Newmont Corporation $NEM Shares Sold by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. lowered its stake in Newmont Corporation (NYSE:NEM) by 18.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,981 shares of the basic materials company’s stock after selling 5,062 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Newmont were worth $2,195,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Estate Counselors LLC purchased a new stake in Newmont during the 3rd quarter worth approximately $4,182,000. CWM LLC increased its stake in shares of Newmont by 64.6% in the fourth quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock worth $20,259,000 after buying an additional 79,617 shares during the last quarter. AustralianSuper Pty Ltd raised its holdings in Newmont by 124.8% in the third quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock valued at $27,843,000 after acquiring an additional 183,360 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Newmont by 24.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock valued at $30,775,000 after acquiring an additional 54,530 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC grew its holdings in Newmont by 286.5% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company’s stock worth $5,101,000 after acquiring an additional 44,846 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Raymond James Financial increased their price target on shares of Newmont from $111.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, January 15th. Canaccord Genuity Group lifted their target price on Newmont from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Stifel Nicolaus upped their price target 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 decreased their price objective on shares of Newmont from $150.00 to $140.00 and set a “buy” rating for the company in a report on Friday, March 27th. Finally, DZ Bank upgraded shares of Newmont to a “strong-buy” rating in a research report on Monday, January 19th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $138.26.

Insider Buying and Selling at Newmont

In related news, insider David James Fry sold 18,394 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the sale, the insider owned 17,147 shares in the company, valued at $1,911,033.15. This represents a 51.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $113.09, for a total value of $339,270.00. Following the sale, the executive vice president directly owned 52,315 shares in the company, valued at $5,916,303.35. The trade was a 5.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 24,394 shares of company stock worth $2,713,281 in the last quarter. Insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of NEM stock opened at $110.70 on Thursday. The stock’s fifty day simple moving average is $114.89 and its 200-day simple moving average is $104.40. The company has a market capitalization of $119.55 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 0.84 and a beta of 0.46. The company has a current ratio of 2.29, a quick ratio of 2.02 and a debt-to-equity ratio of 0.16. Newmont Corporation has a 1-year low of $48.27 and a 1-year high of $134.88.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.71. The company had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.18 billion. Newmont had a return on equity of 23.28% and a net margin of 31.25%.The firm’s quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.40 EPS. On average, sell-side analysts predict that Newmont Corporation will post 8.83 earnings per share for the current fiscal year.

Newmont Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Tuesday, March 3rd were given a $0.26 dividend. This is a positive change from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, March 3rd. Newmont’s payout ratio is 16.28%.

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.