Bearing Point Capital LLC Acquires 5,956 Shares of Newmont Corporation $NEM

Bearing Point Capital LLC boosted its holdings in Newmont Corporation (NYSE:NEM) by 10.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 63,128 shares of the basic materials company’s stock after purchasing an additional 5,956 shares during the period. Bearing Point Capital LLC’s holdings in Newmont were worth $6,303,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. CWM LLC grew its holdings in shares of Newmont by 64.6% during the 4th quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock worth $20,259,000 after purchasing an additional 79,617 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Newmont by 24.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock worth $30,775,000 after purchasing an additional 54,530 shares in the last quarter. AustralianSuper Pty Ltd grew its holdings in shares of Newmont by 124.8% during the 3rd quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock worth $27,843,000 after purchasing an additional 183,360 shares in the last quarter. Waverton Investment Management Ltd grew its holdings in shares of Newmont by 3.4% during the 3rd quarter. Waverton Investment Management Ltd now owns 704,331 shares of the basic materials company’s stock worth $59,365,000 after purchasing an additional 23,139 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Newmont by 65.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 741,861 shares of the basic materials company’s stock worth $62,546,000 after purchasing an additional 293,901 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Newmont Price Performance

Shares of NEM stock opened at $109.60 on Friday. The stock’s fifty day simple moving average is $110.89 and its 200 day simple moving average is $108.96. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The firm has a market cap of $117.01 billion, a price-to-earnings ratio of 14.22 and a beta of 0.43. Newmont Corporation has a one year low of $51.80 and a one year high of $134.88.

Newmont (NYSE:NEM) last announced 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. The business had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.Newmont’s quarterly revenue was up 45.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 EPS. On average, analysts expect that Newmont Corporation will post 9.72 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be given 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 payout ratio is presently 13.49%.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $330,330.00. Following the completion of the transaction, the executive vice president owned 49,315 shares in the company, valued at approximately $5,430,074.65. The trade was a 5.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the transaction, the insider owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. The trade was a 9.02% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last 90 days, insiders have sold 43,068 shares of company stock worth $4,769,475. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NEM shares. Canadian Imperial Bank of Commerce decreased their price objective on Newmont from $177.00 to $176.00 and set an “outperform” rating on the stock in a report on Tuesday, April 21st. Weiss Ratings lowered Newmont from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday. National Bank Financial lifted their price objective on Newmont from $130.00 to $140.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. Jefferies Financial Group decreased their price objective on Newmont from $165.00 to $154.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Royal Bank Of Canada lifted their price objective on Newmont from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $141.53.

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.