Ascent Group LLC Acquires 6,378 Shares of Newmont Corporation $NEM

Ascent Group LLC increased its stake in Newmont Corporation (NYSE:NEM) by 37.1% in the 4th quarter, HoldingsChannel reports. The fund owned 23,575 shares of the basic materials company’s stock after acquiring an additional 6,378 shares during the period. Ascent Group LLC’s holdings in Newmont were worth $2,354,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Norden Group LLC lifted its stake in shares of Newmont by 0.7% in the 4th quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock valued at $1,235,000 after purchasing an additional 90 shares during the last quarter. Colonial Trust Advisors increased its position in shares of Newmont by 20.8% during the 3rd quarter. Colonial Trust Advisors now owns 684 shares of the basic materials company’s stock valued at $58,000 after purchasing an additional 118 shares during the last quarter. Worth Financial Advisory Group LLC increased its position in shares of Newmont by 2.5% during the 4th quarter. Worth Financial Advisory Group LLC now owns 5,432 shares of the basic materials company’s stock valued at $542,000 after purchasing an additional 130 shares during the last quarter. Howard Financial Services LTD. raised its holdings in Newmont by 5.6% during the 4th quarter. Howard Financial Services LTD. now owns 2,528 shares of the basic materials company’s stock valued at $252,000 after buying an additional 135 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its position in Newmont by 53.5% in the third quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock worth $34,000 after buying an additional 139 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Trading Up 0.1%

NYSE NEM opened at $114.13 on Monday. The stock has a market cap of $123.26 billion, a PE ratio of 17.86, a PEG ratio of 0.88 and a beta of 0.46. Newmont Corporation has a 12 month low of $42.93 and a 12 month high of $134.88. The company’s 50-day moving average price is $116.13 and its 200-day moving average price is $101.67. The company has a current ratio of 2.29, a quick ratio of 2.02 and a debt-to-equity ratio of 0.16.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 19th. The basic materials company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.71. The company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.18 billion. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The firm’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same quarter last year, the business posted $1.40 EPS. Equities research analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Tuesday, March 3rd were paid a dividend of $0.26 per share. This is a boost from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, March 3rd. Newmont’s payout ratio is presently 16.28%.

Wall Street Analyst Weigh In

NEM has been the subject of several recent analyst reports. UBS Group dropped their price objective on shares of Newmont from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Scotiabank lowered their target price on shares of Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a report on Friday, March 20th. Bank of America lifted their price target on shares of Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Canadian Imperial Bank of Commerce cut their price target on shares of Newmont from $71.00 to $67.00 in a report on Friday, February 27th. Finally, Sanford C. Bernstein raised shares of Newmont from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $121.00 to $157.00 in a research report on Friday, February 27th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $133.78.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $113.09, for a total transaction of $339,270.00. Following the completion of the sale, the executive vice president directly owned 52,315 shares of the company’s stock, valued at $5,916,303.35. The trade was a 5.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David James Fry sold 18,394 shares of the company’s stock in a transaction on 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 completion of the sale, the insider owned 17,147 shares of the company’s stock, valued at $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 24,394 shares of company stock valued at $2,713,281 in the last quarter. 0.05% of the stock is owned by company insiders.

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.