Genus Capital Management Inc. Has $925,000 Stock Position in Newmont Corporation $NEM

Genus Capital Management Inc. lowered its stake in Newmont Corporation (NYSE:NEM) by 51.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,260 shares of the basic materials company’s stock after selling 10,000 shares during the quarter. Genus Capital Management Inc.’s holdings in Newmont were worth $925,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. GoalVest Advisory LLC acquired a new stake in shares of Newmont in the fourth quarter valued at about $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 acquiring an additional 236 shares during 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 acquiring an additional 206 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Newmont in the third quarter valued at about $27,000. Finally, Lodestone Wealth Management LLC acquired a new stake in shares of Newmont in the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insiders Place Their Bets

In other news, insider David James Fry sold 18,394 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider owned 17,147 shares in the company, valued at $1,911,033.15. The trade was a 51.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 value of $1,473,051.58. Following the sale, the executive vice president owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. This represents a 16.47% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Over the last ninety days, insiders have sold 43,068 shares of company stock worth $4,769,475. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NEM. BNP Paribas Exane lifted their target price on Newmont from $123.00 to $128.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. TD Securities reaffirmed a “hold” rating and issued a $129.00 target price on shares of Newmont in a research report on Monday, April 27th. Wall Street Zen raised Newmont from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Argus lifted their target price on Newmont from $94.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Finally, BMO Capital Markets lifted their price target on Newmont from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Two research 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $142.05.

Newmont Trading Up 0.1%

Newmont stock opened at $107.74 on Tuesday. Newmont Corporation has a 52 week low of $51.80 and a 52 week high of $134.88. 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 stock has a market capitalization of $115.02 billion, a P/E ratio of 13.97, a PEG ratio of 1.54 and a beta of 0.43. The stock has a 50-day simple moving average of $110.90 and a 200 day simple moving average of $108.39.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter last year, the company posted $1.25 earnings per share. Newmont’s quarterly revenue was up 45.8% on a year-over-year basis. Analysts expect that Newmont Corporation will post 9.47 earnings per share for the current year.

Newmont Announces Dividend

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

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.