Newmont Corporation $NEM Shares Bought by Allstate Corp

Allstate Corp increased its holdings in Newmont Corporation (NYSE:NEM) by 98.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 84,975 shares of the basic materials company’s stock after buying an additional 42,089 shares during the quarter. Allstate Corp’s holdings in Newmont were worth $8,485,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Annis Gardner Whiting Capital Advisors LLC increased its stake in Newmont by 366.0% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,810 shares of the basic materials company’s stock worth $281,000 after buying an additional 2,207 shares in the last quarter. Fisher Asset Management LLC increased its stake in Newmont by 48.3% during the 4th quarter. Fisher Asset Management LLC now owns 7,612 shares of the basic materials company’s stock worth $760,000 after buying an additional 2,478 shares in the last quarter. Choate Investment Advisors purchased a new stake in Newmont during the 4th quarter worth approximately $5,084,000. CYBER HORNET ETFs LLC increased its stake in Newmont by 5.4% during the 4th quarter. CYBER HORNET ETFs LLC now owns 3,295 shares of the basic materials company’s stock worth $329,000 after buying an additional 170 shares in the last quarter. Finally, Clearstead Advisors LLC increased its stake in Newmont by 7.1% during the 4th quarter. Clearstead Advisors LLC now owns 33,339 shares of the basic materials company’s stock worth $3,329,000 after buying an additional 2,206 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insiders Place Their Bets

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 value of $252,812.56. Following the transaction, the insider directly owned 23,163 shares in the company, valued at approximately $2,550,477.93. This represents a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 James Fry sold 18,394 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the completion of the transaction, the insider owned 17,147 shares in the company, valued at $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 43,068 shares of company stock valued at $4,769,475. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on NEM shares. National Bank Financial boosted their price objective on Newmont from $130.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Friday, April 24th. Bank of America boosted their price objective on Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Royal Bank Of Canada upped their price target on Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. Jefferies Financial Group upped their price target on Newmont from $162.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, April 10th. Finally, TD Securities restated a “hold” rating and issued a $129.00 price target on shares of Newmont in a research report on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $142.05.

Newmont Price Performance

NEM stock opened at $111.49 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The business has a 50 day simple moving average of $110.94 and a 200-day simple moving average of $108.60. The firm has a market capitalization of $119.02 billion, a PE ratio of 14.46 and a beta of 0.43. Newmont Corporation has a 1 year low of $51.80 and a 1 year high of $134.88.

Newmont (NYSE:NEM) last posted its quarterly 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. The business had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business’s revenue was up 45.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.25 earnings per share. Equities research analysts anticipate that Newmont Corporation will post 9.47 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. Newmont’s dividend payout ratio 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.