Newmont Corporation $NEM Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC cut its stake in Newmont Corporation (NYSE:NEM) by 4.7% in the fourth quarter, HoldingsChannel reports. The fund owned 629,217 shares of the basic materials company’s stock after selling 31,065 shares during the period. HighTower Advisors LLC’s holdings in Newmont were worth $62,827,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of NEM. GoalVest Advisory LLC acquired a new position in Newmont in the fourth quarter valued at approximately $25,000. Physician Wealth Advisors Inc. lifted its holdings in Newmont by 327.8% in the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 236 shares during the period. Cornerstone Planning Group LLC lifted its holdings in Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 206 shares during the period. JPL Wealth Management LLC acquired a new position in Newmont in the third quarter valued at approximately $27,000. Finally, Lodestone Wealth Management LLC acquired a new position in Newmont in the fourth quarter valued at approximately $28,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Newmont Trading Up 2.2%

Shares of NEM stock opened at $107.36 on Thursday. 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 company 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. The stock has a 50 day simple moving average of $111.41 and a 200-day simple moving average of $107.81. Newmont Corporation has a 1-year low of $51.80 and a 1-year high of $134.88.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.83. The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the company posted $1.25 EPS. On average, equities research analysts expect that Newmont Corporation will post 9.47 EPS for the current fiscal year.

Newmont Announces Dividend

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

Insider Transactions at Newmont

In related news, insider David John Thornton sold 2,296 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $252,812.56. Following the completion of the sale, the insider directly owned 23,163 shares in the company, valued at approximately $2,550,477.93. The trade was a 9.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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, EVP Peter Wexler sold 13,378 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was 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 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. Insiders have sold a total of 43,068 shares of company stock valued at $4,769,475 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on NEM shares. Macquarie Infrastructure boosted their price target on Newmont from $130.00 to $133.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Royal Bank Of Canada boosted their price target on Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. BNP Paribas Exane boosted their price target on Newmont from $123.00 to $128.00 and gave the company a “neutral” rating in a report on Monday, March 2nd. TD Securities reaffirmed a “hold” rating and set a $129.00 target price on shares of Newmont in a research note on Monday, April 27th. Finally, National Bank Financial upped their target price on Newmont from $130.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Friday, April 24th. 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $142.51.

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.