Cromwell Holdings LLC Has $181,000 Stock Holdings in Newmont Corporation (NYSE:NEM)

Cromwell Holdings LLC grew its holdings in Newmont Corporation (NYSE:NEM) by 252.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,755 shares of the basic materials company’s stock after buying an additional 2,689 shares during the quarter. Cromwell Holdings LLC’s holdings in Newmont were worth $181,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. increased its position in shares of Newmont by 13.2% during the 1st quarter. Bessemer Group Inc. now owns 11,791 shares of the basic materials company’s stock worth $569,000 after purchasing an additional 1,379 shares in the last quarter. First Trust Advisors LP increased its position in shares of Newmont by 9.9% during the 4th quarter. First Trust Advisors LP now owns 96,040 shares of the basic materials company’s stock worth $3,575,000 after purchasing an additional 8,678 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Newmont during the 1st quarter worth about $423,000. Spire Wealth Management increased its position in shares of Newmont by 125.0% during the 1st quarter. Spire Wealth Management now owns 2,356 shares of the basic materials company’s stock worth $114,000 after purchasing an additional 1,309 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of Newmont by 773.7% during the 4th quarter. Teacher Retirement System of Texas now owns 67,461 shares of the basic materials company’s stock worth $2,511,000 after purchasing an additional 59,740 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $54.09, for a total transaction of $162,270.00. Following the transaction, the executive vice president owned 77,526 shares of the company’s stock, valued at $4,193,381.34. This trade represents a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $58.75, for a total transaction of $122,023.75. Following the transaction, the director directly owned 43,103 shares in the company, valued at $2,532,301.25. The trade was a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,231 shares of company stock worth $679,813 in the last three months. 0.05% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Newmont in a research report on Wednesday. They set a “buy” rating and a $73.00 target price for the company. Wall Street Zen upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. UBS Group raised their price objective on shares of Newmont from $60.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, July 3rd. Cfra Research upgraded shares of Newmont to a “strong-buy” rating in a research report on Friday, April 25th. Finally, Raymond James Financial restated an “outperform” rating and issued a $66.00 price objective on shares of Newmont in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.45.

Newmont Stock Up 1.7%

Shares of NYSE NEM opened at $59.78 on Friday. The firm has a market capitalization of $66.53 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 0.67 and a beta of 0.33. The company has a current ratio of 1.98, a quick ratio of 1.70 and a debt-to-equity ratio of 0.25. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $60.31. The firm’s 50-day moving average is $55.17 and its 200-day moving average is $48.76.

Newmont (NYSE:NEM) last issued its earnings results on Wednesday, April 23rd. The basic materials company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.54. The company had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.82 billion. Newmont had a net margin of 25.77% and a return on equity of 15.75%. During the same quarter last year, the firm earned $0.55 EPS. Equities analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, May 27th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.67%. The ex-dividend date was Tuesday, May 27th. Newmont’s payout ratio is 22.42%.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.