Thrivent Financial for Lutherans Grows Stock Position in Newmont Corporation $NEM

Key Points

• Thrivent Financial for Lutherans boosted its Newmont stake by 37.7% in the fourth quarter, ending with 214,282 shares worth about $21.44 million.
• Newmont reported strong Q1 results, with earnings of $2.90 per share and revenue of $7.31 billion, both above analyst expectations.
• The company also announced a quarterly dividend of $0.26 per share payable June 22, while analysts remain generally positive with a Moderate Buy consensus and an average price target of $142.51.

Thrivent Financial for Lutherans increased its stake in Newmont Corporation (NYSE:NEM - Free Report) by 37.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 214,282 shares of the basic materials company's stock after purchasing an additional 58,690 shares during the period. Thrivent Financial for Lutherans' holdings in Newmont were worth $21,440,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Apella Capital LLC lifted its position in shares of Newmont by 4.1% during the 4th quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company's stock valued at $219,000 after buying an additional 86 shares in the last quarter. New Wave Wealth Advisors LLC boosted its stake in Newmont by 1.3% during the fourth quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company's stock worth $684,000 after buying an additional 88 shares during the period. Novem Group boosted its stake in Newmont by 3.7% during the fourth quarter. Novem Group now owns 2,487 shares of the basic materials company's stock worth $248,000 after buying an additional 88 shares during the period. Norden Group LLC increased its holdings in Newmont by 0.7% in the 4th quarter. Norden Group LLC now owns 12,367 shares of the basic materials company's stock valued at $1,235,000 after purchasing an additional 90 shares during the last quarter. Finally, Coston McIsaac & Partners increased its holdings in Newmont by 28.6% in the 4th quarter. Coston McIsaac & Partners now owns 450 shares of the basic materials company's stock valued at $44,000 after purchasing an additional 100 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Peter Wexler sold 13,378 shares of the company's stock in a transaction on 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 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 document filed with the SEC, which is available through 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, insider David John Thornton sold 2,296 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 transaction of $252,812.56. Following the transaction, the insider directly owned 23,163 shares in the company, valued at approximately $2,550,477.93. This trade represents a 9.02% 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. 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 in the last three months. 0.06% of the stock is currently owned by company insiders.

Newmont Stock Down 0.1%

Shares of NYSE:NEM opened at $108.93 on Monday. The stock has a market cap of $116.29 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.52 and a beta of 0.43. The firm has a fifty day moving average price of $111.96 and a 200 day moving average price of $107.24. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. Newmont Corporation has a 1-year low of $48.61 and a 1-year high of $134.88.

Newmont (NYSE:NEM - Get Free Report) last issued its quarterly 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 net margin of 33.87% and a return on equity of 27.84%. The firm had revenue of $7.31 billion during the quarter, compared to analysts' expectations of $6.83 billion. During the same quarter in the prior year, the business earned $1.25 EPS. Newmont's quarterly revenue was up 45.8% compared to the same quarter last year. Sell-side analysts predict that Newmont Corporation will post 9.72 EPS for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be given a $0.26 dividend. The ex-dividend date 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 (DPR) is presently 13.49%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. The Goldman Sachs Group increased their price target on shares of Newmont from $123.20 to $125.10 and gave the stock a "buy" rating in a research report on Tuesday, April 28th. TD upped their target price on shares of Newmont from $116.00 to $129.00 and gave the stock a "hold" rating in a research note on Monday, April 27th. BMO Capital Markets upped their target price on shares of Newmont from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Friday, April 24th. Sanford C. Bernstein upgraded shares of Newmont from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $121.00 to $157.00 in a report on Friday, February 27th. Finally, Stifel Nicolaus increased their price target on shares of Newmont from $120.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $142.51.

About Newmont

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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