Newmont Corporation $NEM Shares Sold by Alps Advisors Inc.

Key Points

• Alps Advisors Inc. reduced its Newmont stake by 41.4% in the fourth quarter, selling 397,967 shares and leaving it with 563,546 shares valued at about $56.3 million.
• Despite the trim, institutional ownership remains high, with 68.85% of Newmont shares held by institutions and hedge funds.
• Analysts remain broadly positive on Newmont, with a Moderate Buy consensus and a price target of $142.26, while the company also reported stronger-than-expected quarterly earnings and announced a $0.26 per-share dividend.

Alps Advisors Inc. cut its holdings in Newmont Corporation (NYSE:NEM - Free Report) by 41.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 563,546 shares of the basic materials company's stock after selling 397,967 shares during the quarter. Newmont makes up approximately 0.3% of Alps Advisors Inc.'s portfolio, making the stock its 27th largest holding. Alps Advisors Inc. owned 0.05% of Newmont worth $56,270,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of NEM. GoalVest Advisory LLC acquired a new stake in shares of Newmont in the fourth quarter valued at approximately $25,000. Cornerstone Planning Group LLC grew its position 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 valued at $27,000 after purchasing an additional 206 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Newmont in the third quarter valued at approximately $27,000. Lodestone Wealth Management LLC acquired a new stake in shares of Newmont in the fourth quarter valued at approximately $28,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of Newmont in the fourth quarter valued at approximately $30,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NEM. The Goldman Sachs Group lowered their price target on shares of Newmont from $125.10 to $122.50 and set a "buy" rating on the stock in a research report on Thursday, June 4th. Weiss Ratings downgraded shares of Newmont from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, May 27th. UBS Group reduced their price objective on shares of Newmont from $150.00 to $140.00 and set a "buy" rating on the stock in a research note on Friday, March 27th. BMO Capital Markets upped their price objective on shares of Newmont from $140.00 to $145.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. Finally, Argus upped their price objective 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. Two analysts have 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.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.26.

Insiders Place Their Bets

In other news, insider David James Fry sold 18,394 shares of the firm's stock in a transaction on Monday, March 16th. The shares were 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 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 legal filing with the SEC, which is available at this link. Also, CEO Natascha Viljoen sold 3,882 shares of the firm's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $408,852.24. Following the completion of the transaction, the chief executive officer directly owned 142,999 shares in the company, valued at approximately $15,060,654.68. This represents a 2.64% 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. In the last 90 days, insiders have sold 49,950 shares of company stock worth $5,494,288. 0.06% of the stock is owned by company insiders.

Newmont Stock Performance

NYSE:NEM opened at $97.52 on Friday. 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 has a market cap of $104.11 billion, a P/E ratio of 12.65, a P/E/G ratio of 1.54 and a beta of 0.42. Newmont Corporation has a fifty-two week low of $54.14 and a fifty-two week high of $134.88. The firm's 50 day moving average is $111.21 and its two-hundred day moving average is $110.05.

Newmont (NYSE:NEM - Get Free Report) last issued its 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. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The business had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter last year, the firm posted $1.25 EPS. The business's revenue for the quarter was up 45.8% compared to the same quarter last year. Analysts expect that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Announces Dividend

The firm also recently announced 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. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont's dividend payout ratio (DPR) is currently 13.49%.

Newmont 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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