Newmont Corporation $NEM Shares Purchased by Focus Partners Advisor Solutions LLC

Key Points

• Focus Partners Advisor Solutions LLC boosted its Newmont stake by 87.6% in the fourth quarter, ending with 40,235 shares valued at about $4.0 million.
• Newmont reported strong quarterly results, with EPS of $2.90 versus the $2.07 estimate and revenue of $7.31 billion, up 45.8% year over year.
• The company declared a quarterly dividend of $0.26 per share, payable June 22, while analysts currently rate the stock Moderate Buy with a consensus target price of $142.26.

Focus Partners Advisor Solutions LLC increased its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 87.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,235 shares of the basic materials company's stock after acquiring an additional 18,790 shares during the period. Focus Partners Advisor Solutions LLC's holdings in Newmont were worth $4,018,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of NEM. GoalVest Advisory LLC acquired a new position in shares of Newmont in the fourth quarter worth $25,000. Cornerstone Planning Group LLC grew its stake 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 worth $27,000 after acquiring an additional 206 shares in the last quarter. JPL Wealth Management LLC acquired a new position in shares of Newmont in the third quarter worth $27,000. Lodestone Wealth Management LLC acquired a new position in shares of Newmont in the fourth quarter worth $28,000. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of Newmont in the fourth quarter worth $30,000. Institutional investors and hedge funds own 68.85% of the company's stock.

Insiders Place Their Bets

In other news, insider David James Fry sold 18,394 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $111.45, for a total value of $2,050,011.30. Following the transaction, the insider owned 17,147 shares in the company, valued at approximately $1,911,033.15. This represents a 51.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David John Thornton sold 2,296 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the transaction, the insider owned 23,163 shares in the company, valued at approximately $2,550,477.93. The trade was a 9.02% 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. In the last quarter, insiders have sold 49,950 shares of company stock worth $5,494,288. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NEM shares. TD increased their price target on Newmont from $116.00 to $129.00 and gave the company a "hold" rating in a research report on Monday, April 27th. Royal Bank Of Canada reduced their price target on Newmont from $160.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, June 3rd. Scotiabank reduced their price target on Newmont from $152.00 to $151.00 and set a "sector outperform" rating on the stock in a research report on Friday, March 20th. BMO Capital Markets increased their price target on Newmont from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Finally, Argus increased their price target on Newmont from $94.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $142.26.

Newmont Price Performance

NEM stock opened at $98.55 on Wednesday. Newmont Corporation has a 1 year low of $52.31 and a 1 year high of $134.88. The firm has a market capitalization of $105.20 billion, a P/E ratio of 12.78, a P/E/G ratio of 1.64 and a beta of 0.42. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The business's 50-day moving average is $111.63 and its two-hundred day moving average is $109.87.

Newmont (NYSE:NEM - Get Free Report) last released its quarterly earnings data 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. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter in the prior year, the business posted $1.25 EPS. The business's revenue for the quarter was up 45.8% on a year-over-year basis. Analysts anticipate that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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 issued a $0.26 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. 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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