Ethic Inc. Boosts Holdings in Newmont Corporation $NEM

Ethic Inc. boosted its position in shares of Newmont Corporation (NYSE:NEM) by 17.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,983 shares of the basic materials company’s stock after acquiring an additional 4,150 shares during the period. Ethic Inc.’s holdings in Newmont were worth $2,794,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NEM. GoalVest Advisory LLC purchased a new position in shares of Newmont in the fourth quarter worth $25,000. Cornerstone Planning Group LLC raised its holdings in shares of 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 last quarter. Lodestone Wealth Management LLC purchased a new position in shares of Newmont in the fourth quarter worth $28,000. Laurel Wealth Advisors LLC purchased a new position in shares of Newmont in the fourth quarter worth $30,000. Finally, Rosenberg Matthew Hamilton raised its holdings in shares of Newmont by 308.0% in the fourth quarter. Rosenberg Matthew Hamilton now owns 306 shares of the basic materials company’s stock worth $31,000 after buying an additional 231 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

NEM has been the subject of a number of research analyst reports. Sanford C. Bernstein raised shares of Newmont from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $121.00 to $157.00 in a report on Friday, February 27th. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Friday, April 3rd. DZ Bank raised shares of Newmont to a “strong-buy” rating in a report on Monday, January 19th. Wall Street Zen raised shares of Newmont from a “hold” rating to a “buy” rating in a report on Saturday, April 25th. Finally, Argus raised their price target on shares of Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $142.51.

Newmont Stock Up 3.5%

NYSE:NEM opened at $120.54 on Tuesday. The firm has a market capitalization of $128.69 billion, a P/E ratio of 15.63, a PEG ratio of 1.62 and a beta of 0.43. Newmont Corporation has a 1-year low of $48.27 and a 1-year high of $134.88. The company’s fifty day moving average price is $112.61 and its 200-day moving average price is $106.35. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. The firm had revenue of $7.31 billion for 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 business’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 earnings per share. As a group, equities research analysts anticipate that Newmont Corporation will post 9.72 EPS for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. Newmont’s dividend payout ratio is presently 13.49%.

Insider Buying and Selling at Newmont

In other news, EVP Peter Wexler sold 13,378 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $1,473,051.58. Following the sale, the executive vice president owned 67,865 shares in the company, valued at $7,472,615.15. This represents a 16.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 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 owned 49,315 shares in the company, valued at $5,430,074.65. The trade was a 5.73% 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 43,068 shares of company stock worth $4,769,475 over the last ninety days. 0.06% of the stock is owned by 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.