Bleakley Financial Group LLC Purchases 5,918 Shares of Newmont Corporation $NEM

Bleakley Financial Group LLC grew its stake in shares of Newmont Corporation (NYSE:NEM) by 9.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 66,859 shares of the basic materials company’s stock after purchasing an additional 5,918 shares during the quarter. Bleakley Financial Group LLC’s holdings in Newmont were worth $6,676,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Seaview Investment Managers LLC bought a new position in shares of Newmont during the fourth quarter valued at about $7,939,000. Atlatl Advisers LLC grew its stake in shares of Newmont by 25.1% during the fourth quarter. Atlatl Advisers LLC now owns 28,545 shares of the basic materials company’s stock valued at $2,850,000 after buying an additional 5,728 shares during the last quarter. Themes Management Co LLC bought a new position in shares of Newmont during the fourth quarter valued at about $746,000. Harbour Investments Inc. grew its stake in shares of Newmont by 24.1% during the fourth quarter. Harbour Investments Inc. now owns 9,325 shares of the basic materials company’s stock valued at $931,000 after buying an additional 1,811 shares during the last quarter. Finally, Allstate Corp grew its stake in shares of Newmont by 98.1% during the fourth quarter. Allstate Corp now owns 84,975 shares of the basic materials company’s stock valued at $8,485,000 after buying an additional 42,089 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Insider Activity at Newmont

In other news, insider David James Fry sold 18,394 shares of Newmont 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 completion of the transaction, the insider directly owned 17,147 shares in the company, valued at approximately $1,911,033.15. This trade represents a 51.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David John Thornton sold 2,296 shares of Newmont 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 $252,812.56. Following the transaction, the insider owned 23,163 shares of the company’s stock, valued at $2,550,477.93. The trade was a 9.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Over the last ninety days, insiders have sold 43,068 shares of company stock valued at $4,769,475. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Scotiabank reduced their price objective on Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a research note on Friday, March 20th. UBS Group reduced their price objective on Newmont from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. The Goldman Sachs Group raised their price objective on Newmont from $123.20 to $125.10 and gave the company a “buy” rating in a research note on Tuesday, April 28th. TD Cowen reaffirmed a “buy” rating on shares of Newmont in a research note on Monday, April 27th. Finally, Macquarie Infrastructure raised their price objective on Newmont from $130.00 to $133.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. 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 data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and a consensus target price of $142.05.

Newmont Stock Performance

Shares of NEM opened at $111.49 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. Newmont Corporation has a one year low of $51.80 and a one year high of $134.88. The company has a 50-day simple moving average of $110.94 and a two-hundred day simple moving average of $108.60. The firm has a market capitalization of $119.02 billion, a PE ratio of 14.46 and a beta of 0.43.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 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 business had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same period last year, the business posted $1.25 earnings per share. Newmont’s quarterly revenue was up 45.8% compared to the same quarter last year. On average, analysts anticipate that Newmont Corporation will post 9.47 EPS for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 0.9%. Newmont’s dividend payout ratio (DPR) is 13.49%.

Newmont 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.