KCM Investment Advisors LLC Raises Stock Position in Newmont Corporation $NEM

KCM Investment Advisors LLC grew its holdings in Newmont Corporation (NYSE:NEM) by 37.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,813 shares of the basic materials company’s stock after buying an additional 5,623 shares during the period. KCM Investment Advisors LLC’s holdings in Newmont were worth $2,078,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in NEM. GoalVest Advisory LLC purchased a new position in shares of Newmont during the 4th quarter worth about $25,000. Swiss RE Ltd. purchased a new position in shares of Newmont during the 4th quarter worth about $26,000. Cornerstone Planning Group LLC boosted its stake in shares of Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 206 shares during the period. JPL Wealth Management LLC purchased a new position in shares of Newmont during the 3rd quarter worth about $27,000. Finally, Lodestone Wealth Management LLC purchased a new stake in Newmont in the 4th quarter valued at about $28,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

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 firm has a market cap of $106.86 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 1.66 and a beta of 0.42. The company has a 50 day moving average price of $110.94 and a 200 day moving average price of $110.14. Newmont Corporation has a 52 week low of $55.37 and a 52 week high of $134.88.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.07 by $0.83. The firm had revenue of $7.31 billion during 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%. Newmont’s revenue was up 45.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.25 EPS. As a group, sell-side analysts forecast that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Dividend Announcement

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

Insider Activity at Newmont

In other Newmont news, 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 transaction of $408,852.24. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of the company’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 $1,473,051.58. Following the transaction, the executive vice president owned 67,865 shares in the company, valued at $7,472,615.15. The trade was a 16.47% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 31,556 shares of company stock worth $3,444,276. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

NEM has been the subject of several research reports. Canadian Imperial Bank of Commerce set a $175.00 price objective on shares of Newmont and gave the company an “outperform” rating in a research report on Monday, June 1st. National Bank Financial boosted their price target on shares of Newmont from $130.00 to $140.00 and gave the company a “sector perform” rating in a report on Friday, April 24th. Citigroup boosted their price target on shares of Newmont from $118.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. UBS Group reduced their price target on shares of Newmont from $150.00 to $140.00 and set a “buy” rating for the company in a report on Friday, March 27th. Finally, Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Friday, April 3rd. Two 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. According to data from MarketBeat, Newmont presently has an average rating of “Moderate Buy” and an average price target of $142.26.

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.