Newmont Corporation $NEM Shares Bought by Qtron Investments LLC

Qtron Investments LLC raised its stake in Newmont Corporation (NYSE:NEM) by 63.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,945 shares of the basic materials company’s stock after acquiring an additional 10,853 shares during the quarter. Qtron Investments LLC’s holdings in Newmont were worth $2,790,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. GoalVest Advisory LLC acquired a new position in shares of Newmont in the fourth quarter worth $25,000. Cornerstone Planning Group LLC raised its holdings 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 worth $27,000 after acquiring an additional 206 shares during the last quarter. JPL Wealth Management LLC acquired a new position in shares of Newmont in the third quarter worth $27,000. Lodestone Wealth Management LLC acquired a new position in shares of Newmont in the fourth quarter worth $28,000. Finally, Laurel Wealth Advisors LLC acquired a new position in shares of Newmont in the fourth quarter worth $30,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Newmont news, insider David John Thornton sold 2,296 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $252,812.56. Following the completion of the sale, the insider owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. The trade was a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Wexler sold 13,378 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $1,473,051.58. Following the sale, the executive vice president directly owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. This trade 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. Insiders have sold 49,950 shares of company stock valued at $5,494,288 in the last 90 days. 0.06% of the stock is owned by corporate insiders.

Newmont Price Performance

Shares of NYSE:NEM opened at $97.52 on Friday. The company has a market cap of $104.11 billion, a P/E ratio of 12.65, a P/E/G ratio of 1.54 and a beta of 0.42. 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 52 week low of $54.14 and a 52 week high of $134.88. The business has a fifty day simple moving average of $111.21 and a 200-day simple moving average of $110.05.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. The business 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%.The business’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 earnings per share. Equities research analysts forecast that Newmont Corporation will post 9.91 EPS for the current year.

Newmont Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NEM shares. The Goldman Sachs Group cut their price target on Newmont from $125.10 to $122.50 and set a “buy” rating for the company in a report on Thursday, June 4th. TD boosted their price target on Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a report on Monday, April 27th. Scotiabank lowered their price objective on Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a research report on Friday, March 20th. BNP Paribas Exane lifted their price objective on Newmont from $123.00 to $128.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. Finally, Macquarie Infrastructure lifted their price objective on Newmont from $130.00 to $133.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and a consensus target price of $142.26.

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.