WCG Wealth Advisors LLC Purchases New Holdings in Newmont Corporation $NEM

WCG Wealth Advisors LLC acquired a new position in shares of Newmont Corporation (NYSE:NEM) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 41,770 shares of the basic materials company’s stock, valued at approximately $4,171,000.

A number of other institutional investors and hedge funds have also modified their holdings of NEM. CIBC Asset Management Inc raised its position in Newmont by 39.2% during the fourth quarter. CIBC Asset Management Inc now owns 357,199 shares of the basic materials company’s stock valued at $35,666,000 after buying an additional 100,499 shares during the period. Marble Wealth LLC acquired a new position in shares of Newmont in the 4th quarter valued at about $209,000. Mccarter Private Wealth Services LLC boosted its holdings in shares of Newmont by 2.4% during the fourth quarter. Mccarter Private Wealth Services LLC now owns 10,278 shares of the basic materials company’s stock worth $1,026,000 after purchasing an additional 244 shares during the period. Bank of New York Mellon Corp increased its stake in Newmont by 6.7% in the 4th quarter. Bank of New York Mellon Corp now owns 11,622,479 shares of the basic materials company’s stock valued at $1,160,505,000 after buying an additional 725,012 shares during the period. Finally, Westpac Banking Corp boosted its stake in shares of Newmont by 105.3% during the 4th quarter. Westpac Banking Corp now owns 79,665 shares of the basic materials company’s stock valued at $7,955,000 after buying an additional 40,852 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling at Newmont

In other Newmont news, insider David John Thornton sold 2,296 shares of the firm’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 $252,812.56. Following the completion of the sale, the insider owned 23,163 shares in the company, valued at approximately $2,550,477.93. This trade represents a 9.02% decrease in their position. The sale was disclosed in a legal filing 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 Toth sold 3,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $315,960.00. Following the completion of the transaction, the executive vice president directly owned 46,315 shares of the company’s stock, valued at approximately $4,877,895.80. This trade represents a 6.08% 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. Insiders sold 49,950 shares of company stock valued at $5,494,288 over the last quarter. Company insiders own 0.06% of the company’s stock.

Newmont Stock Up 0.9%

Shares of NEM stock opened at $108.46 on Friday. The stock has a 50 day moving average of $111.74 and a 200-day moving average of $109.62. The firm has a market cap of $115.79 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 1.78 and a beta of 0.42. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 12 month low of $52.08 and a 12 month 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The business had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. Newmont’s revenue was up 45.8% compared to the same quarter last year. On average, equities analysts predict that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend 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%.

Key Stories Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Record gold prices are putting Newmont back in focus, reinforcing the stock’s appeal as a major gold producer and potential beneficiary of sustained strength in bullion. Record Gold Prices Put Newmont Back In Market Focus
• Positive Sentiment: RBC Capital maintained an outperform rating on Newmont despite lowering its price target to $140, signaling continued confidence in upside from current levels. RBC price target update
• Positive Sentiment: Recent bullish research also highlighted Newmont’s strong free cash flow, solid liquidity, and the company’s $6 billion buyback authorization as supportive long-term fundamentals. Newmont: Gold’s Volatility Creates A Long-Term Opportunity
• Neutral Sentiment: Insider selling by CEO Natascha Viljoen and EVP Peter Toth was disclosed, but both trades were made under pre-arranged Rule 10b5-1 plans, which makes them less likely to signal a negative change in outlook.
• Neutral Sentiment: Some recent articles suggest Newmont may be trading near fair value after its sharp multi-month rally, so investors are weighing whether most of the near-term upside is already priced in. A Look At Newmont (NEM) Valuation As Shares Trade Near Estimated Fair Value
• Negative Sentiment: One market note warned that after a roughly 96% one-year surge, Newmont could face limited additional upside if gold prices or mining sentiment cool off. Is It Too Late To Reassess Newmont (NEM) After Its 1 Year 96% Surge?

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. The Goldman Sachs Group dropped their target price on Newmont from $125.10 to $122.50 and set a “buy” rating on the stock in a research report on Thursday. Citigroup increased their target price 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. Royal Bank Of Canada cut their target price on Newmont from $160.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday. BNP Paribas Exane upped their price target on Newmont from $123.00 to $128.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Finally, Canaccord Genuity Group increased their price objective on Newmont from $150.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.07.

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.