Expressive Wealth LLC Makes New $708,000 Investment in Newmont Corporation $NEM

Expressive Wealth LLC purchased a new position in shares of Newmont Corporation (NYSE:NEM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,090 shares of the basic materials company’s stock, valued at approximately $708,000. Newmont makes up about 0.8% of Expressive Wealth LLC’s portfolio, making the stock its 29th biggest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GoalVest Advisory LLC bought a new position in shares of Newmont in the fourth quarter valued at about $25,000. Physician Wealth Advisors Inc. raised its position in shares of Newmont by 327.8% in the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 236 shares during the period. JPL Wealth Management LLC bought a new position in shares of Newmont in the third quarter valued at about $27,000. Cornerstone Planning Group LLC raised its position in shares of Newmont by 312.1% in 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 during the period. Finally, Lodestone Wealth Management LLC bought a new position in shares of Newmont in the fourth quarter valued at about $28,000. 68.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Citigroup increased their price objective on shares of Newmont from $118.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. UBS Group dropped their price objective on shares of Newmont from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Canaccord Genuity Group increased their price objective on shares of Newmont from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Macquarie Infrastructure increased 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. Finally, The Goldman Sachs Group increased their price objective on shares of Newmont from $123.20 to $125.10 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Two research 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $142.05.

Newmont Trading Up 3.6%

NEM stock opened at $111.49 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The company’s 50-day simple moving average is $110.94 and its 200 day simple moving average is $108.60. Newmont Corporation has a 52 week low of $51.80 and a 52 week high of $134.88. The company has a market capitalization of $119.02 billion, a PE ratio of 14.46 and a beta of 0.43.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $6.83 billion. During the same period in the prior year, the company posted $1.25 earnings per share. Newmont’s revenue was up 45.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Newmont Corporation will post 9.47 earnings per share for the current year.

Newmont Announces Dividend

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

Insider Activity

In other Newmont news, insider David James Fry sold 18,394 shares of the 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 sale, the insider directly owned 17,147 shares in the company, valued at $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David John Thornton sold 2,296 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $252,812.56. Following the sale, the insider owned 23,163 shares in the company, valued at $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. Over the last ninety days, insiders have sold 43,068 shares of company stock valued at $4,769,475. Corporate insiders own 0.06% of the company’s stock.

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.