Entropy Technologies LP Purchases New Holdings in Newmont Corporation $NEM

Entropy Technologies LP purchased a new stake in Newmont Corporation (NYSE:NEM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,105 shares of the basic materials company’s stock, valued at approximately $3,705,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NEM. Norges Bank purchased a new position in Newmont in the fourth quarter valued at about $1,443,128,000. Van ECK Associates Corp boosted its holdings in Newmont by 23.4% in the fourth quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock valued at $2,973,539,000 after purchasing an additional 5,643,496 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Newmont by 110.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,743,228 shares of the basic materials company’s stock valued at $873,011,000 after purchasing an additional 4,588,018 shares during the last quarter. Assetmark Inc. boosted its holdings in Newmont by 398.3% in the fourth quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock valued at $286,619,000 after purchasing an additional 2,294,396 shares during the last quarter. Finally, Boston Partners boosted its holdings in Newmont by 49.3% in the third quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock valued at $585,828,000 after purchasing an additional 2,288,653 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Trading Down 0.1%

NYSE:NEM opened at $100.10 on Monday. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. 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 company has a market cap of $106.86 billion, a PE ratio of 12.98, a P/E/G ratio of 1.66 and a beta of 0.42.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping 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 the consensus estimate of $6.83 billion. During the same quarter last year, the business posted $1.25 EPS. Newmont’s quarterly revenue was up 45.8% compared to the same quarter last year. On average, analysts predict that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NEM shares. Bank of America increased their price target on Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Canaccord Genuity Group increased their target price on Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Royal Bank Of Canada reduced their target price on Newmont from $160.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, June 3rd. BMO Capital Markets increased their target price on Newmont from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Finally, Jefferies Financial Group increased their target price on Newmont from $154.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.26.

Insider Buying and Selling

In other news, EVP Peter Wexler sold 13,378 shares of the 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 $1,473,051.58. Following the sale, the executive vice president directly owned 67,865 shares in the company, valued at approximately $7,472,615.15. This represents a 16.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the sale, the chief executive officer owned 142,999 shares in the company, valued at $15,060,654.68. The trade was 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 31,556 shares of company stock valued at $3,444,276 over the last quarter. Company insiders own 0.06% of the company’s stock.

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.