Harmony Asset Management LLC Purchases New Position in Newmont Corporation $NEM

Harmony Asset Management LLC purchased a new stake in shares of Newmont Corporation (NYSE:NEM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 13,745 shares of the basic materials company’s stock, valued at approximately $1,372,000.

Several other institutional investors also recently bought and sold shares of NEM. GoalVest Advisory LLC purchased a new stake in shares of Newmont in the fourth quarter valued at approximately $25,000. Physician Wealth Advisors Inc. increased its position in shares of Newmont by 327.8% in the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after buying an additional 236 shares in the last quarter. Cornerstone Planning Group LLC increased its position in shares of Newmont by 312.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after buying an additional 206 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Newmont in the third quarter valued at approximately $27,000. Finally, Lodestone Wealth Management LLC purchased a new stake in shares of Newmont in the fourth quarter valued at approximately $28,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Argus boosted their price objective on Newmont from $94.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Sanford C. Bernstein upgraded Newmont from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $121.00 to $157.00 in a research report on Friday, February 27th. Macquarie Infrastructure boosted their price objective on Newmont from $130.00 to $133.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. National Bank Financial boosted their price objective on Newmont from $130.00 to $140.00 and gave the company a “sector perform” rating in a research report on Friday, April 24th. Finally, BNP Paribas Exane boosted their price objective on Newmont from $123.00 to $128.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and an average target price of $142.51.

Newmont Stock Up 2.2%

Shares of NEM opened at $107.36 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. Newmont Corporation has a one year low of $51.80 and a one year high of $134.88. The stock has a market capitalization of $114.61 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 1.50 and a beta of 0.43. The stock has a 50 day moving average price of $111.41 and a 200 day moving average price of $107.81.

Newmont (NYSE:NEM) last issued its quarterly 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. 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 analysts’ expectations of $6.83 billion. During the same period in the previous year, the business earned $1.25 earnings per share. The firm’s revenue for the quarter was up 45.8% on a year-over-year basis. Equities research analysts forecast that Newmont Corporation will post 9.47 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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

Insider Transactions at Newmont

In related news, EVP Peter Wexler sold 13,378 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 $1,473,051.58. Following the completion of the sale, the executive vice president directly owned 67,865 shares in the company, valued at approximately $7,472,615.15. The trade was a 16.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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, 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 value of $252,812.56. Following the sale, 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 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 a total of 43,068 shares of company stock valued at $4,769,475 over the last ninety days. Company insiders own 0.06% of the company’s stock.

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.