Newmont Corporation $NEM Shares Sold by Knights of Columbus Asset Advisors LLC

Key Points

• Knights of Columbus Asset Advisors cut its Newmont stake by 40.1% in the fourth quarter, leaving it with 36,229 shares valued at about $3.6 million.
• Several Newmont insiders sold shares recently, including EVP Peter Toth and insider David John Thornton, both at $110.11 per share under pre-arranged trading plans.
• Newmont beat quarterly expectations with EPS of $2.90 versus $2.07 expected and revenue of $7.31 billion, while analysts currently rate the stock a “Moderate Buy” with an average price target of $141.53.

Knights of Columbus Asset Advisors LLC trimmed its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 40.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,229 shares of the basic materials company's stock after selling 24,270 shares during the period. Knights of Columbus Asset Advisors LLC's holdings in Newmont were worth $3,617,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GoalVest Advisory LLC acquired a new position in Newmont during the fourth quarter valued at approximately $25,000. Cornerstone Planning Group LLC lifted its position in Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock valued at $27,000 after buying an additional 206 shares in the last quarter. Lodestone Wealth Management LLC acquired a new position in Newmont during the fourth quarter valued at approximately $28,000. Laurel Wealth Advisors LLC acquired a new position in Newmont during the fourth quarter valued at approximately $30,000. Finally, Rosenberg Matthew Hamilton lifted its position in Newmont by 308.0% during the fourth quarter. Rosenberg Matthew Hamilton now owns 306 shares of the basic materials company's stock valued at $31,000 after buying an additional 231 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 completion of the transaction, the insider directly owned 23,163 shares of the company's stock, valued at approximately $2,550,477.93. This represents 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 three months, insiders sold 43,068 shares of company stock worth $4,769,475. Company insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on NEM. TD Securities reaffirmed a "hold" rating and set a $129.00 price target on shares of Newmont in a research report on Monday, April 27th. Stifel Nicolaus lifted their price objective on shares of Newmont from $120.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, February 10th. TD lifted their price objective 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. Sanford C. Bernstein upgraded shares of Newmont from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $121.00 to $157.00 in a research note on Friday, February 27th. Finally, Royal Bank Of Canada lifted their price objective on shares of Newmont from $120.00 to $125.00 and gave the company an "outperform" rating in a research note on Tuesday, February 3rd. Two 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 stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $141.53.

Newmont Stock Down 4.0%

Shares of NYSE:NEM opened at $107.17 on Thursday. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $110.88 and a 200 day simple moving average of $108.78. The firm has a market cap of $114.41 billion, a PE ratio of 13.90 and a beta of 0.43. Newmont Corporation has a 12-month low of $51.80 and a 12-month high of $134.88.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.07 by $0.83. The business 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%. The business's revenue was up 45.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 earnings per share. On average, 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. Shareholders of record on Wednesday, May 27th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont's payout ratio is currently 13.49%.

About Newmont

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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