Peterson Wealth Services Sells 8,168 Shares of Newmont Corporation $NEM

Peterson Wealth Services decreased its position in shares of Newmont Corporation (NYSE:NEM) by 75.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,724 shares of the basic materials company’s stock after selling 8,168 shares during the quarter. Peterson Wealth Services’ holdings in Newmont were worth $272,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GoalVest Advisory LLC bought a new position in Newmont during the fourth quarter worth about $25,000. Cornerstone Planning Group LLC lifted its holdings in Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 206 shares in the last quarter. JPL Wealth Management LLC bought a new position in Newmont during the third quarter worth about $27,000. Lodestone Wealth Management LLC bought a new position in Newmont during the fourth quarter worth about $28,000. Finally, Laurel Wealth Advisors LLC bought a new position in Newmont during the fourth quarter worth about $30,000. 68.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Peter Wexler sold 13,378 shares of the business’s 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 of the company’s stock, valued at $7,472,615.15. The trade was a 16.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the sale, the chief executive officer owned 142,999 shares in the company, valued at $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 a total of 49,950 shares of company stock valued at $5,494,288 over the last 90 days. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NEM has been the topic of a number of research reports. Canaccord Genuity Group lifted their price target 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. Sanford C. Bernstein raised shares of Newmont from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $121.00 to $157.00 in a research note on Friday, February 27th. Barclays initiated coverage on shares of Newmont in a research note on Thursday, May 21st. They issued an “overweight” rating and a $133.00 price target on the stock. National Bank Financial lifted their price target on shares of Newmont from $130.00 to $140.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. Finally, Scotiabank cut their price target on shares of Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a research note on Friday, March 20th. 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 company’s stock. According to data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average price target of $142.26.

Newmont Stock Performance

Shares of Newmont stock opened at $97.52 on Friday. The stock’s 50-day moving average is $111.21 and its 200-day moving average is $110.05. 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 cap of $104.11 billion, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 1.54 and a beta of 0.42. Newmont Corporation has a one year low of $54.14 and a one year high of $134.88.

Newmont (NYSE:NEM) last announced its quarterly earnings data 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 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 firm’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 earnings per share. Equities analysts predict that Newmont Corporation will post 9.91 earnings per share for the current fiscal 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 given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s payout ratio is currently 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.