Krilogy Financial LLC Increases Stock Position in Newmont Corporation $NEM

Krilogy Financial LLC raised its holdings in Newmont Corporation (NYSE:NEM) by 37.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,368 shares of the basic materials company’s stock after purchasing an additional 5,827 shares during the period. Krilogy Financial LLC’s holdings in Newmont were worth $2,134,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of NEM. GoalVest Advisory LLC purchased a new position in shares of Newmont during the fourth quarter valued at approximately $25,000. Physician Wealth Advisors Inc. lifted its stake in shares of Newmont by 327.8% during the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after buying an additional 236 shares during the period. JPL Wealth Management LLC purchased a new position in shares of Newmont during the third quarter valued at approximately $27,000. Lodestone Wealth Management LLC purchased a new position in shares of Newmont during the fourth quarter valued at approximately $28,000. Finally, Rosenberg Matthew Hamilton lifted its stake in shares of 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 buying an additional 231 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Buying and Selling

In other Newmont news, insider David James Fry sold 18,394 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the transaction, the insider owned 17,147 shares of the company’s stock, valued at $1,911,033.15. This trade represents a 51.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $113.09, for a total transaction of $339,270.00. Following the transaction, the executive vice president directly owned 52,315 shares in the company, valued at approximately $5,916,303.35. This represents a 5.42% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 24,394 shares of company stock worth $2,713,281. 0.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NEM shares. BNP Paribas Exane upped their price objective on shares of Newmont from $123.00 to $128.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Bank of America upped their price objective on shares of Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Canaccord Genuity Group upped their price objective on shares of Newmont from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday. TD Cowen upped their price objective on shares of Newmont from $89.00 to $120.00 and gave the company a “hold” rating in a research note on Thursday, January 22nd. Finally, Zacks Research downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 3rd. Two equities research 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $133.91.

Newmont Stock Performance

NYSE:NEM opened at $114.91 on Tuesday. The company has a quick ratio of 2.02, a current ratio of 2.29 and a debt-to-equity ratio of 0.16. The company has a market cap of $124.09 billion, a P/E ratio of 17.98, a P/E/G ratio of 0.90 and a beta of 0.46. Newmont Corporation has a fifty-two week low of $48.27 and a fifty-two week high of $134.88. The firm’s 50 day moving average is $115.39 and its two-hundred day moving average is $104.19.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.71. The company had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.18 billion. Newmont had a net margin of 31.25% and a return on equity of 23.28%. Newmont’s revenue was up 20.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.40 earnings per share. Analysts expect that Newmont Corporation will post 8.83 EPS for the current year.

Newmont Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Tuesday, March 3rd were paid a dividend of $0.26 per share. This is an increase from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, March 3rd. Newmont’s payout ratio is 16.28%.

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.