World Investment Advisors Has $1.80 Million Stock Position in Newmont Corporation $NEM

World Investment Advisors grew its position in Newmont Corporation (NYSE:NEM) by 298.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,255 shares of the basic materials company’s stock after buying an additional 14,418 shares during the quarter. World Investment Advisors’ holdings in Newmont were worth $1,796,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Empire Life Investments Inc. acquired a new position in shares of Newmont in the fourth quarter worth about $11,804,000. Glass Wealth Management Co LLC boosted its holdings in shares of Newmont by 2.2% in the fourth quarter. Glass Wealth Management Co LLC now owns 98,570 shares of the basic materials company’s stock worth $9,842,000 after buying an additional 2,090 shares during the period. Meridian Wealth Management LLC boosted its holdings in shares of Newmont by 25.9% in the fourth quarter. Meridian Wealth Management LLC now owns 7,155 shares of the basic materials company’s stock worth $714,000 after buying an additional 1,470 shares during the period. Strategic Planning Group LLC boosted its holdings in shares of Newmont by 2.1% in the fourth quarter. Strategic Planning Group LLC now owns 94,059 shares of the basic materials company’s stock worth $9,392,000 after buying an additional 1,956 shares during the period. Finally, AG2R LA Mondiale Gestion D Actifs boosted its holdings in shares of Newmont by 4.0% during the fourth quarter. AG2R LA Mondiale Gestion D Actifs now owns 45,381 shares of the basic materials company’s stock worth $4,531,000 after purchasing an additional 1,766 shares during the period. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Newmont

In other Newmont news, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the sale, the insider directly owned 23,163 shares in the company, valued at $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 available through the SEC website. 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, insider David James Fry sold 18,394 shares of Newmont stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the completion of the transaction, 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 position. The disclosure for this sale is available in the SEC filing. Insiders have sold 43,068 shares of company stock valued at $4,769,475 over the last three months. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Canaccord Genuity Group raised their price target on shares of Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. TD raised their price target on shares of Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a report on Monday, April 27th. Royal Bank Of Canada raised their price target on shares of Newmont from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. UBS Group decreased their price target on shares of Newmont from $150.00 to $140.00 and set a “buy” rating for the company in a report on Friday, March 27th. Finally, Bank of America raised their price target on shares of Newmont from $134.00 to $151.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $142.51.

Newmont Stock Performance

NEM stock opened at $108.93 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The stock has a market cap of $116.29 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.52 and a beta of 0.43. The firm has a 50 day simple moving average of $111.96 and a 200 day simple moving average of $107.04. Newmont Corporation has a 52 week low of $48.61 and a 52 week high of $134.88.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. The firm had revenue of $7.31 billion during 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%. The company’s revenue was up 45.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.25 earnings per share. Research analysts anticipate that Newmont Corporation will post 9.72 earnings per share for the current fiscal 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 $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 payout ratio is 13.49%.

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.