4D Advisors LLC Sells 25,000 Shares of Newmont Corporation $NEM

4D Advisors LLC reduced its stake in Newmont Corporation (NYSE:NEM) by 33.3% during the 4th quarter, Holdings Channel reports. The fund owned 50,000 shares of the basic materials company’s stock after selling 25,000 shares during the period. Newmont makes up about 2.7% of 4D Advisors LLC’s investment portfolio, making the stock its 13th largest position. 4D Advisors LLC’s holdings in Newmont were worth $4,992,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of NEM. Norges Bank acquired a new position in shares of Newmont during the 4th quarter worth approximately $1,443,128,000. Van ECK Associates Corp grew its position in shares of Newmont by 23.4% during the 4th quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock worth $2,973,539,000 after purchasing an additional 5,643,496 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Newmont by 110.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,743,228 shares of the basic materials company’s stock worth $873,011,000 after purchasing an additional 4,588,018 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Newmont by 82.5% during the 4th quarter. AQR Capital Management LLC now owns 7,402,278 shares of the basic materials company’s stock worth $739,117,000 after purchasing an additional 3,345,543 shares in the last quarter. Finally, Assetmark Inc. grew its position in shares of Newmont by 398.3% during the 4th quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock worth $286,619,000 after purchasing an additional 2,294,396 shares in the last quarter. 68.85% of the stock is owned by institutional investors.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 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 $315,960.00. Following the completion of the transaction, the executive vice president directly owned 46,315 shares in the company, valued at $4,877,895.80. This trade represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $252,812.56. Following the transaction, the insider owned 23,163 shares of the company’s stock, valued at $2,550,477.93. This represents a 9.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders have sold 28,556 shares of company stock valued at $3,120,276 over the last three months. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NEM shares. Macquarie Infrastructure decreased their target price on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday. TD Securities restated a “hold” rating and set a $129.00 target price on shares of Newmont in a research report on Monday, April 27th. Canadian Imperial Bank of Commerce set a $175.00 target price on shares of Newmont and gave the stock an “outperform” rating in a research report on Monday, June 1st. Citigroup increased their target price on shares of Newmont from $118.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Finally, TD Cowen restated a “buy” rating on shares of Newmont in a research report on Monday, April 27th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and an average price target of $141.79.

Newmont News Roundup

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Zacks upgraded Newmont from hold to strong-buy, reinforcing a more optimistic view on the stock’s near-term prospects.
• Positive Sentiment: Wall Street’s average price target implies about 30% upside, with analysts also pointing to rising earnings estimates as a supportive signal for the shares. Article: Does Newmont (NEM) Have the Potential to Rally 30.14% as Wall Street Analysts Expect?
• Positive Sentiment: Newmont announced a leadership reshuffle, naming new CFO, COO, and CTO appointments effective July 1, which investors may see as a move to sharpen execution under CEO Natascha Viljoen.
• Positive Sentiment: Several recent articles highlight Newmont as a value or buy idea and note that the company remains well positioned if gold prices rebound, which is supportive for a gold miner.
• Neutral Sentiment: Other coverage focused on comparison pieces and broad investor interest, but these are less likely to move the stock on their own.

Newmont Price Performance

Shares of NYSE NEM opened at $105.55 on Thursday. Newmont Corporation has a twelve month low of $55.37 and a twelve month high of $134.88. The firm has a fifty day simple moving average of $110.52 and a 200 day simple moving average of $110.51. The company has a market capitalization of $112.68 billion, a PE ratio of 13.69, a P/E/G ratio of 1.80 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 posted its quarterly 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. The business had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The business’s quarterly revenue was up 45.8% on a year-over-year basis. During the same period last year, the company posted $1.25 earnings per share. On average, sell-side analysts forecast that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be issued 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 (DPR) is currently 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.