342,367 Shares in Newmont Corporation $NEM Purchased by United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in shares of Newmont Corporation (NYSE:NEM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 342,367 shares of the basic materials company’s stock, valued at approximately $34,185,000.

Other hedge funds have also added to or reduced their stakes in the company. GoalVest Advisory LLC bought a new stake in Newmont in the fourth quarter worth about $25,000. Physician Wealth Advisors Inc. raised its position in Newmont by 327.8% in the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 236 shares during the period. Cornerstone Planning Group LLC increased its position in 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 buying an additional 206 shares during the last quarter. JPL Wealth Management LLC purchased a new stake in Newmont in the third quarter worth $27,000. Finally, Lodestone Wealth Management LLC purchased a new stake in Newmont in the fourth quarter worth $28,000. Institutional investors own 68.85% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on NEM. Royal Bank Of Canada raised their target price on Newmont from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. Canaccord Genuity Group raised their target price on Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. BMO Capital Markets raised their target price on Newmont from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Canadian Imperial Bank of Commerce decreased their target price on Newmont from $177.00 to $176.00 and set an “outperform” rating for the company in a research report on Tuesday, April 21st. Finally, TD Cowen reissued a “buy” rating on shares of Newmont in a research report on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.53.

Insider Activity

In other Newmont news, EVP Peter Wexler sold 13,378 shares of the firm’s stock in a transaction on 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 John Thornton sold 2,296 shares of the firm’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 $252,812.56. Following the completion of the sale, the insider directly owned 23,163 shares in the company, valued at approximately $2,550,477.93. This trade represents a 9.02% 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 sold 43,068 shares of company stock worth $4,769,475 in the last quarter. Insiders own 0.06% of the company’s stock.

Newmont Price Performance

NEM stock opened at $108.32 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. Newmont Corporation has a 52 week low of $51.80 and a 52 week high of $134.88. The firm’s fifty day moving average is $110.82 and its 200 day moving average is $108.95. The firm has a market cap of $115.64 billion, a P/E ratio of 14.05 and a beta of 0.43.

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, beating analysts’ consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The company had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. During the same quarter in the previous year, the company posted $1.25 EPS. Newmont’s revenue for the quarter was up 45.8% on a year-over-year basis. Research analysts predict that Newmont Corporation will post 9.72 earnings per share for the current year.

Newmont Dividend Announcement

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 issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) 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.