Rothschild Wealth LLC Takes $621,000 Position in Newmont Corporation $NEM

Rothschild Wealth LLC acquired a new stake in shares of Newmont Corporation (NYSE:NEM) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,215 shares of the basic materials company’s stock, valued at approximately $621,000.

A number of other large investors have also made changes to their positions in NEM. Norges Bank acquired a new position in shares of Newmont during the fourth quarter valued at about $1,443,128,000. Assetmark Inc. raised its position in Newmont by 398.3% in the fourth quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock worth $286,619,000 after purchasing an additional 2,294,396 shares in the last quarter. Boston Partners raised its position in Newmont by 49.3% in the third quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock worth $585,828,000 after purchasing an additional 2,288,653 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Newmont by 106.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 4,155,210 shares of the basic materials company’s stock worth $349,288,000 after purchasing an additional 2,146,905 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in Newmont by 142.0% in the second quarter. Ameriprise Financial Inc. now owns 3,262,258 shares of the basic materials company’s stock worth $189,963,000 after purchasing an additional 1,914,286 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Canaccord Genuity Group increased their price target on shares of Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Citigroup increased their price target on shares of Newmont from $118.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. TD Cowen reaffirmed a “buy” rating on shares of Newmont in a research note on Monday, April 27th. Jefferies Financial Group decreased their price objective on shares of Newmont from $165.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Finally, TD Securities reaffirmed a “hold” rating and set a $129.00 price objective on shares of Newmont in a research note on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $141.48.

Insider Activity at Newmont

In related news, insider David James Fry sold 18,394 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the sale, the insider directly owned 17,147 shares in the company, valued at $1,911,033.15. This trade represents a 51.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Peter Wexler sold 13,378 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the sale, the executive vice president owned 67,865 shares in the company, valued at approximately $7,472,615.15. The trade was a 16.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In the last ninety days, insiders have sold 43,068 shares of company stock valued at $4,769,475. Insiders own 0.06% of the company’s stock.

Newmont Trading Down 1.3%

NEM opened at $108.35 on Tuesday. The firm’s fifty day moving average is $111.08 and its two-hundred day moving average is $109.23. 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 cap of $115.67 billion, a PE ratio of 14.05 and a beta of 0.43. Newmont Corporation has a twelve month low of $52.08 and a twelve month high of $134.88.

Newmont (NYSE:NEM) last posted 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. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same period last year, the business posted $1.25 earnings per share. The business’s revenue for the quarter was up 45.8% compared to the same quarter last year. Equities research analysts anticipate that Newmont Corporation will post 9.72 EPS for the current year.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) 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.