New Age Alpha Advisors LLC Trims Stock Holdings in Newmont Corporation $NEM

New Age Alpha Advisors LLC decreased its holdings in Newmont Corporation (NYSE:NEM) by 22.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,347 shares of the basic materials company’s stock after selling 26,144 shares during the period. New Age Alpha Advisors LLC’s holdings in Newmont were worth $8,821,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Allen Capital Group LLC increased its stake in shares of Newmont by 6.9% in the fourth quarter. Allen Capital Group LLC now owns 6,119 shares of the basic materials company’s stock worth $611,000 after purchasing an additional 394 shares in the last quarter. Hantz Financial Services Inc. increased its stake in shares of Newmont by 56.0% in the fourth quarter. Hantz Financial Services Inc. now owns 4,843 shares of the basic materials company’s stock worth $484,000 after purchasing an additional 1,738 shares in the last quarter. Weinberger Asset Management Inc purchased a new position in shares of Newmont in the fourth quarter worth about $220,000. Prospera Financial Services Inc increased its stake in shares of Newmont by 8.9% in the fourth quarter. Prospera Financial Services Inc now owns 44,228 shares of the basic materials company’s stock worth $4,416,000 after purchasing an additional 3,609 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in shares of Newmont by 58.2% in the fourth quarter. Coldstream Capital Management Inc. now owns 33,191 shares of the basic materials company’s stock worth $3,314,000 after purchasing an additional 12,205 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Activity at Newmont

In other Newmont news, EVP Peter Wexler sold 13,378 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 $1,473,051.58. Following the completion of the sale, the executive vice president directly owned 67,865 shares in the company, valued at $7,472,615.15. The trade was a 16.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 Newmont stock in a transaction that occurred 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 sale, the insider owned 17,147 shares of the company’s stock, valued at approximately $1,911,033.15. The trade was a 51.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 43,068 shares of company stock valued at $4,769,475. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Macquarie Infrastructure lifted their target price on shares of Newmont from $130.00 to $133.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. TD Cowen restated a “buy” rating on shares of Newmont in a research report on Monday, April 27th. Stifel Nicolaus raised their price objective on shares of Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. National Bank Financial raised their price objective on shares of Newmont from $130.00 to $140.00 and gave the company a “sector perform” rating in a research report on Friday, April 24th. Finally, Scotiabank cut their price objective on shares of Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a research report on Friday, March 20th. Two equities 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $142.05.

Newmont Price Performance

NEM stock opened at $107.74 on Monday. The firm has a 50 day moving average of $111.03 and a 200-day moving average of $108.19. 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 $51.80 and a 12 month high of $134.88. The firm has a market capitalization of $115.02 billion, a P/E ratio of 13.97, a price-to-earnings-growth ratio of 1.54 and a beta of 0.43.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same period last year, the business earned $1.25 earnings per share. Newmont’s revenue was up 45.8% compared to the same quarter last year. As a group, sell-side analysts predict that Newmont Corporation will post 9.47 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business 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 annualized dividend and a yield of 1.0%. Newmont’s payout ratio is presently 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.