Rothschild Wealth LLC Invests $621,000 in Newmont Corporation $NEM

Rothschild Wealth LLC acquired a new position in shares of Newmont Corporation (NYSE:NEM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 6,215 shares of the basic materials company’s stock, valued at approximately $621,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GoalVest Advisory LLC bought a new stake in Newmont during the fourth quarter worth approximately $25,000. Physician Wealth Advisors Inc. raised its holdings in Newmont by 327.8% during the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 236 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in Newmont by 312.1% during the fourth 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 in the last quarter. JPL Wealth Management LLC bought a new stake in Newmont during the third quarter worth approximately $27,000. Finally, Lodestone Wealth Management LLC bought a new stake in Newmont during the fourth quarter worth approximately $28,000. Institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NEM shares. Barclays assumed coverage on Newmont in a report on Thursday, May 21st. They set an “overweight” rating and a $133.00 target price on the stock. The Goldman Sachs Group upped their price target on Newmont from $123.20 to $125.10 and gave the company a “buy” rating in a report on Tuesday, April 28th. BNP Paribas Exane upped their price target on Newmont from $123.00 to $128.00 and gave the company a “neutral” rating in a report on Monday, March 2nd. Wall Street Zen cut Newmont from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, National Bank Financial upped 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 assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Newmont has an average rating of “Moderate Buy” and a consensus target price of $141.48.

Newmont Trading Down 1.3%

Newmont stock opened at $108.35 on Tuesday. The company’s fifty day simple moving average is $111.08 and its 200-day simple moving average is $109.23. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 12 month low of $52.08 and a 12 month high of $134.88. The stock has a market cap of $115.67 billion, a P/E ratio of 14.05 and a beta of 0.43.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.07 by $0.83. The business had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. Newmont’s revenue was up 45.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 EPS. As a group, sell-side analysts forecast that Newmont Corporation will post 9.72 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be issued a $0.26 dividend. 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 is currently 13.49%.

Insider Buying and Selling at Newmont

In related news, insider David James Fry sold 18,394 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the completion of the sale, the insider directly owned 17,147 shares in the company, valued at approximately $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Peter Wexler sold 13,378 shares of the business’s stock in a transaction 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 transaction, the executive vice president directly 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. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 43,068 shares of company stock valued at $4,769,475. Company insiders own 0.06% of the company’s stock.

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.