Stephens Inc. AR Boosts Stock Position in Newmont Corporation $NEM

Stephens Inc. AR increased its stake in Newmont Corporation (NYSE:NEM) by 34.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 305,702 shares of the basic materials company’s stock after buying an additional 78,373 shares during the quarter. Stephens Inc. AR’s holdings in Newmont were worth $30,524,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NEM. Brighton Jones LLC grew its stake in shares of Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after buying an additional 1,847 shares during the last quarter. Woodline Partners LP grew its stake in shares of Newmont by 40.7% in the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock worth $4,644,000 after buying an additional 27,813 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Newmont in the 2nd quarter worth approximately $240,000. Cerity Partners LLC grew its stake in shares of Newmont by 108.9% in the 2nd quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock worth $7,303,000 after buying an additional 65,342 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of Newmont by 8.5% in the 2nd quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock worth $2,854,000 after buying an additional 3,856 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

NEM has been the topic of several recent research reports. Stifel Nicolaus upped their price target on Newmont from $120.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. BNP Paribas Exane increased their target price on Newmont from $123.00 to $128.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Macquarie Infrastructure increased their target price on Newmont from $130.00 to $133.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Royal Bank Of Canada increased their target price on Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Finally, TD Cowen reiterated a “buy” rating on shares of Newmont in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.51.

Newmont Stock Performance

Shares of NEM opened at $108.93 on Friday. The business’s fifty day simple moving average is $111.96 and its two-hundred day simple moving average is $107.04. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 12 month low of $48.61 and a 12 month high of $134.88. The company has a market cap of $116.29 billion, a price-to-earnings ratio of 14.13, a P/E/G ratio of 1.62 and a beta of 0.43.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. During the same period last year, the business posted $1.25 EPS. The company’s revenue was up 45.8% compared to the same quarter last year. Research analysts anticipate that Newmont Corporation will post 9.72 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s dividend payout ratio is presently 13.49%.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $330,330.00. Following the transaction, the executive vice president directly owned 49,315 shares of the company’s stock, valued at $5,430,074.65. This represents a 5.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the transaction, the insider directly owned 23,163 shares in the company, valued at $2,550,477.93. The trade was 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 sold 43,068 shares of company stock valued at $4,769,475 over the last 90 days. 0.06% of the stock is owned by corporate insiders.

Newmont 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.