CenterBook Partners LP Grows Stock Position in Newmont Corporation $NEM

CenterBook Partners LP boosted its stake in Newmont Corporation (NYSE:NEM) by 129.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,180 shares of the basic materials company’s stock after acquiring an additional 9,113 shares during the quarter. CenterBook Partners LP’s holdings in Newmont were worth $1,616,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after buying an additional 1,847 shares in the last quarter. Woodline Partners LP increased its position in shares of Newmont by 40.7% during the first 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 stake in shares of Newmont during the second quarter worth about $240,000. Cerity Partners LLC increased its position in shares of Newmont by 108.9% during the second quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock worth $7,303,000 after acquiring an additional 65,342 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Newmont by 8.5% during the second quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock worth $2,854,000 after acquiring an additional 3,856 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Trading Down 0.4%

NYSE:NEM opened at $98.55 on Wednesday. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $111.63 and its two-hundred day moving average is $109.87. Newmont Corporation has a 52 week low of $52.31 and a 52 week high of $134.88. The company has a market cap of $105.20 billion, a PE ratio of 12.78, a P/E/G ratio of 1.64 and a beta of 0.42.

Newmont (NYSE:NEM) last released its 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 company had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter last year, the business posted $1.25 EPS. Newmont’s quarterly revenue was up 45.8% compared to the same quarter last year. On average, analysts predict that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 1.1%. Newmont’s payout ratio is presently 13.49%.

Insider Activity

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $315,960.00. Following the transaction, the executive vice president owned 46,315 shares of the company’s stock, valued at $4,877,895.80. This trade represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the completion of the transaction, the chief executive officer directly owned 142,999 shares in the company, valued at $15,060,654.68. This represents a 2.64% decrease in their position. 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 have sold 49,950 shares of company stock valued at $5,494,288 over the last quarter. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NEM. BMO Capital Markets lifted their target price on Newmont from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Jefferies Financial Group increased their target price on Newmont from $154.00 to $158.00 and gave the company a “buy” rating in a research note on Monday. The Goldman Sachs Group reduced their target price on Newmont from $125.10 to $122.50 and set a “buy” rating for the company in a research note on Thursday, June 4th. Argus increased their target price on Newmont from $94.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Finally, National Bank Financial increased their target price on Newmont from $130.00 to $140.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Newmont presently has an average rating of “Moderate Buy” and an average target price of $142.26.

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.