GC Wealth Management RIA LLC Sells 12,208 Shares of Newmont Corporation $NEM

GC Wealth Management RIA LLC trimmed its position in shares of Newmont Corporation (NYSE:NEM) by 81.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,736 shares of the basic materials company’s stock after selling 12,208 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Newmont were worth $273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insiders Place Their Bets

In other Newmont news, insider David James Fry sold 18,394 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $111.45, for a total value of $2,050,011.30. Following the completion of the sale, the insider owned 17,147 shares in the company, valued at approximately $1,911,033.15. This represents a 51.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction 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 completion of the sale, the executive vice president owned 52,315 shares of the company’s stock, valued at $5,916,303.35. The trade was a 5.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 24,394 shares of company stock valued at $2,713,281 in the last quarter. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Jefferies Financial Group upped their price objective on Newmont from $162.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, April 10th. TD Cowen restated a “buy” rating on shares of Newmont in a research note on Monday. 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 note on Friday, March 20th. BMO Capital Markets upped their price objective on Newmont from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Finally, The Goldman Sachs Group upped their price objective on Newmont from $123.20 to $125.10 and gave the stock a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and an average target price of $142.51.

Newmont Trading Down 2.3%

Shares of NEM stock opened at $108.58 on Friday. Newmont Corporation has a 52-week low of $48.27 and a 52-week high of $134.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The firm has a market capitalization of $115.91 billion, a PE ratio of 14.08, a PEG ratio of 2.03 and a beta of 0.46. The stock has a fifty day simple moving average of $113.57 and a two-hundred day simple moving average of $105.35.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same quarter in the prior year, the business posted $1.25 EPS. Newmont’s revenue for the quarter was up 45.8% compared to the same quarter last year. On average, analysts predict that Newmont Corporation will post 9.47 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, May 27th. Newmont’s dividend payout ratio is presently 13.49%.

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.