Leonteq Securities AG Takes Position in Newmont Corporation $NEM

Leonteq Securities AG purchased a new stake in shares of Newmont Corporation (NYSE:NEM) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 90,319 shares of the basic materials company’s stock, valued at approximately $9,018,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NEM. Brighton Jones LLC lifted its holdings in shares of Newmont by 15.7% during the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after purchasing an additional 1,847 shares in the last quarter. Woodline Partners LP increased its position in Newmont by 40.7% during the first quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock valued at $4,644,000 after acquiring an additional 27,813 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Newmont during the second quarter valued at $240,000. Cerity Partners LLC increased its position in Newmont by 108.9% during the second quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock valued at $7,303,000 after acquiring an additional 65,342 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in Newmont by 8.5% during the second quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock valued at $2,854,000 after acquiring an additional 3,856 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Stock Performance

Shares of NEM opened at $107.36 on Thursday. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The business has a 50-day simple moving average of $111.41 and a two-hundred day simple moving average of $107.81. The stock has a market cap of $114.61 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 1.50 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 issued its quarterly 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. The business had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business’s quarterly revenue was up 45.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.25 earnings per share. On average, analysts expect that Newmont Corporation will post 9.47 EPS for the current year.

Newmont Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NEM shares. Stifel Nicolaus upped their price objective on Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. UBS Group reduced their price objective on Newmont from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, March 27th. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 3rd. Scotiabank reduced their price objective on Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a research report on Friday, March 20th. Finally, TD Cowen reiterated a “buy” rating on shares of Newmont in a research report on Monday, April 27th. 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.51.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total value 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. This represents a 5.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was 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 SEC filing for this sale provides additional information. 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. In the last three months, insiders have sold 43,068 shares of company stock worth $4,769,475. Corporate insiders own 0.06% of the company’s stock.

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.