Newmont Corporation $NEM Position Boosted by Zhang Financial LLC

Zhang Financial LLC grew its holdings in shares of Newmont Corporation (NYSE:NEM) by 253.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 15,644 shares of the basic materials company’s stock after purchasing an additional 11,216 shares during the period. Zhang Financial LLC’s holdings in Newmont were worth $1,562,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in NEM. GoalVest Advisory LLC purchased a new stake in Newmont during the fourth quarter valued at about $25,000. Cornerstone Planning Group LLC lifted its stake in Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after buying an additional 206 shares in the last quarter. Lodestone Wealth Management LLC purchased a new stake in Newmont during the fourth quarter valued at about $28,000. Laurel Wealth Advisors LLC purchased a new stake in Newmont during the fourth quarter valued at about $30,000. Finally, Rosenberg Matthew Hamilton lifted its stake in Newmont by 308.0% during the fourth quarter. Rosenberg Matthew Hamilton now owns 306 shares of the basic materials company’s stock valued at $31,000 after buying an additional 231 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

NYSE NEM opened at $109.60 on Friday. The company has a 50 day simple moving average of $110.89 and a 200-day simple moving average of $108.96. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The firm has a market capitalization of $117.01 billion, a price-to-earnings ratio of 14.22 and a beta of 0.43. Newmont Corporation has a 52-week low of $51.80 and a 52-week high of $134.88.

Newmont (NYSE:NEM) last posted its quarterly 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 business had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The firm’s revenue was up 45.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 earnings per share. Equities research analysts predict that Newmont Corporation will post 9.72 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders 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 dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s dividend payout ratio is 13.49%.

Analysts Set New Price Targets

A number of research firms have commented on NEM. TD upped their price objective on shares of Newmont from $116.00 to $129.00 and gave the company a “hold” rating in a research note on Monday, April 27th. TD Securities reaffirmed a “hold” rating and set a $129.00 price objective on shares of Newmont in a research note on Monday, April 27th. TD Cowen reaffirmed a “buy” rating on shares of Newmont in a research note on Monday, April 27th. Royal Bank Of Canada upped their price objective on shares of Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Finally, Bank of America upped their price objective on shares of Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $141.53.

Insider Activity at Newmont

In other news, insider David John Thornton sold 2,296 shares of the 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 directly owned 23,163 shares of the company’s stock, valued at $2,550,477.93. This represents a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 49,315 shares of the company’s stock, valued at $5,430,074.65. This trade represents a 5.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 43,068 shares of company stock valued at $4,769,475 over the last ninety days. 0.06% of the stock is owned by company insiders.

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.