securities AG Purchases New Shares in Newmont Corporation $NEM

Key Points

• Leonteq Securities AG opened a new position in Newmont during the fourth quarter, buying 90,319 shares worth about $9.0 million.
• Institutional interest in Newmont remains strong, with 68.85% of the stock owned by institutional investors and several other funds recently increasing their stakes.
• Wall Street sentiment is broadly positive: analysts rate Newmont a Moderate Buy on average, with a consensus price target of $142.51, while the company also posted better-than-expected quarterly earnings and revenue.

Leonteq Securities AG purchased a new stake in shares of Newmont Corporation (NYSE:NEM - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 90,319 shares of the basic materials company's stock, valued at approximately $9,018,000.

Several other hedge funds also recently made changes to their positions in the company. Apella Capital LLC boosted its position in shares of Newmont by 4.1% during the fourth 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 boosted its position in shares of Newmont by 1.3% during the fourth 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 boosted its position in shares of Newmont by 3.7% during the fourth 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 boosted its position in shares of Newmont by 0.7% during the fourth 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 boosted its position in shares of Newmont by 28.6% during the fourth 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. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NEM has been the topic of several research reports. BNP Paribas Exane lifted their price target on Newmont from $123.00 to $128.00 and gave the company a "neutral" rating in a research report on Monday, March 2nd. Canaccord Genuity Group lifted their price target on Newmont from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. TD Securities restated a "hold" rating and set a $129.00 price target on shares of Newmont in a research report on Monday, April 27th. TD lifted their price target on Newmont from $116.00 to $129.00 and gave the company a "hold" rating in a research report on Monday, April 27th. Finally, The Goldman Sachs Group boosted their target price on Newmont from $123.20 to $125.10 and gave the stock a "buy" rating in a report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $142.51.

Newmont Trading Up 2.2%

Newmont stock opened at $107.36 on Thursday. 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 business's fifty day simple moving average is $111.41 and its two-hundred day simple moving average is $107.81. Newmont Corporation has a 12 month low of $51.80 and a 12 month high of $134.88. The company has a market capitalization of $114.61 billion, a price-to-earnings ratio of 13.92, a price-to-earnings-growth ratio of 1.50 and a beta of 0.43.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the company posted $1.25 earnings per share. The company's revenue for the quarter was up 45.8% compared to the same quarter last year. As a group, equities analysts predict that Newmont Corporation will post 9.47 earnings per share for the current fiscal year.

Newmont Announces Dividend

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

Insider Buying and Selling

In other news, EVP Peter Toth sold 3,000 shares of the company'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 $330,330.00. Following the transaction, the executive vice president directly owned 49,315 shares of the company's stock, valued at $5,430,074.65. This represents a 5.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the company's stock in a transaction on 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. The trade was a 9.02% 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. 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 valued at $4,769,475. 0.06% of the stock is 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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