Stephens Inc. AR Grows Stock Holdings in Newmont Corporation $NEM

Key Points

• Stephens Inc. AR increased its Newmont stake by 6.1% in the first quarter, buying 18,674 more shares and bringing its total holding to 324,376 shares valued at about $35.1 million.
• Institutional ownership remains high in Newmont, with hedge funds and other institutional investors owning 68.85% of the company’s stock, while several other firms also raised their positions.
• Newmont reported strong quarterly results, posting EPS of $2.90 and revenue of $7.31 billion, both ahead of estimates, and it also paid a quarterly dividend of $0.26 per share.

Stephens Inc. AR lifted its stake in shares of Newmont Corporation (NYSE:NEM - Free Report) by 6.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 324,376 shares of the basic materials company's stock after acquiring an additional 18,674 shares during the quarter. Stephens Inc. AR's holdings in Newmont were worth $35,114,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. CWM LLC increased its holdings in shares of Newmont by 64.6% in the 4th quarter. CWM LLC now owns 202,892 shares of the basic materials company's stock valued at $20,259,000 after acquiring an additional 79,617 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Newmont by 24.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company's stock worth $30,775,000 after purchasing an additional 54,530 shares during the last quarter. Leonteq Securities AG purchased a new stake in shares of Newmont during the 4th quarter worth $9,018,000. ARS Investment Partners LLC boosted its position in Newmont by 3.6% during the fourth quarter. ARS Investment Partners LLC now owns 697,063 shares of the basic materials company's stock valued at $69,602,000 after purchasing an additional 23,900 shares in the last quarter. Finally, Ritholtz Wealth Management grew its stake in Newmont by 67.0% in the fourth quarter. Ritholtz Wealth Management now owns 40,754 shares of the basic materials company's stock valued at $4,069,000 after purchasing an additional 16,352 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company's stock.

Insider Activity at Newmont

In related news, EVP Peter Wexler sold 13,378 shares of the company's 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 directly owned 67,865 shares of the company's stock, valued at $7,472,615.15. This represents a 16.47% decrease in their position. The transaction was disclosed in a legal 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $315,960.00. Following the sale, the executive vice president directly owned 46,315 shares of the company's stock, valued at approximately $4,877,895.80. This represents a 6.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 25,556 shares of company stock worth $2,781,006. Corporate insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wall Street Zen downgraded shares of Newmont from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 30th. UBS Group cut their price objective on shares of Newmont from $140.00 to $120.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Raymond James Financial reduced their price objective on shares of Newmont from $139.00 to $137.00 and set an "outperform" rating for the company in a research note on Tuesday, June 30th. TD raised their target price on shares of Newmont from $116.00 to $129.00 and gave the company a "hold" rating in a research note on Monday, April 27th. Finally, Weiss Ratings lowered shares of Newmont from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, June 17th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $139.35.

Newmont Price Performance

Shares of NYSE NEM opened at $96.95 on Monday. Newmont Corporation has a fifty-two week low of $55.37 and a fifty-two week high of $134.88. The company has a market cap of $103.50 billion, a PE ratio of 12.57, a P/E/G ratio of 1.61 and a beta of 0.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The business has a 50-day simple moving average of $106.12 and a two-hundred day simple moving average of $110.86.

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 (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.83. The firm had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company's revenue for the quarter was up 45.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.25 earnings per share. As a group, equities analysts expect that Newmont Corporation will post 9.87 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th were paid a dividend of $0.26 per share. The ex-dividend date was Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. Newmont's dividend payout ratio is presently 13.49%.

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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