AlphaQuest LLC Has $2.20 Million Holdings in Newmont Corporation $NEM

AlphaQuest LLC lessened its holdings in Newmont Corporation (NYSE:NEM) by 26.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,987 shares of the basic materials company’s stock after selling 8,082 shares during the period. AlphaQuest LLC’s holdings in Newmont were worth $2,195,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of NEM. GoalVest Advisory LLC bought a new stake in Newmont during the fourth quarter valued at about $25,000. Physician Wealth Advisors Inc. boosted its holdings in Newmont by 327.8% during the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 236 shares during the period. Cornerstone Planning Group LLC boosted its holdings 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 acquiring an additional 206 shares during the period. JPL Wealth Management LLC bought a new stake in Newmont during the third quarter valued at about $27,000. Finally, Lodestone Wealth Management LLC bought a new stake in Newmont during the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $330,330.00. Following the completion of the sale, the executive vice president owned 49,315 shares of the company’s stock, valued at approximately $5,430,074.65. This trade represents a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David James Fry sold 18,394 shares of the stock in a transaction that occurred on 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 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 43,068 shares of company stock worth $4,769,475. Corporate insiders own 0.06% of the company’s stock.

Newmont Stock Performance

NYSE:NEM opened at $111.49 on Wednesday. Newmont Corporation has a 12-month low of $51.80 and a 12-month high of $134.88. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $119.02 billion, a PE ratio of 14.46 and a beta of 0.43. The firm has a 50-day moving average price of $110.94 and a 200 day moving average price of $108.60.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.83. The company had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company’s revenue was up 45.8% on a year-over-year basis. During the same quarter last year, the business posted $1.25 earnings per share. Research analysts anticipate that Newmont Corporation will post 9.47 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders 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 annualized dividend and a dividend yield of 0.9%. Newmont’s dividend payout ratio (DPR) is presently 13.49%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Argus upped their price objective on shares of Newmont from $94.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. TD upped their price objective on shares of Newmont from $116.00 to $129.00 and gave the company a “hold” rating in a research report on Monday, April 27th. Macquarie Infrastructure upped their price objective on shares of Newmont from $130.00 to $133.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Jefferies Financial Group upped their price objective on shares of Newmont from $162.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, April 10th. Finally, Bank of America increased their price target on shares of Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.05.

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.