O Shaughnessy Asset Management LLC Purchases 72,848 Shares of Newmont Corporation $NEM

O Shaughnessy Asset Management LLC increased its holdings in Newmont Corporation (NYSE:NEM) by 28.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 328,132 shares of the basic materials company’s stock after purchasing an additional 72,848 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Newmont were worth $32,764,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. GoalVest Advisory LLC bought a new position in shares of Newmont in the fourth quarter worth approximately $25,000. Cornerstone Planning Group LLC raised its stake 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 in the last quarter. Lodestone Wealth Management LLC bought a new stake in shares of Newmont during the fourth quarter valued at approximately $28,000. Laurel Wealth Advisors LLC bought a new stake in shares of Newmont during the 4th quarter valued at $30,000. Finally, Rosenberg Matthew Hamilton boosted its stake in Newmont by 308.0% during the fourth quarter. Rosenberg Matthew Hamilton now owns 306 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 231 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider David James Fry sold 18,394 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the transaction, the insider owned 17,147 shares of the company’s stock, valued at approximately $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Natascha Viljoen sold 3,882 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $408,852.24. Following the transaction, the chief executive officer owned 142,999 shares of the company’s stock, valued at approximately $15,060,654.68. The trade was a 2.64% 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. Insiders have sold 49,950 shares of company stock valued at $5,494,288 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NEM shares. Royal Bank Of Canada cut their target price on Newmont from $160.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 3rd. Stifel Nicolaus lifted their target price on shares of Newmont from $120.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. TD upped their price target on shares of Newmont from $116.00 to $129.00 and gave the company a “hold” rating in a research report on Monday, April 27th. BMO Capital Markets raised their target price on Newmont from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Finally, Wall Street Zen cut shares of Newmont from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 30th. Two equities 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 stock. According to MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average price target of $142.26.

Newmont Price Performance

Newmont stock opened at $99.07 on Tuesday. The firm’s fifty day moving average is $111.69 and its 200 day moving average is $109.80. 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 company has a market cap of $105.76 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 1.65 and a beta of 0.42. Newmont Corporation has a 52-week low of $52.08 and a 52-week high of $134.88.

Newmont (NYSE:NEM) last announced its quarterly earnings results 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 firm had revenue of $7.31 billion during 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 firm’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.25 EPS. Sell-side analysts forecast that Newmont Corporation will post 9.91 EPS for the current fiscal 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 issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date 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.