Newmont Corporation $NEM Shares Purchased by Evolve Private Wealth LLC

Evolve Private Wealth LLC increased its stake in shares of Newmont Corporation (NYSE:NEM) by 70.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 17,661 shares of the basic materials company’s stock after purchasing an additional 7,285 shares during the period. Evolve Private Wealth LLC’s holdings in Newmont were worth $1,912,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Newmont by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company’s stock worth $13,390,613,000 after purchasing an additional 637,996 shares in the last quarter. State Street Corp grew its stake in shares of Newmont by 1.0% in the fourth quarter. State Street Corp now owns 49,959,850 shares of the basic materials company’s stock valued at $4,988,491,000 after buying an additional 480,223 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Newmont by 23.4% in the 4th 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 buying an additional 5,643,496 shares during the period. Geode Capital Management LLC raised its holdings in shares of Newmont by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company’s stock valued at $2,738,756,000 after buying an additional 946,824 shares during the period. Finally, Norges Bank acquired a new position in Newmont during the 4th quarter worth about $1,443,128,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on NEM shares. Canaccord Genuity Group raised their target price on Newmont from $150.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings cut shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Sanford C. Bernstein raised shares of Newmont from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $121.00 to $157.00 in a research note on Friday, February 27th. The Goldman Sachs Group dropped their price objective on shares of Newmont from $125.10 to $122.50 and set a “buy” rating for the company in a report on Thursday, June 4th. Finally, Macquarie Infrastructure cut their target price on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, June 15th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $140.98.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $315,960.00. Following the sale, the executive vice president directly owned 46,315 shares in the company, valued at approximately $4,877,895.80. This trade represents a 6.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of Newmont stock in a transaction 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 of the company’s stock, valued at approximately $7,472,615.15. This trade represents a 16.47% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 28,556 shares of company stock valued at $3,120,276 over the last quarter. Company insiders own 0.06% of the company’s stock.

Newmont Stock Performance

Shares of NEM opened at $101.78 on Tuesday. Newmont Corporation has a 1 year low of $55.37 and a 1 year high of $134.88. The stock has a market capitalization of $108.65 billion, a PE ratio of 13.20, a PEG ratio of 1.72 and a beta of 0.42. 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 stock has a 50-day simple moving average of $109.68 and a 200-day simple moving average of $110.77.

Newmont (NYSE:NEM) last released its earnings results 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 firm had revenue of $7.31 billion for 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%. The business’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 earnings per share. On average, analysts predict that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th were given a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. 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.