Newmont Corporation $NEM Shares Sold by Wilkins Investment Counsel Inc.

Key Points

• Wilkins Investment Counsel reduced its stake in Newmont by 16.3% in Q4, selling 88,685 shares and retaining 456,955 shares worth about $45.63 million, with Newmont still representing roughly 6.7% of Wilkins' holdings as its largest position.
• Newmont beat expectations for the quarter with EPS of $2.90 vs. $2.07 consensus and revenue of $7.31 billion (up 45.8% YoY), and announced a quarterly dividend of $0.26 per share ($1.04 annualized, ~1.0% yield) payable June 22.
• Company insiders have sold a total of 24,394 shares worth $2.71 million in the past 90 days, including David James Fry (18,394 shares) and EVP Peter Toth (3,000 shares), leaving insiders with about 0.06% ownership.

Wilkins Investment Counsel Inc. reduced its stake in Newmont Corporation (NYSE:NEM - Free Report) by 16.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 456,955 shares of the basic materials company's stock after selling 88,685 shares during the period. Newmont accounts for approximately 6.7% of Wilkins Investment Counsel Inc.'s holdings, making the stock its biggest position. Wilkins Investment Counsel Inc.'s holdings in Newmont were worth $45,627,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Newmont by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company's stock worth $13,390,613,000 after acquiring an additional 637,996 shares during the period. Legal & General Group Plc lifted its stake in shares of Newmont by 9.6% in the 3rd quarter. Legal & General Group Plc now owns 8,156,669 shares of the basic materials company's stock worth $687,223,000 after acquiring an additional 711,940 shares during the period. Boston Partners lifted its stake in shares of Newmont by 49.3% in the 3rd quarter. Boston Partners now owns 6,931,710 shares of the basic materials company's stock worth $585,828,000 after acquiring an additional 2,288,653 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in shares of Newmont by 16.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,996,775 shares of the basic materials company's stock worth $498,928,000 after acquiring an additional 692,560 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Newmont by 33.8% in the 3rd quarter. Victory Capital Management Inc. now owns 4,925,237 shares of the basic materials company's stock worth $414,270,000 after acquiring an additional 1,244,845 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider David James Fry sold 18,394 shares of the business's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the sale, the insider owned 17,147 shares in the company, valued at $1,911,033.15. The trade was a 51.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $113.09, for a total transaction of $339,270.00. Following the sale, the executive vice president owned 52,315 shares in the company, valued at $5,916,303.35. This represents a 5.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,394 shares of company stock worth $2,713,281 in the last 90 days. 0.06% of the stock is owned by company insiders.

Newmont Stock Down 2.3%

NEM stock opened at $108.58 on Friday. Newmont Corporation has a 12 month low of $48.27 and a 12 month high of $134.88. The firm has a market cap of $115.91 billion, a PE ratio of 14.08, a P/E/G ratio of 1.98 and a beta of 0.43. The firm has a 50 day simple moving average of $113.57 and a 200 day simple moving average of $105.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $6.83 billion. During the same period in the prior year, the business earned $1.25 earnings per share. The business's quarterly revenue was up 45.8% on a year-over-year basis. Equities research analysts forecast that Newmont Corporation will post 9.47 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders 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 1.0%. Newmont's payout ratio is currently 13.49%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NEM. TD Cowen reaffirmed a "buy" rating on shares of Newmont in a research note on Monday, April 27th. Stifel Nicolaus upped their price target on shares of Newmont from $120.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, February 10th. Sanford C. Bernstein raised shares of Newmont from a "market perform" rating to an "outperform" rating and increased their target price for the company from $121.00 to $157.00 in a research note on Friday, February 27th. Raymond James Financial increased their target price on shares of Newmont from $111.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, January 15th. Finally, Jefferies Financial Group increased their target price on shares of Newmont from $162.00 to $165.00 and gave the company a "buy" rating in a research note on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $142.51.

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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