Themes Management Co LLC Purchases New Position in Newmont Corporation $NEM

Themes Management Co LLC purchased a new stake in Newmont Corporation (NYSE:NEM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,472 shares of the basic materials company’s stock, valued at approximately $746,000.

Several other institutional investors have also recently bought and sold shares of NEM. Assetmark Inc. raised its position in Newmont by 398.3% in the 4th quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock valued at $286,619,000 after purchasing an additional 2,294,396 shares during the last quarter. Boston Partners raised its position in Newmont by 49.3% in the 3rd quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock valued at $585,828,000 after purchasing an additional 2,288,653 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Newmont by 106.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,155,210 shares of the basic materials company’s stock valued at $349,288,000 after purchasing an additional 2,146,905 shares during the last quarter. Ameriprise Financial Inc. raised its position in Newmont by 142.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,262,258 shares of the basic materials company’s stock valued at $189,963,000 after purchasing an additional 1,914,286 shares during the last quarter. Finally, Life Cycle Investment Partners Ltd bought a new position in Newmont in the 4th quarter valued at $166,191,000. Institutional investors own 68.85% of the company’s stock.

Newmont Trading Up 0.1%

NEM stock opened at $107.74 on Tuesday. The company has a market cap of $115.02 billion, a P/E ratio of 13.97, a PEG ratio of 1.54 and a beta of 0.43. Newmont Corporation has a twelve month low of $51.80 and a twelve month high of $134.88. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average of $110.90 and a 200-day moving average of $108.39.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. The company 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 firm’s quarterly revenue was up 45.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.25 earnings per share. As a group, equities research analysts expect that Newmont Corporation will post 9.47 EPS for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. Newmont’s payout ratio is presently 13.49%.

Insider Transactions at Newmont

In other news, 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 completion of the sale, the executive vice president owned 67,865 shares in the company, valued at $7,472,615.15. The trade was a 16.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 John Thornton sold 2,296 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 value of $252,812.56. Following 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 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. In the last ninety days, insiders have sold 43,068 shares of company stock worth $4,769,475. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

NEM has been the subject of several research analyst reports. BMO Capital Markets lifted their price objective on Newmont from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. 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. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 3rd. Barclays initiated coverage on Newmont in a research report on Thursday. They issued an “overweight” rating and a $133.00 price objective for the company. Finally, Jefferies Financial Group lifted their price objective on Newmont from $162.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, April 10th. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $142.05.

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.