BW Gestao de Investimentos Ltda. Takes $584,000 Position in Newmont Corporation $NEM

BW Gestao de Investimentos Ltda. acquired a new stake in Newmont Corporation (NYSE:NEM) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 5,848 shares of the basic materials company’s stock, valued at approximately $584,000.

A number of other hedge funds also recently made changes to their positions in the business. Brighton Jones LLC increased its position in shares of Newmont by 15.7% during the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after purchasing an additional 1,847 shares in the last quarter. Woodline Partners LP increased its position in shares of Newmont by 40.7% during the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock worth $4,644,000 after purchasing an additional 27,813 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Newmont during the 2nd quarter worth about $240,000. Cerity Partners LLC increased its position in shares of Newmont by 108.9% during the 2nd quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock worth $7,303,000 after purchasing an additional 65,342 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Newmont by 8.5% during the 2nd quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock worth $2,854,000 after purchasing an additional 3,856 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on NEM shares. Scotiabank dropped their target price on shares of Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a research report on Friday, March 20th. Sanford C. Bernstein upgraded shares of Newmont from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $121.00 to $157.00 in a research report on Friday, February 27th. Royal Bank Of Canada increased their target price on shares of Newmont from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. Jefferies Financial Group dropped their target price on shares of Newmont from $165.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Finally, TD Cowen reiterated a “buy” rating on shares of Newmont in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.48.

Insider Activity at Newmont

In other Newmont news, insider David John Thornton sold 2,296 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 $252,812.56. Following the sale, the insider directly owned 23,163 shares in the company, valued at approximately $2,550,477.93. This trade represents a 9.02% decrease in their position. The sale 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 sale, the insider 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 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 Stock Up 1.2%

NYSE NEM opened at $109.45 on Wednesday. The stock has a fifty day moving average of $111.08 and a 200-day moving average of $109.23. The stock has a market capitalization of $116.84 billion, a P/E ratio of 14.20 and a beta of 0.42. Newmont Corporation has a 52 week low of $52.08 and a 52 week high of $134.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.83. The company had revenue of $7.31 billion for 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 for the quarter was up 45.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. On average, equities research analysts forecast that Newmont Corporation will post 9.72 EPS for the current year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is 13.49%.

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.