Newmont Corporation $NEM Position Trimmed by Elevated Capital Advisors LLC

Elevated Capital Advisors LLC decreased its holdings in Newmont Corporation (NYSE:NEM) by 32.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,384 shares of the basic materials company’s stock after selling 5,465 shares during the period. Elevated Capital Advisors LLC’s holdings in Newmont were worth $1,137,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. GoalVest Advisory LLC acquired a new stake in shares of Newmont during the 4th quarter valued at $25,000. Physician Wealth Advisors Inc. increased its stake in shares of Newmont by 327.8% in the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 236 shares during the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Newmont during the third quarter worth $27,000. Lodestone Wealth Management LLC purchased a new stake in shares of Newmont during the fourth quarter worth $28,000. Finally, Rosenberg Matthew Hamilton boosted its position in Newmont by 308.0% during the fourth quarter. Rosenberg Matthew Hamilton now owns 306 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 231 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $113.09, for a total transaction of $339,270.00. Following the completion of the sale, the executive vice president directly owned 52,315 shares in the company, valued at $5,916,303.35. This represents a 5.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David James Fry sold 18,394 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 17,147 shares in the company, valued at approximately $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 24,394 shares of company stock valued at $2,713,281. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on NEM shares. Bank of America boosted their target price on Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Jefferies Financial Group lifted their price target on Newmont from $162.00 to $165.00 and gave the company a “buy” rating in a report on Friday, April 10th. Macquarie Infrastructure boosted their price target on Newmont from $126.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, March 27th. DZ Bank raised shares of Newmont to a “strong-buy” rating in a research report on Monday, January 19th. Finally, Canadian Imperial Bank of Commerce reduced their target price on shares of Newmont from $71.00 to $67.00 in a research note on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and an average target price of $133.91.

Newmont Stock Up 2.7%

NEM opened at $116.50 on Friday. The firm has a market cap of $125.81 billion, a P/E ratio of 18.23, a price-to-earnings-growth ratio of 0.87 and a beta of 0.46. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.02 and a current ratio of 2.29. The business has a 50 day moving average price of $115.51 and a 200 day moving average price of $103.86. Newmont Corporation has a twelve month low of $48.27 and a twelve month high of $134.88.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, February 19th. The basic materials company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.71. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.18 billion. During the same quarter last year, the firm posted $1.40 earnings per share. The company’s quarterly revenue was up 20.6% compared to the same quarter last year. Research analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Tuesday, March 3rd were issued a $0.26 dividend. This is a boost from Newmont’s previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, March 3rd. This represents a $1.04 annualized dividend and a yield of 0.9%. Newmont’s payout ratio is 16.28%.

Newmont 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.