Newmont Corporation $NEM Stock Holdings Boosted by Zhang Financial LLC

Key Points

• Zhang Financial LLC increased its Newmont stake by 253.3% in the fourth quarter, bringing its holdings to 15,644 shares valued at about $1.56 million.
• Newmont reported strong quarterly results, posting EPS of $2.90 versus estimates of $2.07 and revenue of $7.31 billion, up 45.8% year over year.
• The company also declared a quarterly dividend of $0.26 per share, while analysts currently hold a Moderate Buy consensus with an average price target of $141.53.

Zhang Financial LLC lifted its position in shares of Newmont Corporation (NYSE:NEM - Free Report) by 253.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 15,644 shares of the basic materials company's stock after acquiring an additional 11,216 shares during the period. Zhang Financial LLC's holdings in Newmont were worth $1,562,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. GoalVest Advisory LLC bought a new position in shares of Newmont during the fourth quarter worth about $25,000. Physician Wealth Advisors Inc. grew its position in shares of Newmont by 327.8% during the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company's stock worth $26,000 after acquiring an additional 236 shares during the last quarter. Cornerstone Planning Group LLC grew its position in shares of Newmont by 312.1% during 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 during the last quarter. JPL Wealth Management LLC bought a new position in shares of Newmont during the third quarter worth about $27,000. Finally, Lodestone Wealth Management LLC bought a new position in shares of Newmont during the fourth quarter worth about $28,000. Institutional investors own 68.85% of the company's stock.

Insider Buying and Selling at Newmont

In other news, insider David James Fry sold 18,394 shares of the firm's stock in a transaction dated 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 completion of the transaction, the insider owned 17,147 shares in the company, valued at approximately $1,911,033.15. This trade represents a 51.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David John Thornton sold 2,296 shares of the firm's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $252,812.56. Following the transaction, the insider owned 23,163 shares of the company's stock, valued at approximately $2,550,477.93. This trade represents a 9.02% decrease in their position. 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. In the last quarter, insiders have sold 43,068 shares of company stock worth $4,769,475. Company insiders own 0.06% of the company's stock.

Newmont Stock Performance

Shares of NEM opened at $109.60 on Friday. The firm has a 50-day moving average price of $110.89 and a 200 day moving average price of $108.96. The firm has a market capitalization of $117.01 billion, a PE ratio of 14.22 and a beta of 0.43. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 52-week low of $51.80 and a 52-week high of $134.88.

Newmont (NYSE:NEM - Get Free Report) last announced its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.07 by $0.83. The firm 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%. Newmont's revenue was up 45.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 EPS. On average, sell-side analysts anticipate that Newmont Corporation will post 9.72 earnings per share for the current fiscal year.

Newmont Announces Dividend

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 given a dividend of $0.26 per share. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. Newmont's dividend payout ratio (DPR) is 13.49%.

Analyst Ratings Changes

Several equities analysts have recently commented on NEM shares. Scotiabank lowered their price target on shares of Newmont from $152.00 to $151.00 and set a "sector outperform" rating for the company in a research report on Friday, March 20th. TD increased their target price on shares of Newmont from $116.00 to $129.00 and gave the company a "hold" rating in a research report on Monday, April 27th. Bank of America increased their target price on shares of Newmont from $134.00 to $151.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. Argus increased their target price on shares of Newmont from $94.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. Finally, BNP Paribas Exane increased their target price on shares of Newmont from $123.00 to $128.00 and gave the company a "neutral" rating in a research report on Monday, March 2nd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $141.53.

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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