LFG Wealth Partners LLC Makes New $1.38 Million Investment in Newmont Corporation $NEM

Key Points

• LFG Wealth Partners initiated a new position in Newmont, buying 13,859 shares worth about $1.38 million in the fourth quarter.
• Newmont’s latest quarterly results beat expectations, with EPS of $2.90 on revenue of $7.31 billion, and revenue jumped 45.8% from a year earlier.
• The company also announced a quarterly dividend of $0.26 per share, while analysts currently view the stock as a Moderate Buy with an average price target of $141.79.

LFG Wealth Partners LLC bought a new stake in shares of Newmont Corporation (NYSE:NEM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 13,859 shares of the basic materials company's stock, valued at approximately $1,384,000.

Other large investors have also modified their holdings of the company. CWM LLC raised its holdings in Newmont by 64.6% in the fourth quarter. CWM LLC now owns 202,892 shares of the basic materials company's stock worth $20,259,000 after purchasing an additional 79,617 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Newmont by 24.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company's stock valued at $30,775,000 after acquiring an additional 54,530 shares in the last quarter. AustralianSuper Pty Ltd lifted its holdings in shares of Newmont by 124.8% during the 3rd quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company's stock valued at $27,843,000 after purchasing an additional 183,360 shares during the last quarter. Leonteq Securities AG purchased a new stake in shares of Newmont during the 4th quarter valued at $9,018,000. Finally, Waverton Investment Management Ltd increased its position in Newmont by 3.4% during the 3rd quarter. Waverton Investment Management Ltd now owns 704,331 shares of the basic materials company's stock valued at $59,365,000 after buying an additional 23,139 shares in the last quarter. Institutional investors own 68.85% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NEM. TD Cowen restated a "buy" rating on shares of Newmont in a research note on Monday, April 27th. BNP Paribas Exane upped their target price on Newmont from $123.00 to $128.00 and gave the company a "neutral" rating in a research report on Monday, March 2nd. Scotiabank reduced their target price on Newmont from $152.00 to $151.00 and set a "sector outperform" rating for the company in a research note on Friday, March 20th. UBS Group reduced their price objective on Newmont from $150.00 to $140.00 and set a "buy" rating for the company in a research note on Friday, March 27th. Finally, Canaccord Genuity Group lifted their price objective on shares of Newmont from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $141.79.

Insiders Place Their Bets

In related news, CEO Natascha Viljoen sold 3,882 shares of the company's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the completion of the transaction, the chief executive officer owned 142,999 shares of the company's stock, valued at approximately $15,060,654.68. This represents a 2.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the firm's stock in a transaction that occurred 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 completion of the sale, 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. 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. Insiders have sold 31,556 shares of company stock worth $3,444,276 in the last 90 days. 0.06% of the stock is currently owned by company insiders.

Newmont Price Performance

Shares of NYSE NEM opened at $105.77 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The stock has a market capitalization of $112.91 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 1.66 and a beta of 0.42. The firm's 50 day simple moving average is $110.78 and its 200-day simple moving average is $110.28. Newmont Corporation has a 12 month low of $55.37 and a 12 month high of $134.88.

Newmont (NYSE:NEM - Get Free Report) last posted its 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 firm had revenue of $7.31 billion during the quarter, compared to analysts' expectations of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The business's revenue was up 45.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.25 EPS. Analysts expect that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Announces Dividend

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.