VCI Wealth Management LLC Invests $1.02 Million in Newmont Corporation $NEM

VCI Wealth Management LLC bought a new stake in Newmont Corporation (NYSE:NEM) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 9,382 shares of the basic materials company’s stock, valued at approximately $1,016,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Drum Hill Capital LLC lifted its stake in shares of Newmont by 2.9% during the first quarter. Drum Hill Capital LLC now owns 80,460 shares of the basic materials company’s stock worth $8,710,000 after purchasing an additional 2,232 shares in the last quarter. Aaron Wealth Advisors LLC boosted its position in shares of Newmont by 1.6% in the first quarter. Aaron Wealth Advisors LLC now owns 11,451 shares of the basic materials company’s stock worth $1,240,000 after buying an additional 183 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of Newmont during the first quarter worth $6,019,000. Fiduciary Alliance LLC purchased a new stake in Newmont during the 1st quarter worth $277,000. Finally, Park Edge Advisors LLC acquired a new position in Newmont in the 1st quarter worth $1,104,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Ratings Changes

NEM has been the subject of a number of analyst reports. The Goldman Sachs Group reduced their price target on Newmont from $125.10 to $122.50 and set a “buy” rating for the company in a report on Thursday, June 4th. Zacks Research raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 15th. Macquarie Infrastructure dropped their target price on Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday, June 15th. TD Cowen restated a “buy” rating on shares of Newmont in a research note on Monday, April 27th. Finally, Canadian Imperial Bank of Commerce set a $175.00 price objective on shares of Newmont and gave the company an “outperform” rating in a research note on Monday, June 1st. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $140.50.

Newmont Stock Up 0.8%

NEM opened at $96.09 on Friday. The company has a market capitalization of $102.58 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 1.58 and a beta of 0.42. The business has a 50-day moving average of $107.94 and a 200-day moving average of $110.78. 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 fifty-two week low of $55.37 and a fifty-two week high of $134.88.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same period in the previous year, the company earned $1.25 EPS. The company’s revenue for the quarter was up 45.8% on a year-over-year basis. Equities research analysts forecast that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Wednesday, May 27th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. Newmont’s payout ratio is 13.49%.

Insider Activity at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total transaction of $315,960.00. Following the completion of the transaction, the executive vice president owned 46,315 shares of the company’s stock, valued at approximately $4,877,895.80. This represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of Newmont stock in a transaction dated 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 sale, the executive vice president directly owned 67,865 shares in the company, valued at approximately $7,472,615.15. This trade represents a 16.47% decrease in their ownership of the stock. 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 have sold 28,556 shares of company stock valued at $3,120,276 in the last 90 days. 0.06% of the stock is owned by company insiders.

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.