WINTON GROUP Ltd Decreases Stake in Newmont Corporation $NEM

Key Points

• WINTON GROUP Ltd slashed its Newmont position by 93.3% in the fourth quarter, leaving it with 5,427 shares worth about $542,000.
• Newmont reported strong quarterly results, with EPS of $2.90 beating estimates and revenue of $7.31 billion topping forecasts; revenue rose 45.8% year over year.
• The company also announced a quarterly dividend of $0.26 per share payable on June 22, while analysts maintain a Moderate Buy consensus with a target price of $142.26.

WINTON GROUP Ltd reduced its position in Newmont Corporation (NYSE:NEM - Free Report) by 93.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,427 shares of the basic materials company's stock after selling 75,895 shares during the period. WINTON GROUP Ltd's holdings in Newmont were worth $542,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NEM. GoalVest Advisory LLC purchased a new position in Newmont in the 4th quarter valued at about $25,000. Cornerstone Planning Group LLC lifted its position in shares of Newmont by 312.1% during 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. JPL Wealth Management LLC bought a new position in shares of Newmont during the third quarter worth about $27,000. Lodestone Wealth Management LLC bought a new position in shares of Newmont during the fourth quarter worth about $28,000. Finally, Laurel Wealth Advisors LLC bought a new position in shares of Newmont during the fourth quarter worth about $30,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider David James Fry sold 18,394 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the sale, the insider owned 17,147 shares in the company, valued at $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $315,960.00. Following the sale, the executive vice president owned 46,315 shares in the company, valued at approximately $4,877,895.80. This trade represents a 6.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 49,950 shares of company stock valued at $5,494,288 over the last quarter. Corporate insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Argus increased their price target on shares of Newmont from $94.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Macquarie Infrastructure increased their price target on shares of Newmont from $130.00 to $133.00 and gave the stock an "outperform" rating in a research report on Monday, April 27th. Jefferies Financial Group increased their price target on shares of Newmont from $154.00 to $158.00 and gave the stock a "buy" rating in a research report on Monday. Sanford C. Bernstein raised shares of Newmont from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $121.00 to $157.00 in a research report on Friday, February 27th. Finally, UBS Group reduced their price target on shares of Newmont from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $142.26.

Newmont Price Performance

NEM opened at $92.76 on Thursday. The firm has a market cap of $99.02 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 1.63 and a beta of 0.42. Newmont Corporation has a fifty-two week low of $52.42 and a fifty-two week high of $134.88. The company's 50-day moving average price is $111.42 and its 200 day moving average price is $109.95. 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 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 analyst estimates of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. Newmont's quarterly revenue was up 45.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 earnings per share. As a group, sell-side analysts expect that Newmont Corporation will post 9.91 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be paid 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 1.1%. Newmont's dividend payout ratio is 13.49%.

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.

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.