Newmont Corporation $NEM Shares Purchased by Caprock Group LLC

Key Points

• Caprock Group LLC raised its Newmont stake by 18.2% in Q4, buying 12,619 shares to own 81,938 shares valued at about $8.18 million.
• Newmont beat Q4 estimates with $2.52 EPS and $6.82B revenue, increased its quarterly dividend to $0.26 (annualized $1.04, yield 0.9%), and carries a consensus "Moderate Buy" target of $138.26.
• Insiders have been net sellers — 24,394 shares sold over the past 90 days (insiders own 0.06%) — while institutional investors hold 68.85% of the stock.

Caprock Group LLC grew its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 18.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 81,938 shares of the basic materials company's stock after purchasing an additional 12,619 shares during the quarter. Caprock Group LLC's holdings in Newmont were worth $8,182,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Apella Capital LLC grew its holdings 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 during the last quarter. New Wave Wealth Advisors LLC grew its holdings 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 during the last quarter. Novem Group grew its holdings 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 during the last quarter. Norden Group LLC grew its holdings 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 during the last quarter. Finally, Brown Miller Wealth Management LLC grew its holdings in shares of Newmont by 2.7% during the fourth quarter. Brown Miller Wealth Management LLC now owns 4,268 shares of the basic materials company's stock valued at $426,000 after purchasing an additional 113 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Stock Performance

Shares of NEM stock opened at $111.87 on Thursday. Newmont Corporation has a 12-month low of $48.27 and a 12-month high of $134.88. The firm has a market capitalization of $120.82 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 0.84 and a beta of 0.46. The business has a 50 day simple moving average of $114.89 and a 200 day simple moving average of $104.40. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.02.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The basic materials company reported $2.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.81 by $0.71. Newmont had a return on equity of 23.28% and a net margin of 31.25%.The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.18 billion. During the same period in the prior year, the company posted $1.40 EPS. The business's revenue for the quarter was up 20.6% compared to the same quarter last year. On average, equities research analysts anticipate that Newmont Corporation will post 8.83 EPS for the current year.

Newmont Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Tuesday, March 3rd were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, March 3rd. This is an increase from Newmont's previous quarterly dividend of $0.25. Newmont's dividend payout ratio is 16.28%.

Analysts Set New Price Targets

Several research firms have recently commented on NEM. BMO Capital Markets lowered their target price on Newmont from $145.00 to $140.00 and set an "outperform" rating for the company in a report on Friday, February 20th. Zacks Research lowered Newmont from a "strong-buy" rating to a "hold" rating in a report on Friday, April 3rd. TD Cowen lowered their target price on Newmont from $118.00 to $116.00 and set a "hold" rating for the company in a report on Tuesday. Royal Bank Of Canada upped their target price on Newmont from $120.00 to $125.00 and gave the company an "outperform" rating in a report on Tuesday, February 3rd. Finally, UBS Group lowered their target price on Newmont from $150.00 to $140.00 and set a "buy" rating for the company in a report on Friday, March 27th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Newmont presently has a consensus rating of "Moderate Buy" and a consensus target price of $138.26.

Insiders Place Their Bets

In other Newmont news, insider David James Fry sold 18,394 shares of the stock in a transaction 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 completion of the transaction, the insider directly owned 17,147 shares of the company's stock, valued at approximately $1,911,033.15. This trade represents a 51.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $113.09, for a total value of $339,270.00. Following the transaction, the executive vice president directly owned 52,315 shares of the company's stock, valued at approximately $5,916,303.35. The trade was a 5.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 24,394 shares of company stock valued at $2,713,281. 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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