ProShare Advisors LLC Acquires 8,383 Shares of Newmont Corporation $NEM

ProShare Advisors LLC lifted its holdings in Newmont Corporation (NYSE:NEM) by 3.7% in the fourth quarter, Holdings Channel reports. The fund owned 233,835 shares of the basic materials company’s stock after purchasing an additional 8,383 shares during the quarter. ProShare Advisors LLC’s holdings in Newmont were worth $23,348,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NEM. GoalVest Advisory LLC purchased a new stake in Newmont during the fourth quarter valued at approximately $25,000. Physician Wealth Advisors Inc. boosted its holdings in shares of Newmont by 327.8% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 236 shares during the period. Cornerstone Planning Group LLC increased its position 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 valued at $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 3rd quarter valued at approximately $27,000. Finally, Lodestone Wealth Management LLC purchased a new stake in Newmont during the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of Newmont stock opened at $107.36 on Thursday. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The stock’s fifty day moving average is $111.41 and its two-hundred day moving average is $107.81. Newmont Corporation has a 52 week low of $51.80 and a 52 week high of $134.88. The company has a market capitalization of $114.61 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 1.50 and a beta of 0.43.

Newmont (NYSE:NEM) last released its earnings results 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 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%.The business’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period last year, the company earned $1.25 earnings per share. As a group, analysts expect that Newmont Corporation will post 9.47 earnings per share for the current year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be issued 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 dividend payout ratio (DPR) is presently 13.49%.

Analyst Ratings Changes

Several research analysts have commented on NEM shares. TD Cowen reaffirmed a “buy” rating on shares of Newmont in a research note on Monday, April 27th. Sanford C. Bernstein raised shares of Newmont from a “market perform” rating to an “outperform” rating and increased their target price for the company from $121.00 to $157.00 in a research note on Friday, February 27th. BMO Capital Markets lifted their price target on shares of Newmont from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Scotiabank dropped their price target on shares of Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a research note on Friday, March 20th. Finally, Stifel Nicolaus upped their price target on shares of Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. 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 stock. According to data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average price target of $142.51.

Insider Activity at Newmont

In other news, insider David John Thornton sold 2,296 shares of Newmont 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 $252,812.56. Following the completion of the sale, the insider owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. The trade was a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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, insider David James Fry sold 18,394 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the completion of the sale, the insider owned 17,147 shares of the company’s stock, valued at $1,911,033.15. The trade was a 51.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 43,068 shares of company stock valued at $4,769,475 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

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.