Newmont Corporation $NEM Shares Sold by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. lessened its position in shares of Newmont Corporation (NYSE:NEM) by 18.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,981 shares of the basic materials company’s stock after selling 5,062 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Newmont were worth $2,195,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in NEM. Brighton Jones LLC lifted its position in Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after buying an additional 1,847 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of Newmont by 40.7% in the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock worth $4,644,000 after acquiring an additional 27,813 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Newmont during the 2nd quarter worth approximately $240,000. Cerity Partners LLC increased its holdings in Newmont by 108.9% in the 2nd quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock valued at $7,303,000 after purchasing an additional 65,342 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in Newmont by 8.5% in the second quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock valued at $2,854,000 after purchasing an additional 3,856 shares during the period. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NEM has been the subject of a number of research reports. Macquarie Infrastructure lifted their price objective on Newmont from $126.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, March 27th. TD cut their price target on shares of Newmont from $118.00 to $116.00 and set a “hold” rating on the stock in a research note on Tuesday. Jefferies Financial Group raised their price objective on shares of Newmont from $162.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Wall Street Zen downgraded shares of Newmont from a “buy” rating to a “hold” rating in a research note on Saturday, April 4th. Finally, National Bank Financial set a $130.00 price target on shares of Newmont and gave the company a “sector perform” rating in a research report on Thursday, April 16th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Newmont has an average rating of “Moderate Buy” and an average target price of $138.26.

Insider Buying and Selling

In other Newmont news, insider David James Fry sold 18,394 shares of the stock in a transaction on 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 transaction, the insider owned 17,147 shares of the company’s stock, valued at $1,911,033.15. This represents a 51.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $113.09, for a total value of $339,270.00. Following the completion of the sale, the executive vice president directly owned 52,315 shares in the company, valued at approximately $5,916,303.35. The trade was a 5.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 24,394 shares of company stock valued at $2,713,281. Company insiders own 0.06% of the company’s stock.

Newmont Price Performance

Newmont stock opened at $110.70 on Thursday. The company has a current ratio of 2.29, a quick ratio of 2.02 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $114.89 and a 200-day simple moving average of $104.40. 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 $119.55 billion, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 0.84 and a beta of 0.46.

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

Newmont Increases Dividend

The company 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. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. This is a boost from Newmont’s previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, March 3rd. Newmont’s payout ratio is presently 16.28%.

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.