Newmont Corporation $NEM Shares Acquired by World Investment Advisors

Key Points

• World Investment Advisors boosted its Newmont stake by 298.1% in the fourth quarter, ending with 19,255 shares valued at about $1.8 million.
• Newmont insiders recently sold shares, including EVP Peter Toth and Peter Wexler; over the last 90 days, insiders sold 43,068 shares worth about $4.77 million.
• Newmont reported strong quarterly results, with EPS of $2.90 versus $2.07 expected and revenue of $7.31 billion, and it also announced a $0.26 quarterly dividend payable June 22.

World Investment Advisors increased its position in Newmont Corporation (NYSE:NEM - Free Report) by 298.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,255 shares of the basic materials company's stock after acquiring an additional 14,418 shares during the period. World Investment Advisors' holdings in Newmont were worth $1,796,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. GoalVest Advisory LLC acquired a new stake in shares of Newmont in the 4th quarter worth about $25,000. Physician Wealth Advisors Inc. increased its holdings in shares of Newmont by 327.8% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company's stock worth $26,000 after acquiring an additional 236 shares during the period. Cornerstone Planning Group LLC increased its holdings in shares of Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock worth $27,000 after acquiring an additional 206 shares during the period. JPL Wealth Management LLC acquired a new stake in shares of Newmont in the 3rd quarter worth about $27,000. Finally, Lodestone Wealth Management LLC acquired a new stake in shares of Newmont in the 4th quarter worth about $28,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of Newmont 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 $330,330.00. Following the transaction, the executive vice president owned 49,315 shares of the company's stock, valued at $5,430,074.65. The trade was a 5.73% decrease in their position. The sale was disclosed in a document filed 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 Newmont stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 67,865 shares in the company, valued at $7,472,615.15. This represents a 16.47% decrease in their position. The SEC filing for this sale provides additional information. 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 90 days, insiders sold 43,068 shares of company stock worth $4,769,475. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NEM has been the topic of a number of analyst reports. TD Cowen reaffirmed a "buy" rating on shares of Newmont in a report on Monday, April 27th. The Goldman Sachs Group raised 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 raised their target price on shares of Newmont from $116.00 to $129.00 and gave the company a "hold" rating in a research note on Monday, April 27th. 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. Finally, Bank of America raised their target price on shares of Newmont from $134.00 to $151.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $142.51.

Newmont Stock Performance

Shares of NEM opened at $108.93 on Friday. The firm's 50 day moving average is $111.96 and its 200-day moving average is $107.04. The stock has a market capitalization of $116.29 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.52 and a beta of 0.43. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. Newmont Corporation has a 12-month low of $48.61 and a 12-month high of $134.88.

Newmont (NYSE:NEM - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.83. The company had revenue of $7.31 billion for 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 quarter in the previous year, the company posted $1.25 EPS. Equities research analysts anticipate that Newmont Corporation will post 9.72 EPS for the current fiscal year.

Newmont Announces Dividend

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