Newmont Corporation $NEM Shares Bought by Ieq Capital LLC

Ieq Capital LLC raised its holdings in Newmont Corporation (NYSE:NEM) by 82.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 466,909 shares of the basic materials company’s stock after purchasing an additional 211,345 shares during the quarter. Ieq Capital LLC’s holdings in Newmont were worth $46,621,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GoalVest Advisory LLC purchased a new stake in shares of Newmont in the fourth quarter valued at about $25,000. Swiss RE Ltd. purchased a new stake in shares of Newmont in the fourth quarter valued at about $26,000. Cornerstone Planning Group LLC boosted 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 valued at $27,000 after acquiring an additional 206 shares in the last quarter. Lodestone Wealth Management LLC purchased a new stake in shares of Newmont in the fourth quarter valued at about $28,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of Newmont in the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NEM opened at $100.10 on Friday. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The stock has a market cap of $106.86 billion, a P/E ratio of 12.98, a PEG ratio of 1.62 and a beta of 0.42. The company has a 50-day moving average of $110.94 and a two-hundred day moving average of $109.98. Newmont Corporation has a 12-month low of $55.37 and a 12-month high of $134.88.

Newmont (NYSE:NEM) last announced its earnings results 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 company had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The firm’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.25 earnings per share. As a group, research analysts predict that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be given 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 yield of 1.0%. Newmont’s payout ratio is presently 13.49%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. TD Securities reaffirmed a “hold” rating and issued a $129.00 target price on shares of Newmont in a report on Monday, April 27th. Bank of America lifted their target price on shares of Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a report on Thursday, February 26th. TD Cowen reaffirmed a “buy” rating on shares of Newmont in a report on Monday, April 27th. Sanford C. Bernstein raised shares of Newmont from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $121.00 to $157.00 in a report on Friday, February 27th. Finally, Citigroup lifted 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. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Newmont has an average rating of “Moderate Buy” and an average price target of $142.26.

Insiders Place Their Bets

In related news, EVP Peter Wexler sold 13,378 shares of the company’s 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 transaction, the executive vice president owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. This represents a 16.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $408,852.24. Following the transaction, the chief executive officer directly owned 142,999 shares in the company, valued at $15,060,654.68. The trade was a 2.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 49,950 shares of company stock valued at $5,494,288. 0.06% of the stock is currently owned by insiders.

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.