Clear Street Group Inc. Makes New $1.63 Million Investment in Newmont Corporation $NEM

Clear Street Group Inc. purchased a new position 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 purchased 16,367 shares of the basic materials company’s stock, valued at approximately $1,634,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GoalVest Advisory LLC purchased a new position in Newmont in the 4th quarter worth approximately $25,000. Swiss RE Ltd. purchased a new position in Newmont in the 4th quarter worth approximately $26,000. Cornerstone Planning Group LLC boosted its holdings in Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 206 shares during the period. Lodestone Wealth Management LLC purchased a new position in Newmont in the 4th quarter worth approximately $28,000. Finally, Laurel Wealth Advisors LLC purchased a new position in Newmont in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NEM opened at $100.10 on Monday. The business’s 50 day moving average is $110.94 and its two-hundred day moving average is $110.14. Newmont Corporation has a 52-week low of $55.37 and a 52-week high of $134.88. The firm has a market cap of $106.86 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 1.66 and a beta of 0.42. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same period in the prior year, the company posted $1.25 EPS. Newmont’s quarterly revenue was up 45.8% on a year-over-year basis. Analysts forecast that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s dividend payout ratio is currently 13.49%.

Analyst Upgrades and Downgrades

NEM has been the subject of a number of analyst reports. Wall Street Zen cut Newmont from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. The Goldman Sachs Group decreased their price target on Newmont from $125.10 to $122.50 and set a “buy” rating for the company in a report on Thursday, June 4th. Canaccord Genuity Group upped their price target on Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. TD upped their price target on Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a report on Monday, April 27th. Finally, Scotiabank decreased their price target on Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a report on Friday, March 20th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.26.

Insider Transactions at Newmont

In related news, insider David John Thornton sold 2,296 shares of the company’s stock in a transaction that occurred on 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 directly owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. This represents a 9.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $408,852.24. Following the sale, the chief executive officer directly 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. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 31,556 shares of company stock valued at $3,444,276. 0.06% of the stock is currently owned by 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.