50,916 Shares in Newmont Corporation $NEM Acquired by Choate Investment Advisors

Choate Investment Advisors acquired a new position in shares of Newmont Corporation (NYSE:NEM) in the 4th quarter, Holdings Channel.com reports. The fund acquired 50,916 shares of the basic materials company’s stock, valued at approximately $5,084,000.

Other institutional investors have also recently modified their holdings of the company. GoalVest Advisory LLC acquired a new position in shares of Newmont during the 4th quarter worth approximately $25,000. Cornerstone Planning Group LLC raised its position in shares of Newmont by 312.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 206 shares during the last quarter. Lodestone Wealth Management LLC acquired a new position in shares of Newmont during the 4th quarter worth approximately $28,000. Laurel Wealth Advisors LLC acquired a new position in shares of Newmont during the 4th quarter worth approximately $30,000. Finally, Rosenberg Matthew Hamilton raised its position in shares of Newmont by 308.0% during the 4th quarter. Rosenberg Matthew Hamilton now owns 306 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 231 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Newmont

In other news, EVP Peter Wexler sold 13,378 shares of the business’s stock in a transaction on Friday, May 1st. The shares were 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 of the company’s stock, valued at $7,472,615.15. The trade was a 16.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $330,330.00. Following the sale, the executive vice president directly owned 49,315 shares of the company’s stock, valued at $5,430,074.65. This represents a 5.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 43,068 shares of company stock valued at $4,769,475 over the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. BNP Paribas Exane lifted their price objective on Newmont from $123.00 to $128.00 and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Bank of America boosted their price target on Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a report on Thursday, February 26th. BMO Capital Markets boosted their price target on Newmont from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Macquarie Infrastructure boosted their price target on Newmont from $130.00 to $133.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Finally, National Bank Financial boosted their price target on Newmont from $130.00 to $140.00 and gave the company a “sector perform” rating in a report on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $142.05.

Newmont Trading Up 0.1%

Shares of NEM opened at $107.74 on Monday. The stock has a fifty day moving average of $111.03 and a two-hundred day moving average of $108.19. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The company has a market capitalization of $115.02 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 1.54 and a beta of 0.43. Newmont Corporation has a fifty-two week low of $51.80 and a fifty-two week high of $134.88.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.83. The company 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 period in the previous year, the firm posted $1.25 EPS. As a group, analysts forecast that Newmont Corporation will post 9.47 EPS for the current year.

Newmont Dividend Announcement

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

Newmont Company 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.