Cauble & Harre Wealth Management Inc. Acquires New Shares in Newmont Corporation $NEM

Cauble & Harre Wealth Management Inc. bought a new stake in Newmont Corporation (NYSE:NEM) in the 4th quarter, Holdings Channel.com reports. The fund bought 5,574 shares of the basic materials company’s stock, valued at approximately $557,000.

Several other large investors have also recently bought and sold shares of NEM. GoalVest Advisory LLC bought a new stake in Newmont in the fourth quarter valued at approximately $25,000. Physician Wealth Advisors Inc. increased its stake in Newmont by 327.8% in the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 236 shares in the last quarter. Cornerstone Planning Group LLC increased its stake in Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 206 shares in the last quarter. JPL Wealth Management LLC bought a new stake in Newmont in the third quarter valued at approximately $27,000. Finally, Lodestone Wealth Management LLC bought a new stake in Newmont in the fourth quarter valued at approximately $28,000. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 6.4%

NYSE:NEM opened at $108.93 on Friday. 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 cap of $116.29 billion, a PE ratio of 14.13, a PEG ratio of 1.62 and a beta of 0.43. Newmont Corporation has a 52-week low of $48.61 and a 52-week high of $134.88. The stock has a 50-day simple moving average of $111.96 and a 200 day simple moving average of $107.04.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. The business had revenue of $7.31 billion during 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%.Newmont’s quarterly revenue was up 45.8% on a year-over-year basis. During the same period last year, the company earned $1.25 earnings per share. On average, sell-side analysts expect that Newmont Corporation will post 9.72 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced 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 of this dividend 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 13.49%.

Analysts Set New Price Targets

NEM has been the subject of several recent analyst reports. Argus increased their price target on Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Canaccord Genuity Group increased their price target on Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Jefferies Financial Group increased their price target on Newmont from $162.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, April 10th. TD Cowen restated a “buy” rating on shares of Newmont in a report on Monday, April 27th. Finally, Royal Bank Of Canada increased their price objective on shares of Newmont from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $142.51.

Insider Buying and Selling at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $330,330.00. Following the completion of the transaction, the executive vice president owned 49,315 shares of the company’s stock, valued at approximately $5,430,074.65. This trade represents a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David James Fry sold 18,394 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider directly owned 17,147 shares of the company’s stock, valued at approximately $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 sold a total of 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 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.