Newmont Corporation $NEM Shares Acquired by Gemsstock Ltd.

Gemsstock Ltd. increased its stake in Newmont Corporation (NYSE:NEM) by 5.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 422,165 shares of the basic materials company’s stock after acquiring an additional 20,500 shares during the period. Newmont comprises 9.4% of Gemsstock Ltd.’s investment portfolio, making the stock its 4th biggest position. Gemsstock Ltd.’s holdings in Newmont were worth $35,593,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Colonial Trust Advisors raised its position in shares of Newmont by 20.8% during the third quarter. Colonial Trust Advisors now owns 684 shares of the basic materials company’s stock worth $58,000 after acquiring an additional 118 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Newmont by 53.5% in the third quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 139 shares during the last quarter. HHM Wealth Advisors LLC increased its position in Newmont by 26.4% in the third quarter. HHM Wealth Advisors LLC now owns 670 shares of the basic materials company’s stock worth $56,000 after purchasing an additional 140 shares during the period. Fielder Capital Group LLC increased its position in Newmont by 1.7% in the third quarter. Fielder Capital Group LLC now owns 8,390 shares of the basic materials company’s stock worth $707,000 after purchasing an additional 141 shares during the period. Finally, Summit Financial Wealth Advisors LLC raised its holdings in Newmont by 2.3% during the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 6,584 shares of the basic materials company’s stock worth $566,000 after purchasing an additional 145 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Newmont Stock Up 2.1%

Shares of NYSE NEM opened at $127.46 on Friday. Newmont Corporation has a 52-week low of $41.23 and a 52-week high of $134.88. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.02 and a current ratio of 2.29. The stock has a market cap of $138.66 billion, a P/E ratio of 19.95, a P/E/G ratio of 1.07 and a beta of 0.40. The firm has a 50 day moving average price of $115.20 and a 200 day moving average price of $94.55.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.71. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The company had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.18 billion. During the same period last year, the firm posted $1.40 earnings per share. The business’s quarterly revenue was up 20.6% compared to the same quarter last year. Analysts expect that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 3rd will be issued a dividend of $0.26 per share. This is a boost from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, March 3rd. Newmont’s dividend payout ratio is presently 16.28%.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the sale, the director directly owned 32,709 shares in the company, valued at $3,021,003.24. This represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NEM. UBS Group reaffirmed a “buy” rating and issued a $160.00 target price on shares of Newmont in a research note on Friday, January 30th. Canaccord Genuity Group raised their price objective on shares of Newmont from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Newmont in a report on Monday, December 29th. BMO Capital Markets cut their price target on Newmont from $145.00 to $140.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. Finally, TD Cowen raised their price target on Newmont from $89.00 to $120.00 and gave the stock a “hold” rating in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and a consensus price target of $132.88.

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.