Winmill & CO. Inc. Sells 71,000 Shares of Newmont Corporation $NEM

Key Points

• Winmill & CO. Inc. cut its Newmont stake by 79.8% in the fourth quarter, selling 71,000 shares and leaving it with 18,000 shares valued at about $1.8 million.
• Newmont posted strong quarterly results, with EPS of $2.90 beating estimates and revenue of $7.31 billion topping forecasts; revenue also rose 45.8% from a year earlier.
• The company declared a quarterly dividend of $0.26 per share, while analysts currently rate the stock a consensus “Moderate Buy” with a target price of $142.26.

Winmill & CO. Inc. lessened its holdings in shares of Newmont Corporation (NYSE:NEM - Free Report) by 79.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,000 shares of the basic materials company's stock after selling 71,000 shares during the quarter. Winmill & CO. Inc.'s holdings in Newmont were worth $1,797,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. GoalVest Advisory LLC bought a new position in Newmont in the fourth quarter worth about $25,000. Swiss RE Ltd. bought a new stake in Newmont during the 4th quarter valued at approximately $26,000. Cornerstone Planning Group LLC grew its holdings in shares of Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company's stock worth $27,000 after acquiring an additional 206 shares during the period. JPL Wealth Management LLC bought a new position in shares of Newmont in the 3rd quarter worth approximately $27,000. Finally, Lodestone Wealth Management LLC bought a new position in shares of Newmont in the 4th quarter worth approximately $28,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Newmont Stock Down 0.1%

NEM stock opened at $100.10 on Monday. The business has a 50 day moving average of $110.94 and a 200 day moving average of $110.14. The firm has a market cap of $106.86 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 1.66 and a beta of 0.42. Newmont Corporation has a twelve month low of $55.37 and a twelve month high of $134.88. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM - Get Free Report) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.07 by $0.83. The business had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company's revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.25 earnings per share. On average, research analysts forecast that Newmont Corporation will post 9.91 EPS 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 $0.26 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 1.0%. Newmont's payout ratio is 13.49%.

Insider Activity

In other news, EVP Peter Wexler sold 13,378 shares of the stock in a transaction that occurred 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 sale, the executive vice president owned 67,865 shares in the company, valued at $7,472,615.15. This represents a 16.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $315,960.00. Following the completion of the transaction, the executive vice president owned 46,315 shares of the company's stock, valued at approximately $4,877,895.80. The trade was a 6.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 31,556 shares of company stock worth $3,444,276. Corporate insiders own 0.06% of the company's stock.

Analyst Ratings Changes

NEM has been the topic of several research reports. The Goldman Sachs Group dropped their price target on Newmont from $125.10 to $122.50 and set a "buy" rating on the stock in a research report on Thursday, June 4th. TD increased their price objective on Newmont from $116.00 to $129.00 and gave the stock a "hold" rating in a report on Monday, April 27th. Barclays initiated coverage on Newmont in a research report on Thursday, May 21st. They set an "overweight" rating and a $133.00 price objective for the company. Citigroup boosted their target price on shares of Newmont from $118.00 to $150.00 and gave the company a "buy" rating in a report on Tuesday, March 3rd. Finally, Wall Street Zen downgraded shares of Newmont from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 30th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $142.26.

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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