Lmcg Investments LLC Sells 7,799 Shares of Newmont Corporation $NEM

Lmcg Investments LLC lowered its position in Newmont Corporation (NYSE:NEM) by 24.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,764 shares of the basic materials company’s stock after selling 7,799 shares during the quarter. Lmcg Investments LLC’s holdings in Newmont were worth $2,373,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Apella Capital LLC lifted its position in shares of Newmont by 4.1% in the 4th quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock worth $219,000 after acquiring an additional 86 shares during the period. New Wave Wealth Advisors LLC lifted its position in shares of Newmont by 1.3% in the 4th quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock worth $684,000 after acquiring an additional 88 shares during the period. Novem Group lifted its position in shares of Newmont by 3.7% in the 4th quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock worth $248,000 after acquiring an additional 88 shares during the period. Norden Group LLC lifted its position in shares of Newmont by 0.7% in the 4th quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock worth $1,235,000 after acquiring an additional 90 shares during the period. Finally, Avidian Wealth Enterprises LLC lifted its position in shares of Newmont by 1.2% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 9,240 shares of the basic materials company’s stock worth $923,000 after acquiring an additional 110 shares during the period. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Newmont stock opened at $113.38 on Friday. 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 company has a market capitalization of $121.03 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 1.64 and a beta of 0.43. Newmont Corporation has a one year low of $48.27 and a one year high of $134.88. The business has a 50 day simple moving average of $112.91 and a 200 day simple moving average of $105.96.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.07 by $0.83. The business had revenue of $7.31 billion during 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 revenue was up 45.8% on a year-over-year basis. During the same quarter last year, the company earned $1.25 EPS. On average, sell-side analysts forecast that Newmont Corporation will post 9.5 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be given a $0.26 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 0.9%. Newmont’s payout ratio is presently 13.49%.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Friday, May 1st. The stock was 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 owned 49,315 shares in the company, valued at approximately $5,430,074.65. The trade was a 5.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the transaction, the insider owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. The trade was a 9.02% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 43,068 shares of company stock worth $4,769,475. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on NEM shares. TD raised their price objective on Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. Stifel Nicolaus raised their price objective on Newmont from $120.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Wall Street Zen raised Newmont from a “hold” rating to a “buy” rating in a report on Saturday, April 25th. Bank of America raised their target price on Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 3rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.51.

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.