Newmont Corporation $NEM Shares Sold by Alps Advisors Inc.

Alps Advisors Inc. trimmed its position in shares of Newmont Corporation (NYSE:NEM) by 41.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 563,546 shares of the basic materials company’s stock after selling 397,967 shares during the period. Newmont makes up 0.3% of Alps Advisors Inc.’s portfolio, making the stock its 27th biggest position. Alps Advisors Inc.’s holdings in Newmont were worth $56,270,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. GoalVest Advisory LLC acquired a new stake in Newmont during the 4th quarter valued at $25,000. Cornerstone Planning Group LLC grew its holdings in Newmont by 312.1% during the 4th 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 in the last quarter. Lodestone Wealth Management LLC acquired a new stake in Newmont during the 4th quarter valued at $28,000. Laurel Wealth Advisors LLC acquired a new stake in Newmont during the 4th quarter valued at $30,000. Finally, Rosenberg Matthew Hamilton grew its holdings in Newmont by 308.0% during the 4th quarter. Rosenberg Matthew Hamilton now owns 306 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 231 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. TD raised their price objective on shares of Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a report on Monday, April 27th. Sanford C. Bernstein raised shares of Newmont from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $121.00 to $157.00 in a report on Friday, February 27th. Scotiabank decreased their price objective on shares of Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a report on Friday, March 20th. Bank of America raised their price objective on shares of Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Finally, BNP Paribas Exane raised their price objective on shares of Newmont from $123.00 to $128.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. Two equities research 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $142.26.

Insiders Place Their Bets

In related news, insider David James Fry sold 18,394 shares of Newmont stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $111.45, for a total value 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 trade represents a 51.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $408,852.24. Following the completion of 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. In the last three months, insiders sold 49,950 shares of company stock worth $5,494,288. Corporate insiders own 0.06% of the company’s stock.

Newmont Trading Up 5.1%

NYSE NEM opened at $97.52 on Friday. Newmont Corporation has a one year low of $54.14 and a one year high of $134.88. The company has a 50-day simple moving average of $111.21 and a 200-day simple moving average of $110.05. 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 firm has a market capitalization of $104.11 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 1.54 and a beta of 0.42.

Newmont (NYSE:NEM) last posted 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 during the quarter, compared to analyst estimates of $6.83 billion. During the same period in the previous year, the business posted $1.25 EPS. The company’s quarterly revenue was up 45.8% on a year-over-year basis. On average, equities analysts forecast that Newmont Corporation will post 9.91 earnings per share for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be issued a $0.26 dividend. 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 payout ratio 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.