Newmont Corporation $NEM Shares Sold by Savant Capital LLC

Key Points

• Savant Capital LLC cut its Newmont stake by 23.5% in the fourth quarter, selling 10,699 shares and ending with 34,778 shares worth about $3.47 million.
• Newmont beat earnings expectations in its latest quarter, reporting $2.90 EPS versus $2.07 expected and revenue of $7.31 billion, up 45.8% year over year.
• Analyst sentiment remains positive overall, with Newmont carrying a Moderate Buy rating and an average price target of $141.53; the company also announced a quarterly dividend of $0.26 per share.

Savant Capital LLC decreased its position in Newmont Corporation (NYSE:NEM - Free Report) by 23.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,778 shares of the basic materials company's stock after selling 10,699 shares during the quarter. Savant Capital LLC's holdings in Newmont were worth $3,473,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. GoalVest Advisory LLC acquired a new stake in shares of Newmont during the fourth quarter worth approximately $25,000. Cornerstone Planning Group LLC boosted its holdings in 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 purchasing an additional 206 shares during the period. Lodestone Wealth Management LLC bought a new stake in Newmont in the fourth quarter valued at $28,000. Laurel Wealth Advisors LLC bought a new stake in Newmont in the fourth quarter valued at $30,000. Finally, Rosenberg Matthew Hamilton raised its stake in shares of 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 purchasing an additional 231 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NEM. National Bank Financial lifted their price objective on shares of Newmont from $130.00 to $140.00 and gave the company a "sector perform" rating in a research note on Friday, April 24th. Stifel Nicolaus lifted their price target on Newmont from $120.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday, February 10th. Jefferies Financial Group reduced their target price on Newmont from $165.00 to $154.00 and set a "buy" rating for the company in a report on Wednesday. Canaccord Genuity Group upped their price target on Newmont from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Finally, Sanford C. Bernstein upgraded Newmont from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $121.00 to $157.00 in a research report on Friday, February 27th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Newmont presently has an average rating of "Moderate Buy" and an average target price of $141.53.

Newmont Trading Up 1.3%

Shares of NEM opened at $109.60 on Friday. Newmont Corporation has a 12-month low of $51.80 and a 12-month high of $134.88. The stock's fifty day simple moving average is $110.89 and its 200-day simple moving average is $108.96. 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 firm has a market capitalization of $117.01 billion, a PE ratio of 14.22 and a beta of 0.43.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. The company's quarterly revenue was up 45.8% on a year-over-year basis. As a group, research analysts predict that Newmont Corporation will post 9.72 earnings per share for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be issued a dividend of $0.26 per share. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. Newmont's dividend payout ratio (DPR) is presently 13.49%.

Insider Transactions at Newmont

In other Newmont news, insider David James Fry sold 18,394 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 17,147 shares in the company, valued at $1,911,033.15. This trade represents a 51.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter Wexler sold 13,378 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $1,473,051.58. Following the completion of the sale, the executive vice president directly owned 67,865 shares of the company's stock, valued at approximately $7,472,615.15. The trade was a 16.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold a total of 43,068 shares of company stock valued at $4,769,475 in the last ninety days. Corporate insiders own 0.06% of the company's stock.

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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