Yousif Capital Management LLC Has $12.62 Million Stake in Newmont Corporation $NEM

Yousif Capital Management LLC reduced its holdings in Newmont Corporation (NYSE:NEM) by 8.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 126,387 shares of the basic materials company’s stock after selling 11,027 shares during the quarter. Yousif Capital Management LLC’s holdings in Newmont were worth $12,620,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Apella Capital LLC raised its holdings in shares of Newmont by 4.1% in the 4th quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock worth $219,000 after acquiring an additional 86 shares during the last quarter. New Wave Wealth Advisors LLC grew its position in Newmont by 1.3% in the 4th quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock worth $684,000 after purchasing an additional 88 shares in the last quarter. Norden Group LLC grew its position in Newmont by 0.7% in the 4th quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock worth $1,235,000 after purchasing an additional 90 shares in the last quarter. Colonial Trust Advisors grew its position in Newmont by 20.8% in the 3rd quarter. Colonial Trust Advisors now owns 684 shares of the basic materials company’s stock worth $58,000 after purchasing an additional 118 shares in the last quarter. Finally, Worth Financial Advisory Group LLC grew its position in Newmont by 2.5% in the 4th quarter. Worth Financial Advisory Group LLC now owns 5,432 shares of the basic materials company’s stock worth $542,000 after purchasing an additional 130 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on NEM. DZ Bank raised Newmont to a “strong-buy” rating in a report on Monday, January 19th. National Bank Financial upped their target price on Newmont from $120.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. Scotiabank decreased their price objective on shares of Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a report on Friday, March 20th. TD Cowen lifted their price objective on shares of Newmont from $89.00 to $120.00 and gave the stock a “hold” rating in a research report on Thursday, January 22nd. Finally, Stifel Nicolaus boosted their target price on shares of Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $133.78.

Insider Activity at Newmont

In related news, insider David James Fry sold 18,394 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider directly owned 17,147 shares of the company’s stock, valued at approximately $1,911,033.15. This trade represents a 51.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $113.09, for a total transaction of $339,270.00. Following the completion of the transaction, the executive vice president directly owned 52,315 shares of the company’s stock, valued at approximately $5,916,303.35. This trade represents a 5.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 24,394 shares of company stock valued at $2,713,281. 0.05% of the stock is owned by insiders.

Newmont Trading Up 3.0%

Shares of NEM stock opened at $118.06 on Thursday. The company has a 50 day moving average of $115.33 and a 200-day moving average of $102.26. The company has a quick ratio of 2.02, a current ratio of 2.29 and a debt-to-equity ratio of 0.16. Newmont Corporation has a 12-month low of $45.72 and a 12-month high of $134.88. The firm has a market cap of $127.49 billion, a P/E ratio of 18.47, a PEG ratio of 0.88 and a beta of 0.46.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.71. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.18 billion. During the same quarter last year, the business posted $1.40 EPS. Newmont’s quarterly revenue was up 20.6% compared to the same quarter last year. Sell-side analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Tuesday, March 3rd were issued a $0.26 dividend. This is a boost from Newmont’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $1.04 annualized dividend and a yield of 0.9%. Newmont’s payout ratio is 16.28%.

About Newmont

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.