Newmont Corporation $NEM Shares Purchased by Atlatl Advisers LLC

Atlatl Advisers LLC lifted its holdings in Newmont Corporation (NYSE:NEM) by 25.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,545 shares of the basic materials company’s stock after acquiring an additional 5,728 shares during the quarter. Newmont accounts for 1.1% of Atlatl Advisers LLC’s holdings, making the stock its 25th biggest position. Atlatl Advisers LLC’s holdings in Newmont were worth $2,850,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GoalVest Advisory LLC acquired a new stake in shares of Newmont in the fourth quarter worth $25,000. Physician Wealth Advisors Inc. boosted its holdings in Newmont by 327.8% during the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after buying an additional 236 shares in the last quarter. Cornerstone Planning Group LLC boosted its holdings in Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after buying an additional 206 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in Newmont during the third quarter worth $27,000. Finally, Lodestone Wealth Management LLC purchased a new stake in Newmont during the fourth quarter worth $28,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Citigroup increased their price target on shares of Newmont from $118.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. BNP Paribas Exane increased their price target on shares of Newmont from $123.00 to $128.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. Macquarie Infrastructure increased their price target on shares of Newmont from $130.00 to $133.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Canadian Imperial Bank of Commerce lowered their price target on shares of Newmont from $177.00 to $176.00 and set an “outperform” rating on the stock in a report on Tuesday, April 21st. Finally, Argus increased their price target on shares of Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.05.

Newmont Stock Performance

NYSE:NEM opened at $107.74 on Tuesday. 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 company has a fifty day moving average of $110.90 and a two-hundred day moving average of $108.39. The stock has a market capitalization of $115.02 billion, a PE ratio of 13.97, a P/E/G ratio of 1.54 and a beta of 0.43. Newmont Corporation has a fifty-two week low of $51.80 and a fifty-two 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 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. The company 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 firm’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 earnings per share. As a group, research analysts forecast that Newmont Corporation will post 9.47 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be given 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 currently 13.49%.

Insider Activity at Newmont

In other Newmont news, EVP Peter Wexler sold 13,378 shares of the company’s stock in a transaction 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 completion of the transaction, 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 ownership of the stock. 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, insider David John Thornton sold 2,296 shares of the company’s stock in a transaction 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 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 disclosure for this sale is available in the SEC filing. 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 ninety days, insiders have sold 43,068 shares of company stock valued at $4,769,475. Insiders own 0.06% of the company’s stock.

About Newmont

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.