Seaview Investment Managers LLC Acquires Shares of 79,505 Newmont Corporation $NEM

Seaview Investment Managers LLC purchased a new position in shares of Newmont Corporation (NYSE:NEM) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 79,505 shares of the basic materials company’s stock, valued at approximately $7,939,000. Newmont comprises 3.0% of Seaview Investment Managers LLC’s investment portfolio, making the stock its 23rd biggest position.

Several other hedge funds also recently modified their holdings of the business. GoalVest Advisory LLC bought a new stake in Newmont in the 4th quarter valued at $25,000. Physician Wealth Advisors Inc. lifted its holdings in shares of Newmont by 327.8% during the 3rd 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 period. Cornerstone Planning Group LLC lifted its holdings in shares of Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 206 shares during the period. JPL Wealth Management LLC bought a new position in Newmont during the 3rd quarter valued at about $27,000. Finally, Lodestone Wealth Management LLC bought a new position in Newmont during the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on NEM. Canaccord Genuity Group raised their price objective on shares of Newmont from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. National Bank Financial lifted their price objective on shares of Newmont from $130.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Friday, April 24th. UBS Group cut their price target on shares of Newmont from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. Wall Street Zen raised shares of Newmont from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Finally, The Goldman Sachs Group boosted their price objective on shares of Newmont from $123.20 to $125.10 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.05.

Insiders Place Their Bets

In other news, insider David James Fry sold 18,394 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the transaction, the insider owned 17,147 shares of the company’s stock, valued at approximately $1,911,033.15. The trade was a 51.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter Wexler sold 13,378 shares of the business’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 $1,473,051.58. Following the completion of the sale, the executive vice president owned 67,865 shares of the company’s stock, valued at $7,472,615.15. The trade was a 16.47% decrease in their position. The SEC filing for this sale provides additional information. 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 sold a total of 43,068 shares of company stock worth $4,769,475 over the last three months. Company insiders own 0.06% of the company’s stock.

Newmont Stock Up 0.1%

Shares of NYSE NEM opened at $107.74 on Tuesday. The firm has a market cap of $115.02 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 1.54 and a beta of 0.43. The company has a 50 day simple moving average of $110.90 and a 200 day simple moving average of $108.39. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. 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 the consensus estimate of $2.07 by $0.83. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter last year, the firm posted $1.25 EPS. Newmont’s revenue was up 45.8% compared to the same quarter last year. On average, research analysts forecast that Newmont Corporation will post 9.47 EPS for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s payout ratio is presently 13.49%.

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.