Williamson Legacy Group LLC Makes New $2.79 Million Investment in Newmont Corporation $NEM

Williamson Legacy Group LLC purchased a new position in shares of Newmont Corporation (NYSE:NEM) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 27,966 shares of the basic materials company’s stock, valued at approximately $2,792,000. Newmont accounts for about 2.2% of Williamson Legacy Group LLC’s portfolio, making the stock its 6th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. GoalVest Advisory LLC bought a new stake in Newmont during the fourth quarter worth about $25,000. Physician Wealth Advisors Inc. lifted its stake in shares of Newmont by 327.8% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 236 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 206 shares during the last quarter. JPL Wealth Management LLC bought a new stake in shares of Newmont in the 3rd quarter valued at about $27,000. Finally, Lodestone Wealth Management LLC bought a new stake in shares of Newmont in the 4th quarter valued at about $28,000. Institutional investors own 68.85% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Peter Wexler sold 13,378 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president owned 67,865 shares in the company, valued at $7,472,615.15. The trade was a 16.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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. Also, insider David James Fry sold 18,394 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $111.45, for a total value of $2,050,011.30. Following the transaction, the insider owned 17,147 shares in the company, valued at $1,911,033.15. This trade represents a 51.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 43,068 shares of company stock worth $4,769,475 in the last quarter. 0.06% of the stock is currently owned by company insiders.

Newmont Stock Up 3.6%

Shares of NYSE:NEM opened at $111.49 on Wednesday. Newmont Corporation has a 1 year low of $51.80 and a 1 year high of $134.88. The company has a market cap of $119.02 billion, a PE ratio of 14.46 and a beta of 0.43. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The stock’s 50-day moving average is $110.94 and its 200 day moving average is $108.60.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter in the previous year, the business earned $1.25 EPS. Newmont’s revenue was up 45.8% compared to the same quarter last year. Sell-side analysts anticipate that Newmont Corporation will post 9.47 EPS for the current year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors 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 0.9%. The ex-dividend date is Wednesday, May 27th. Newmont’s payout ratio is currently 13.49%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NEM. BNP Paribas Exane boosted their target price on Newmont from $123.00 to $128.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Canaccord Genuity Group boosted their target price on Newmont from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Wall Street Zen raised Newmont from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. BMO Capital Markets boosted their target price on Newmont from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, Barclays began coverage on Newmont in a research note on Thursday, May 21st. They issued an “overweight” rating and a $133.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.05.

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.