Severin Investments LLC Has $1.11 Million Stock Holdings in Newmont Corporation $NEM

Severin Investments LLC increased its holdings in shares of Newmont Corporation (NYSE:NEM) by 76.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 11,086 shares of the basic materials company’s stock after purchasing an additional 4,818 shares during the period. Newmont makes up approximately 1.0% of Severin Investments LLC’s holdings, making the stock its 20th largest position. Severin Investments LLC’s holdings in Newmont were worth $1,107,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Newmont by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company’s stock worth $13,390,613,000 after purchasing an additional 637,996 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Newmont by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company’s stock worth $2,738,756,000 after buying an additional 946,824 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Newmont by 9.6% in the 3rd quarter. Legal & General Group Plc now owns 8,156,669 shares of the basic materials company’s stock worth $687,223,000 after buying an additional 711,940 shares in the last quarter. Boston Partners raised its holdings in shares of Newmont by 49.3% in the 3rd quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock worth $585,828,000 after buying an additional 2,288,653 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of Newmont by 16.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,996,775 shares of the basic materials company’s stock worth $498,928,000 after buying an additional 692,560 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Insiders Place Their Bets

In other Newmont news, insider David John Thornton sold 2,296 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 transaction of $252,812.56. Following the transaction, the insider owned 23,163 shares of the company’s stock, valued at $2,550,477.93. The trade was a 9.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $330,330.00. Following the completion of the transaction, the executive vice president directly owned 49,315 shares in the company, valued at $5,430,074.65. The trade was a 5.73% 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. Insiders sold 43,068 shares of company stock worth $4,769,475 in the last three months. 0.06% of the stock is owned by corporate insiders.

Newmont Price Performance

NYSE:NEM opened at $107.17 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The stock’s 50-day simple moving average is $110.88 and its 200 day simple moving average is $108.78. The company has a market cap of $114.41 billion, a P/E ratio of 13.90 and a beta of 0.43. Newmont Corporation has a 52-week low of $51.80 and a 52-week high of $134.88.

Newmont (NYSE:NEM) last released its 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. The business had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.Newmont’s quarterly revenue was up 45.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 earnings per share. As a group, sell-side analysts forecast that Newmont Corporation will post 9.72 EPS for the current fiscal year.

Newmont Dividend Announcement

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

Analyst Ratings Changes

NEM has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their price target on Newmont from $123.20 to $125.10 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Stifel Nicolaus increased their price objective on Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. TD increased their price target on Newmont from $116.00 to $129.00 and gave the company a “hold” rating in a research note on Monday, April 27th. Canaccord Genuity Group increased their price target on Newmont from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Bank of America raised their price objective on Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.53.

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.