United Capital Management of KS Inc. Has $11.10 Million Holdings in Newmont Corporation $NEM

United Capital Management of KS Inc. cut its holdings in Newmont Corporation (NYSE:NEM) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 111,207 shares of the basic materials company’s stock after selling 6,861 shares during the quarter. Newmont accounts for 1.6% of United Capital Management of KS Inc.’s investment portfolio, making the stock its 25th largest holding. United Capital Management of KS Inc.’s holdings in Newmont were worth $11,104,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NEM. Brighton Jones LLC lifted its stake in Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after buying an additional 1,847 shares during the period. Woodline Partners LP increased its holdings 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 valued at $4,644,000 after acquiring an additional 27,813 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Newmont during the second quarter valued at approximately $240,000. Cerity Partners LLC increased its holdings 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 valued at $7,303,000 after acquiring an additional 65,342 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings 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 valued at $2,854,000 after acquiring an additional 3,856 shares in the last quarter. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $315,960.00. Following the completion of the sale, the executive vice president owned 46,315 shares in the company, valued at approximately $4,877,895.80. This represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of the company’s stock in a transaction 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 $7,472,615.15. This trade represents a 16.47% decrease in their position. The SEC filing for this sale provides additional information. 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 a total of 49,950 shares of company stock valued at $5,494,288 in the last three months. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the subject of several recent research reports. Scotiabank decreased their price objective on Newmont from $152.00 to $151.00 and set a “sector outperform” rating for the company in a report on Friday, March 20th. The Goldman Sachs Group decreased their price objective on Newmont from $125.10 to $122.50 and set a “buy” rating for the company in a report on Thursday, June 4th. Weiss Ratings downgraded Newmont from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 27th. TD boosted their price objective on Newmont from $116.00 to $129.00 and gave the company a “hold” rating in a report on Monday, April 27th. Finally, Wall Street Zen downgraded Newmont from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. 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 stock. According to MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and an average target price of $142.26.

Newmont Trading Up 2.6%

Shares of Newmont stock opened at $100.10 on Friday. The stock has a fifty day simple moving average of $110.94 and a 200 day simple moving average of $109.98. Newmont Corporation has a 12-month low of $55.37 and a 12-month high of $134.88. The company has a market capitalization of $106.86 billion, a P/E ratio of 12.98, a price-to-earnings-growth ratio of 1.62 and a beta of 0.42. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $6.83 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. Newmont’s revenue was up 45.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Announces Dividend

The business 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 annualized dividend and a yield of 1.0%. Newmont’s dividend payout ratio is 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.