Newmont Corporation $NEM Stake Trimmed by West Michigan Advisors LLC

West Michigan Advisors LLC lowered its stake in Newmont Corporation (NYSE:NEM) by 32.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,015 shares of the basic materials company’s stock after selling 19,075 shares during the quarter. Newmont makes up 0.9% of West Michigan Advisors LLC’s investment portfolio, making the stock its 19th largest holding. West Michigan Advisors LLC’s holdings in Newmont were worth $3,995,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. HB Wealth Management LLC increased its stake in Newmont by 14.3% in the 4th quarter. HB Wealth Management LLC now owns 38,367 shares of the basic materials company’s stock worth $3,831,000 after purchasing an additional 4,808 shares in the last quarter. Caprock Group LLC increased its stake in Newmont by 18.2% in the 4th quarter. Caprock Group LLC now owns 81,938 shares of the basic materials company’s stock worth $8,182,000 after purchasing an additional 12,619 shares in the last quarter. KLP Kapitalforvaltning AS increased its stake in Newmont by 1.4% in the 4th quarter. KLP Kapitalforvaltning AS now owns 567,881 shares of the basic materials company’s stock worth $56,703,000 after purchasing an additional 7,800 shares in the last quarter. Quaker Wealth Management LLC increased its stake in Newmont by 3,253.1% in the 4th quarter. Quaker Wealth Management LLC now owns 1,073 shares of the basic materials company’s stock worth $107,000 after purchasing an additional 1,041 shares in the last quarter. Finally, Optas LLC increased its stake in Newmont by 8.0% in the 4th quarter. Optas LLC now owns 3,890 shares of the basic materials company’s stock worth $388,000 after purchasing an additional 289 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. TD Cowen dropped their price target on Newmont from $118.00 to $116.00 and set a “hold” rating on the stock in a research note on Tuesday. Macquarie Infrastructure lifted their price target on Newmont from $126.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, March 27th. BNP Paribas Exane lifted their price target on Newmont from $123.00 to $128.00 and gave the company a “neutral” rating in a report on Monday, March 2nd. Scotiabank lowered their price target on Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a report on Friday, March 20th. Finally, Royal Bank Of Canada lifted their price target on Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.26.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were 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 $5,916,303.35. The trade was a 5.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David James Fry sold 18,394 shares of the business’s stock in a transaction 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 in the company, valued at approximately $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 24,394 shares of company stock worth $2,713,281. 0.06% of the stock is currently owned by corporate insiders.

Newmont Trading Up 2.4%

Newmont stock opened at $111.87 on Thursday. The company’s fifty day simple moving average is $114.89 and its 200-day simple moving average is $104.40. The company has a quick ratio of 2.02, a current ratio of 2.29 and a debt-to-equity ratio of 0.16. Newmont Corporation has a 12 month low of $48.27 and a 12 month high of $134.88. The stock has a market cap of $120.82 billion, a P/E ratio of 17.51, a P/E/G ratio of 0.84 and a beta of 0.46.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 19th. The basic materials company reported $2.52 EPS for the quarter, beating the consensus estimate of $1.81 by $0.71. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.18 billion. During the same period in the previous year, the company posted $1.40 EPS. Newmont’s revenue was up 20.6% on a year-over-year basis. As a group, sell-side analysts forecast that Newmont Corporation will post 8.83 EPS for the current fiscal year.

Newmont Increases Dividend

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