United Capital Management of KS Inc. Cuts Stock Position in Newmont Corporation $NEM

United Capital Management of KS Inc. lowered its holdings in Newmont Corporation (NYSE:NEM) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 111,207 shares of the basic materials company’s stock after selling 6,861 shares during the period. Newmont comprises 1.6% of United Capital Management of KS Inc.’s holdings, making the stock its 25th largest position. United Capital Management of KS Inc.’s holdings in Newmont were worth $11,104,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GoalVest Advisory LLC purchased a new position in Newmont in the fourth quarter worth $25,000. Swiss RE Ltd. purchased a new position in Newmont in the fourth quarter worth $26,000. Cornerstone Planning Group LLC boosted its position in Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 206 shares during the last quarter. Lodestone Wealth Management LLC purchased a new position in Newmont in the fourth quarter worth $28,000. Finally, Laurel Wealth Advisors LLC purchased a new position in Newmont in the fourth quarter worth $30,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on NEM. TD boosted their price objective on Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. Barclays began coverage on Newmont in a research report on Thursday, May 21st. They issued an “overweight” rating and a $133.00 price objective on the stock. Royal Bank Of Canada cut their price objective on Newmont from $160.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 3rd. Bank of America boosted their price objective on Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, Jefferies Financial Group upped their price target on Newmont from $154.00 to $158.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $142.26.

Newmont Stock Performance

Shares of NEM opened at $100.10 on Friday. The stock’s 50-day simple moving average is $110.94 and its 200 day simple moving average is $109.98. The stock has a market capitalization of $106.86 billion, a price-to-earnings ratio of 12.98, a price-to-earnings-growth ratio of 1.62 and a beta of 0.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. Newmont Corporation has a 52-week low of $55.37 and a 52-week high of $134.88.

Newmont (NYSE:NEM) last issued its quarterly earnings data 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. The business had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm’s quarterly revenue was up 45.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 EPS. Research analysts forecast that Newmont Corporation will post 9.91 EPS for the current fiscal 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. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. Newmont’s dividend payout ratio is 13.49%.

Insider Buying and Selling at Newmont

In related news, EVP Peter Wexler sold 13,378 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $7,472,615.15. This represents a 16.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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, insider David James Fry sold 18,394 shares of the stock in a transaction dated 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 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 position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 49,950 shares of company stock worth $5,494,288 in the last three months. 0.06% of the stock is currently owned by corporate insiders.

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.