Rathbones Group PLC Has $11.36 Million Holdings in Newmont Corporation $NEM

Key Points

• Rathbones Group PLC increased its Newmont stake by 27.8% in the fourth quarter, ending with 113,801 shares valued at about $11.36 million.
• Newmont reported strong quarterly results, posting $2.90 EPS versus estimates of $2.07 and $7.31 billion in revenue, both ahead of expectations. Revenue rose 45.8% year over year.
• The company announced a quarterly dividend of $0.26 per share, payable June 22, and analysts remain constructive overall with a Moderate Buy consensus and a target price of $142.05.

Rathbones Group PLC increased its stake in Newmont Corporation (NYSE:NEM - Free Report) by 27.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 113,801 shares of the basic materials company's stock after buying an additional 24,722 shares during the quarter. Rathbones Group PLC's holdings in Newmont were worth $11,363,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. GoalVest Advisory LLC acquired a new stake in shares of Newmont in the 4th quarter valued at approximately $25,000. Cornerstone Planning Group LLC boosted its holdings in shares of Newmont by 312.1% in the 4th 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 during the last quarter. Lodestone Wealth Management LLC acquired a new stake in shares of Newmont in the 4th quarter valued at approximately $28,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Newmont in the 4th quarter valued at approximately $30,000. Finally, Rosenberg Matthew Hamilton lifted its holdings in Newmont by 308.0% during the 4th 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 during the last quarter. Institutional investors and hedge funds own 68.85% of the company's stock.

Newmont Stock Up 1.0%

NEM stock opened at $108.43 on Friday. 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 stock has a market capitalization of $115.75 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.53 and a beta of 0.43. The business's fifty day moving average price is $111.20 and its two-hundred day moving average price is $108.01. Newmont Corporation has a fifty-two week low of $51.80 and a fifty-two week high of $134.88.

Newmont (NYSE:NEM - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.83. The firm had revenue of $7.31 billion for the quarter, compared to analysts' expectations of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company's quarterly revenue was up 45.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.25 EPS. On average, equities analysts anticipate that Newmont Corporation will post 9.47 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. Shareholders 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 yield of 1.0%. Newmont's dividend payout ratio (DPR) is presently 13.49%.

Insider Transactions at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $330,330.00. Following the transaction, the executive vice president owned 49,315 shares in the company, valued at $5,430,074.65. This trade represents a 5.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $1,473,051.58. Following the transaction, the executive vice president owned 67,865 shares in the company, valued at $7,472,615.15. The trade was a 16.47% 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. Insiders have sold 43,068 shares of company stock worth $4,769,475 over the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. National Bank Financial raised their price target on Newmont from $130.00 to $140.00 and gave the company a "sector perform" rating in a report on Friday, April 24th. Citigroup raised their price target on Newmont from $118.00 to $150.00 and gave the company a "buy" rating in a report on Tuesday, March 3rd. Barclays assumed coverage on Newmont in a report on Thursday. They set an "overweight" rating and a $133.00 price target for the company. BNP Paribas Exane raised their price target on Newmont from $123.00 to $128.00 and gave the company a "neutral" rating in a report on Monday, March 2nd. Finally, Sanford C. Bernstein raised Newmont from a "market perform" rating to an "outperform" rating and raised their price target for the company from $121.00 to $157.00 in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $142.05.

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.

Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Corporation (NYSE:NEM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.