Constitution Capital LLC Buys Shares of 5,350 Newmont Corporation $NEM

Constitution Capital LLC purchased a new position in shares of Newmont Corporation (NYSE:NEM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,350 shares of the basic materials company’s stock, valued at approximately $534,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEM. Norges Bank acquired a new position in Newmont during the second quarter worth $919,170,000. Invesco Ltd. lifted its position in Newmont by 45.0% during the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock worth $908,152,000 after buying an additional 4,839,447 shares in the last quarter. Boston Partners lifted its position in Newmont by 4,090.7% during the 2nd quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock worth $272,558,000 after buying an additional 4,532,263 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Newmont by 172.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock worth $362,888,000 after buying an additional 2,723,044 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Newmont by 106.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,155,210 shares of the basic materials company’s stock valued at $349,288,000 after acquiring an additional 2,146,905 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider David James Fry sold 18,394 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider owned 17,147 shares in the company, valued at approximately $1,911,033.15. This trade represents a 51.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $108.00, for a total transaction of $324,000.00. Following the sale, the executive vice president directly owned 55,315 shares of the company’s stock, valued at $5,974,020. The trade was a 5.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.05% of the stock is owned by corporate insiders.

Key Stories Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Zacks highlights Newmont as one of two basic-materials names showing positive earnings momentum (Earnings ESP), reinforcing expectations for continuing earnings surprises after Newmont’s recent quarter beat. Read More.
• Positive Sentiment: Heightened investor attention: Zacks reports Newmont is one of the most-searched names recently, which can drive intraday interest and trading flows. Read More.
• Neutral Sentiment: Dividend mechanics update for Australian CHESS/CDI holders: Newmont posted currency-exchange details for its ASX/CHESS dividend notification — administrative but clarifies cash flows for Australian investors. Read More.
• Neutral Sentiment: Executive share sales disclosed as pre-planned trades: Newmont announced a planned trading sale by EVP Peter Toth, which the company frames as routine and pre-arranged. Such plan-based sales are less likely to signal negative private information. Read More.
• Negative Sentiment: Falling gold prices are pressuring miners broadly — Barron’s notes gold has erased YTD gains and is dragging mining stocks lower, a primary headwind for Newmont’s revenue outlook and sentiment. Read More.
• Negative Sentiment: Analyst pressure: Scotiabank cut its Newmont price target to $151 and other outlets reported an analyst downgrade that previously knocked shares lower — analyst revisions can cap upside until commodity trends stabilize. Read More. Read More.
• Negative Sentiment: Insider selling reported: separate filings show an EVP sold roughly $324k of stock; while not uncommon, active insider sales can weigh on near-term sentiment. Read More.

Newmont Price Performance

NYSE:NEM opened at $97.94 on Tuesday. Newmont Corporation has a 12-month low of $42.93 and a 12-month high of $134.88. The firm has a market capitalization of $106.55 billion, a price-to-earnings ratio of 15.33, a P/E/G ratio of 0.74 and a beta of 0.39. The stock’s 50 day moving average price is $118.14 and its two-hundred day moving average price is $99.90. The company has a quick ratio of 2.02, a current ratio of 2.29 and a debt-to-equity ratio of 0.16.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, February 19th. The basic materials company reported $2.52 EPS for the quarter, topping the consensus estimate of $1.81 by $0.71. Newmont had a return on equity of 23.28% and a net margin of 31.25%.The company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.18 billion. During the same period in the previous year, the company posted $1.40 EPS. The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year. On average, analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 3rd will be issued a $0.26 dividend. This is an increase from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, March 3rd. Newmont’s dividend payout ratio is presently 16.28%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Scotiabank dropped their target price on Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a report on Friday. Canaccord Genuity Group upped their price objective on Newmont from $115.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. DZ Bank raised Newmont to a “strong-buy” rating in a report on Monday, January 19th. Stifel Nicolaus raised their target price on shares of Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Finally, UBS Group dropped their price target on shares of Newmont from $160.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $134.10.

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.