Newmont Corporation $NEM Shares Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd raised its stake in Newmont Corporation (NYSE:NEM) by 55.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 14,114 shares of the basic materials company’s stock after purchasing an additional 5,057 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Newmont were worth $1,409,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Apella Capital LLC increased its stake in Newmont by 4.1% during the fourth quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock worth $219,000 after purchasing an additional 86 shares during the period. New Wave Wealth Advisors LLC increased its stake in Newmont by 1.3% during the fourth quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock worth $684,000 after purchasing an additional 88 shares during the period. Novem Group increased its stake in Newmont by 3.7% during the fourth quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock worth $248,000 after purchasing an additional 88 shares during the period. Norden Group LLC increased its stake in Newmont by 0.7% during the fourth quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock worth $1,235,000 after purchasing an additional 90 shares during the period. Finally, Coston McIsaac & Partners increased its stake in Newmont by 28.6% during the fourth quarter. Coston McIsaac & Partners now owns 450 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Key Newmont News

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Analysts and commentators continue to highlight Newmont’s strong fundamentals, including robust free cash flow, higher gold prices, a large buyback program, and improving operational efficiency as the company divests lower-yield assets. Newmont Corporation: Consider Hedging Against Global Economic Uncertainty With This Stock
• Positive Sentiment: RBC Capital kept an outperform view on Newmont even after trimming its price target, suggesting Wall Street still sees upside from current levels. Newmont (NEM) Is Among Gold Equities Trading At A Premium Valuation Relative To Peers, Says RBC Capital

Newmont Trading Down 7.9%

Shares of NYSE:NEM opened at $99.77 on Friday. Newmont Corporation has a 52 week low of $52.08 and a 52 week high of $134.88. The company’s 50 day moving average is $111.70 and its two-hundred day moving average is $109.55. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The company has a market cap of $106.51 billion, a PE ratio of 12.94, a P/E/G ratio of 1.80 and a beta of 0.42.

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 company had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The company’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.25 EPS. Equities analysts predict that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Announces Dividend

The firm 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 $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 is 13.49%.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Newmont from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 30th. Jefferies Financial Group cut their price target on shares of Newmont from $165.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. BNP Paribas Exane upped their target price on shares of Newmont from $123.00 to $128.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Stifel Nicolaus upped their target price on shares of Newmont from $120.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Finally, Weiss Ratings lowered shares of Newmont from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of $142.07.

Insider Transactions at Newmont

In related news, CEO Natascha Viljoen sold 3,882 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the completion of the transaction, the chief executive officer directly owned 142,999 shares of the company’s stock, valued at $15,060,654.68. This represents a 2.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the company’s 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 transaction, the insider directly owned 23,163 shares of the company’s stock, valued at $2,550,477.93. This trade represents a 9.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 a total of 49,950 shares of company stock valued at $5,494,288 over the last three months. 0.06% of the stock is owned by corporate insiders.

Newmont Company 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.