New Age Alpha Advisors LLC Sells 26,144 Shares of Newmont Corporation $NEM

Key Points

• New Age Alpha Advisors LLC cut its Newmont position by 22.8% in the fourth quarter, selling 26,144 shares and leaving it with 88,347 shares worth about $8.82 million.
• Newmont beat earnings expectations in its latest quarterly report, posting $2.90 EPS versus the $2.07 consensus and revenue of $7.31 billion, up 45.8% from a year earlier.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $142.05, while the company also announced a quarterly dividend of $0.26 per share.

New Age Alpha Advisors LLC trimmed its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 22.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 88,347 shares of the basic materials company's stock after selling 26,144 shares during the period. New Age Alpha Advisors LLC's holdings in Newmont were worth $8,821,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. GoalVest Advisory LLC purchased a new stake in shares of Newmont in the fourth quarter valued at about $25,000. Physician Wealth Advisors Inc. raised its holdings in shares of Newmont by 327.8% in the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company's stock valued at $26,000 after purchasing an additional 236 shares during the last quarter. Cornerstone Planning Group LLC raised its holdings in shares of Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 206 shares during the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Newmont in the third quarter valued at about $27,000. Finally, Lodestone Wealth Management LLC purchased a new stake in shares of Newmont in the fourth quarter valued at about $28,000. 68.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on NEM shares. BMO Capital Markets increased their target price on shares of Newmont from $140.00 to $145.00 and gave the company an "outperform" rating in a report on Friday, April 24th. UBS Group lowered their target price 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. Royal Bank Of Canada increased their target price on shares of Newmont from $120.00 to $125.00 and gave the company an "outperform" rating in a report on Tuesday, February 3rd. Sanford C. Bernstein upgraded shares of Newmont from a "market perform" rating to an "outperform" rating and increased their target price for the company from $121.00 to $157.00 in a report on Friday, February 27th. Finally, Barclays started coverage on shares of Newmont in a report on Thursday. They issued an "overweight" rating and a $133.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $142.05.

Newmont Stock Performance

NYSE NEM opened at $107.74 on Monday. Newmont Corporation has a 52-week low of $51.80 and a 52-week high of $134.88. The company has a 50-day simple moving average of $111.03 and a 200 day simple moving average of $108.19. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The company has a market capitalization of $115.02 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 1.54 and a beta of 0.43.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter last year, the company posted $1.25 earnings per share. The firm's quarterly revenue was up 45.8% compared to the same quarter last year. On average, research analysts predict that Newmont Corporation will post 9.47 EPS for the current year.

Newmont Announces Dividend

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

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 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 transaction of $330,330.00. Following the completion of the sale, the executive vice president owned 49,315 shares in the company, valued at approximately $5,430,074.65. This trade represents a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 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 $1,473,051.58. Following the sale, the executive vice president owned 67,865 shares of the company's stock, valued at $7,472,615.15. This trade represents a 16.47% decrease in their position. 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 three months, insiders have sold 43,068 shares of company stock worth $4,769,475. 0.06% of the stock is currently owned by corporate insiders.

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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