Newmont Corporation $NEM Stock Position Decreased by 4D Advisors LLC

4D Advisors LLC cut its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 33.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,000 shares of the basic materials company's stock after selling 25,000 shares during the quarter. Newmont accounts for 2.7% of 4D Advisors LLC's portfolio, making the stock its 13th largest holding. 4D Advisors LLC's holdings in Newmont were worth $4,992,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of Newmont in the fourth quarter valued at about $1,443,128,000. Van ECK Associates Corp grew its position in Newmont by 23.4% during the fourth quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company's stock worth $2,973,539,000 after buying an additional 5,643,496 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Newmont by 110.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,743,228 shares of the basic materials company's stock worth $873,011,000 after buying an additional 4,588,018 shares in the last quarter. AQR Capital Management LLC grew its position in Newmont by 82.5% during the fourth quarter. AQR Capital Management LLC now owns 7,402,278 shares of the basic materials company's stock worth $739,117,000 after buying an additional 3,345,543 shares in the last quarter. Finally, Assetmark Inc. grew its position in Newmont by 398.3% during the fourth quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company's stock worth $286,619,000 after buying an additional 2,294,396 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Stock Performance

NEM stock opened at $105.55 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The company has a 50 day moving average price of $110.52 and a 200 day moving average price of $110.51. Newmont Corporation has a fifty-two week low of $55.37 and a fifty-two week high of $134.88. The stock has a market capitalization of $112.68 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 1.80 and a beta of 0.42.

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 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 company had revenue of $7.31 billion during the quarter, compared to analysts' expectations of $6.83 billion. During the same quarter in the previous year, the company posted $1.25 EPS. The business's revenue for the quarter was up 45.8% compared to the same quarter last year. Analysts forecast that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. Newmont's dividend payout ratio is presently 13.49%.

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Zacks upgraded Newmont from hold to strong-buy, reinforcing a more optimistic view on the stock’s near-term prospects.
• Positive Sentiment: Wall Street’s average price target implies about 30% upside, with analysts also pointing to rising earnings estimates as a supportive signal for the shares. Article: Does Newmont (NEM) Have the Potential to Rally 30.14% as Wall Street Analysts Expect?
• Positive Sentiment: Newmont announced a leadership reshuffle, naming new CFO, COO, and CTO appointments effective July 1, which investors may see as a move to sharpen execution under CEO Natascha Viljoen.
• Positive Sentiment: Several recent articles highlight Newmont as a value or buy idea and note that the company remains well positioned if gold prices rebound, which is supportive for a gold miner.
• Neutral Sentiment: Other coverage focused on comparison pieces and broad investor interest, but these are less likely to move the stock on their own.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. BNP Paribas Exane lifted their target price on Newmont from $123.00 to $128.00 and gave the stock a "neutral" rating in a research report on Monday, March 2nd. Bank of America lifted their price objective on Newmont from $134.00 to $151.00 and gave the company a "buy" rating in a report on Thursday, February 26th. Scotiabank decreased their price objective on Newmont from $152.00 to $151.00 and set a "sector outperform" rating on the stock in a report on Friday, March 20th. TD Securities reaffirmed a "hold" rating and set a $129.00 price objective on shares of Newmont in a report on Monday, April 27th. Finally, Argus lifted their price objective on Newmont from $94.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $141.79.

Insider Activity at Newmont

In other Newmont news, EVP Peter Wexler sold 13,378 shares of the business'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 $1,473,051.58. Following the sale, the executive vice president directly owned 67,865 shares of the company's stock, valued at $7,472,615.15. The trade was a 16.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 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. Also, CEO Natascha Viljoen sold 3,882 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the sale, the chief executive officer directly owned 142,999 shares in the company, valued at $15,060,654.68. This trade represents a 2.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,556 shares of company stock valued at $3,120,276 in the last quarter. 0.06% of the stock is currently owned by company insiders.

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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