Cloverfields Capital Group LP Sells 5,923 Shares of Newmont Corporation $NEM

Cloverfields Capital Group LP lessened its position in shares of Newmont Corporation (NYSE:NEM) by 27.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,465 shares of the basic materials company’s stock after selling 5,923 shares during the period. Cloverfields Capital Group LP’s holdings in Newmont were worth $1,544,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GoalVest Advisory LLC acquired a new position in Newmont in the fourth quarter valued at about $25,000. Swiss RE Ltd. acquired a new position in Newmont during the fourth quarter valued at approximately $26,000. Cornerstone Planning Group LLC raised its position in Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 206 shares in the last quarter. JPL Wealth Management LLC acquired a new position in shares of Newmont during the third quarter worth $27,000. Finally, Lodestone Wealth Management LLC acquired a new position in shares of Newmont during the fourth quarter worth $28,000. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $252,812.56. Following the completion of the transaction, the insider directly owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. The trade was a 9.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 sold 49,950 shares of company stock worth $5,494,288 in the last 90 days. 0.06% of the stock is currently owned by company insiders.

Newmont Trading Up 2.6%

Shares of NEM stock opened at $100.10 on Friday. The company has a 50 day moving average of $110.94 and a 200-day moving average of $109.98. 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 $55.37 and a 12-month high of $134.88. The firm has a market cap of $106.86 billion, a P/E ratio of 12.98, a PEG ratio of 1.62 and a beta of 0.42.

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 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 during the quarter, compared to analyst estimates of $6.83 billion. During the same quarter last year, the business posted $1.25 EPS. Newmont’s quarterly revenue was up 45.8% compared to the same quarter last year. Sell-side analysts anticipate that Newmont Corporation will post 9.91 earnings per share for the current year.

Newmont Dividend Announcement

The firm 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 $0.26 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 1.0%. Newmont’s dividend payout ratio (DPR) is 13.49%.

Analyst Ratings Changes

NEM has been the subject of a number of recent research reports. National Bank Financial increased their price objective on Newmont from $130.00 to $140.00 and gave the company a “sector perform” rating in a report on Friday, April 24th. BMO Capital Markets increased their price objective on shares of Newmont from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Macquarie Infrastructure increased their price objective on shares of Newmont from $130.00 to $133.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Argus upped their target price on shares of Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Finally, Barclays assumed coverage on shares of Newmont in a report on Thursday, May 21st. They issued an “overweight” rating and a $133.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $142.26.

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.