Newmont Corporation $NEM Holdings Boosted by DNB Asset Management AS

Key Points

• DNB Asset Management AS increased its stake in Newmont by 4.4% in the fourth quarter, bringing its holdings to 246,429 shares valued at about $24.6 million.
• Newmont posted stronger-than-expected quarterly results, reporting EPS of $2.90 versus consensus of $2.07 and revenue of $7.31 billion, up 45.8% from a year earlier.
• Analysts remain mostly bullish on the gold miner, with a consensus rating of “Moderate Buy” and an average price target of $142.51, while the company also announced a quarterly dividend of $0.26 per share.

DNB Asset Management AS boosted its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 4.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 246,429 shares of the basic materials company's stock after purchasing an additional 10,376 shares during the period. DNB Asset Management AS's holdings in Newmont were worth $24,606,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GoalVest Advisory LLC purchased a new position in Newmont during the 4th quarter worth approximately $25,000. Physician Wealth Advisors Inc. grew its position in Newmont by 327.8% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company's stock worth $26,000 after purchasing an additional 236 shares in the last quarter. Cornerstone Planning Group LLC grew its position in Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock worth $27,000 after purchasing an additional 206 shares in the last quarter. JPL Wealth Management LLC purchased a new position in Newmont during the 3rd quarter worth approximately $27,000. Finally, Lodestone Wealth Management LLC purchased a new position in Newmont during the 4th quarter worth approximately $28,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the company'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 transaction of $330,330.00. Following the transaction, the executive vice president directly owned 49,315 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David James Fry sold 18,394 shares of the company's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the transaction, the insider owned 17,147 shares in the company, valued at $1,911,033.15. The trade was a 51.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 43,068 shares of company stock valued at $4,769,475 over the last ninety days. Company insiders own 0.06% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NEM shares. Argus lifted their target price on shares of Newmont from $94.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. TD Securities reissued a "hold" rating and set a $129.00 target price on shares of Newmont in a research note on Monday, April 27th. The Goldman Sachs Group lifted their target price on shares of Newmont from $123.20 to $125.10 and gave the company a "buy" rating in a research note on Tuesday, April 28th. TD Cowen reissued a "buy" rating on shares of Newmont in a research note on Monday, April 27th. Finally, DZ Bank raised shares of Newmont to a "strong-buy" rating in a research note on Monday, January 19th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $142.51.

Newmont Price Performance

NYSE:NEM opened at $108.93 on Friday. The firm has a market cap of $116.29 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.52 and a beta of 0.43. Newmont Corporation has a 12 month low of $48.61 and a 12 month high of $134.88. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The company's 50-day moving average price is $111.96 and its two-hundred day moving average price is $107.04.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating analysts' consensus estimates of $2.07 by $0.83. The firm had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company's revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 earnings per share. On average, equities analysts anticipate that Newmont Corporation will post 9.72 EPS for the current fiscal year.

Newmont Announces Dividend

The business 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. 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 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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