Milford Funds Ltd. Purchases Shares of 1,019,021 Newmont Corporation $NEM

Milford Funds Ltd. purchased a new stake in Newmont Corporation (NYSE:NEM) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 1,019,021 shares of the basic materials company’s stock, valued at approximately $101,749,000. Newmont comprises about 2.0% of Milford Funds Ltd.’s portfolio, making the stock its 16th largest holding. Milford Funds Ltd. owned approximately 0.09% of Newmont as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GoalVest Advisory LLC bought a new stake in Newmont in the 4th quarter valued at $25,000. Swiss RE Ltd. bought a new stake in Newmont in the 4th quarter valued at $26,000. Cornerstone Planning Group LLC increased its holdings in Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 206 shares during the last quarter. Lodestone Wealth Management LLC bought a new stake in Newmont in the 4th quarter valued at $28,000. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of Newmont in the 4th quarter worth about $30,000. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Performance

Shares of NYSE:NEM opened at $100.10 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 $55.37 and a 12 month high of $134.88. The company has a market capitalization of $106.86 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 1.62 and a beta of 0.42. The firm’s 50-day moving average is $110.94 and its 200 day moving average is $109.98.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) 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 net margin of 33.87% and a return on equity of 27.84%. The firm’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.25 earnings per share. Research analysts predict that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NEM shares. Canadian Imperial Bank of Commerce set a $175.00 target price on shares of Newmont and gave the stock an “outperform” rating in a report on Monday, June 1st. TD Cowen restated a “buy” rating on shares of Newmont in a report on Monday, April 27th. Barclays started coverage on shares of Newmont in a report on Thursday, May 21st. They issued an “overweight” rating and a $133.00 target price on the stock. The Goldman Sachs Group reduced their target price on shares of Newmont from $125.10 to $122.50 and set a “buy” rating on the stock in a report on Thursday, June 4th. Finally, Royal Bank Of Canada reduced their target price on shares of Newmont from $160.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.26.

Insiders Place Their Bets

In other Newmont news, insider David James Fry sold 18,394 shares of the firm’s stock in a transaction dated 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. This trade represents a 51.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Natascha Viljoen sold 3,882 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the completion of the sale, the chief executive officer directly owned 142,999 shares of the company’s stock, valued at approximately $15,060,654.68. The trade was a 2.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 49,950 shares of company stock valued at $5,494,288 over 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.