Newmont Corporation $NEM Shares Purchased by Corient Private Wealth LLC

Key Points

• Corient Private Wealth LLC increased its Newmont stake by 34.1% in the fourth quarter, ending with 129,422 shares valued at about $12.9 million.
• Newmont reported strong quarterly results, posting $2.90 EPS versus $2.07 expected and revenue of $7.31 billion, with revenue up 45.8% year over year.
• The company also paid a quarterly dividend of $0.26 per share, which annualizes to $1.04 and implies a 1.1% yield; meanwhile, analysts remain broadly positive with a consensus rating of Moderate Buy.

Corient Private Wealth LLC grew its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 34.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 129,422 shares of the basic materials company's stock after buying an additional 32,944 shares during the period. Corient Private Wealth LLC's holdings in Newmont were worth $12,929,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NEM. Flax Pond Capital LLC bought a new stake in Newmont during the fourth quarter valued at $3,658,000. Hsbc Holdings PLC grew its position in shares of Newmont by 28.0% during the 4th quarter. Hsbc Holdings PLC now owns 4,223,631 shares of the basic materials company's stock valued at $422,149,000 after buying an additional 923,546 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Newmont during the 4th quarter valued at about $339,000. Bayban bought a new position in Newmont in the fourth quarter worth about $30,000. Finally, Pure Financial Advisors LLC boosted its stake in Newmont by 55.8% in the fourth quarter. Pure Financial Advisors LLC now owns 3,731 shares of the basic materials company's stock valued at $373,000 after acquiring an additional 1,336 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Price Performance

Shares of NYSE NEM opened at $97.71 on Wednesday. The stock has a market cap of $104.31 billion, a P/E ratio of 12.67, a P/E/G ratio of 1.69 and a beta of 0.42. The firm's 50-day simple moving average is $109.22 and its 200 day simple moving average is $110.83. Newmont Corporation has a fifty-two week low of $55.37 and a fifty-two week 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.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.07 by $0.83. The firm had revenue of $7.31 billion during 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%. Newmont's revenue was up 45.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 EPS. Equities analysts expect that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Wednesday, May 27th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Wednesday, May 27th. Newmont's dividend payout ratio (DPR) is currently 13.49%.

Newmont News Roundup

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont received key regulatory approvals from British Columbia for its Red Chris Block Cave transition, allowing the mine to move from open-pit operations toward block caving and extending the asset’s mine life. Newmont (NEM) Receives Key Regulatory Approvals for Red Chris Block Cave Transition
• Positive Sentiment: Analysts continue to place Newmont on “Strong Buy” value-stock lists, reinforcing the view that the stock may be undervalued relative to its earnings and asset base. Best Value Stocks to Buy for June 23rd
• Positive Sentiment: Gold-sector coverage is supportive, with articles highlighting Newmont as a key name to watch while gold prices stay strong, which is favorable for a major gold producer like NEM. Why Is NYSE: NEM Drawing S&P 500 Attention as Gold Stays Strong?
• Neutral Sentiment: Newmont also announced CFO, COO, and CTO appointments, which may help clarify leadership structure, but the move is not likely to materially change fundamentals in the near term. Newmont Corporation (NEM) Announces CFO, COO, CTO Appointments

Insider Transactions at Newmont

In other news, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $252,812.56. Following the transaction, the insider directly owned 23,163 shares in the company, valued at approximately $2,550,477.93. This trade represents a 9.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $315,960.00. Following the completion of the sale, the executive vice president directly owned 46,315 shares in the company, valued at $4,877,895.80. This represents a 6.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,556 shares of company stock worth $3,120,276 in the last three months. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NEM. Jefferies Financial Group increased their price target on Newmont from $154.00 to $158.00 and gave the stock a "buy" rating in a research report on Monday, June 8th. BNP Paribas Exane dropped their target price on Newmont from $128.00 to $111.00 and set a "neutral" rating on the stock in a research report on Thursday, June 18th. Scotiabank cut their target price on Newmont from $152.00 to $151.00 and set a "sector outperform" rating on the stock in a research note on Friday, March 20th. BMO Capital Markets upped their price target on shares of Newmont from $140.00 to $145.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Finally, Citigroup lifted their price objective on shares of Newmont from $118.00 to $150.00 and gave the company a "buy" rating in a research report on Tuesday, March 3rd. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $140.98.

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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