Barings LLC Has $14.09 Million Stake in Newmont Corporation $NEM

Barings LLC grew its position in Newmont Corporation (NYSE:NEM) by 24.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 141,128 shares of the basic materials company’s stock after purchasing an additional 27,352 shares during the quarter. Barings LLC’s holdings in Newmont were worth $14,092,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. GoalVest Advisory LLC acquired a new position in shares of Newmont in the fourth quarter valued at about $25,000. Cornerstone Planning Group LLC grew its stake 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 acquiring an additional 206 shares in the last quarter. Lodestone Wealth Management LLC acquired a new position in shares of Newmont in the fourth quarter valued at about $28,000. Laurel Wealth Advisors LLC acquired a new position in shares of Newmont in the fourth quarter valued at about $30,000. Finally, Rosenberg Matthew Hamilton grew its stake in shares of Newmont by 308.0% in the fourth quarter. Rosenberg Matthew Hamilton now owns 306 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 231 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on NEM shares. Jefferies Financial Group increased their price target on Newmont from $154.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday. Royal Bank Of Canada reduced their price target on Newmont from $160.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 3rd. The Goldman Sachs Group reduced their price target on Newmont from $125.10 to $122.50 and set a “buy” rating on the stock in a research report on Thursday, June 4th. UBS Group reduced their price target on Newmont from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Finally, Sanford C. Bernstein raised Newmont from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $121.00 to $157.00 in a research report on Friday, February 27th. Two equities 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.26.

Newmont Trading Up 5.1%

Shares of NEM stock opened at $97.52 on Friday. The stock’s fifty day moving average price is $111.21 and its two-hundred day moving average price is $110.05. The company has a market cap of $104.11 billion, a PE ratio of 12.65, a P/E/G ratio of 1.54 and a beta of 0.42. Newmont Corporation has a fifty-two week low of $54.14 and a fifty-two 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 posted its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. During the same period last year, the company posted $1.25 EPS. The firm’s quarterly revenue was up 45.8% compared to the same quarter last year. Equities analysts predict that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors 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 1.1%. Newmont’s dividend payout ratio (DPR) is 13.49%.

Insider Activity at Newmont

In related news, 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 sale, the insider directly owned 23,163 shares in the company, valued at $2,550,477.93. This trade represents a 9.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the sale, the chief executive officer owned 142,999 shares in the company, valued at approximately $15,060,654.68. This represents a 2.64% 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. Insiders have sold a total of 49,950 shares of company stock worth $5,494,288 over the last 90 days. 0.06% of the stock is currently owned by company insiders.

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.