Moors & Cabot Inc. Sells 9,574 Shares of Newmont Corporation $NEM

Moors & Cabot Inc. cut its stake in Newmont Corporation (NYSE:NEM) by 17.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,921 shares of the basic materials company’s stock after selling 9,574 shares during the period. Moors & Cabot Inc.’s holdings in Newmont were worth $4,485,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NEM. GoalVest Advisory LLC purchased a new stake in Newmont in the fourth quarter worth about $25,000. Physician Wealth Advisors Inc. lifted its holdings in Newmont by 327.8% in the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after buying an additional 236 shares during the period. Cornerstone Planning Group LLC lifted its holdings in Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after buying an additional 206 shares during the period. JPL Wealth Management LLC purchased a new stake in Newmont in the third quarter worth about $27,000. Finally, Lodestone Wealth Management LLC purchased a new stake in Newmont in the fourth quarter worth about $28,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on NEM shares. Royal Bank Of Canada raised their price objective on shares of Newmont from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. BNP Paribas Exane raised their price objective on shares of Newmont from $123.00 to $128.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. Argus raised their target price on shares of Newmont from $94.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Barclays assumed coverage on shares of Newmont in a research note on Thursday, May 21st. They set an “overweight” rating and a $133.00 target price for the company. Finally, Canaccord Genuity Group raised their target price on shares of Newmont from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Two analysts have 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 data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average target price of $141.53.

Insider Activity at Newmont

In other Newmont 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 value 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the sale, 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. In the last 90 days, insiders sold 43,068 shares of company stock worth $4,769,475. Company insiders own 0.06% of the company’s stock.

Newmont Trading Up 1.0%

NYSE:NEM opened at $108.32 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. Newmont Corporation has a 12 month low of $51.80 and a 12 month high of $134.88. The company has a market cap of $115.64 billion, a PE ratio of 14.05 and a beta of 0.43. The company has a 50 day simple moving average of $110.82 and a two-hundred day simple moving average of $108.95.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping 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 business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter in the previous year, the firm posted $1.25 EPS. The firm’s revenue was up 45.8% on a year-over-year basis. Research analysts forecast that Newmont Corporation will post 9.72 earnings per share for the current year.

Newmont Announces Dividend

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 $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s payout ratio is 13.49%.

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.