Stephens Inc. AR Purchases 78,373 Shares of Newmont Corporation $NEM

Key Points

• Stephens Inc. AR boosted its stake in Newmont by 34.5% in the fourth quarter, adding 78,373 shares to reach 305,702 shares valued at about $30.5 million.
• Newmont posted strong quarterly results, with EPS of $2.90 beating estimates by $0.83 and revenue rising 45.8% year over year to $7.31 billion.
• The company announced a quarterly dividend of $0.26 per share, payable June 22, while analysts currently rate the stock a consensus “Moderate Buy” with an average price target of $142.51.

Stephens Inc. AR lifted its position in Newmont Corporation (NYSE:NEM - Free Report) by 34.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 305,702 shares of the basic materials company's stock after purchasing an additional 78,373 shares during the period. Stephens Inc. AR's holdings in Newmont were worth $30,524,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. GoalVest Advisory LLC bought a new position in shares of Newmont in the fourth quarter worth approximately $25,000. Cornerstone Planning Group LLC grew its holdings in shares of Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock worth $27,000 after purchasing an additional 206 shares during the last quarter. Lodestone Wealth Management LLC bought a new position in shares of Newmont in the fourth quarter worth approximately $28,000. Laurel Wealth Advisors LLC purchased a new position in Newmont during the 4th quarter valued at about $30,000. Finally, Rosenberg Matthew Hamilton raised its position 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 own 68.85% of the company's stock.

Insider Transactions at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company's stock in a transaction that occurred 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 approximately $5,430,074.65. This represents a 5.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David James Fry sold 18,394 shares of the company's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $111.45, for a total value of $2,050,011.30. Following the transaction, the insider owned 17,147 shares in the company, valued at $1,911,033.15. This trade represents a 51.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 43,068 shares of company stock worth $4,769,475 over the last quarter. Insiders own 0.06% of the company's stock.

Newmont Stock Down 6.4%

NEM stock opened at $108.93 on Friday. Newmont Corporation has a fifty-two week low of $48.61 and a fifty-two week high of $134.88. The business's 50 day moving average price is $111.96 and its two-hundred day moving average price is $107.04. 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 company has a market capitalization of $116.29 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 1.62 and a beta of 0.43.

Newmont (NYSE:NEM - Get Free Report) last posted its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping analysts' consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter in the prior year, the business earned $1.25 EPS. The business's revenue for the quarter was up 45.8% on a year-over-year basis. As a group, analysts forecast that Newmont Corporation will post 9.72 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders 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 dividend payout ratio is 13.49%.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of recent analyst reports. UBS Group lowered their price target on Newmont from $150.00 to $140.00 and set a "buy" rating for the company in a research report on Friday, March 27th. TD Cowen reaffirmed a "buy" rating on shares of Newmont in a research report on Monday, April 27th. BMO Capital Markets upped their price target on Newmont from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. TD upped their price target on Newmont from $116.00 to $129.00 and gave the company a "hold" rating in a research report on Monday, April 27th. Finally, Zacks Research lowered Newmont from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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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