AMJ Financial Wealth Management Has $10.70 Million Stock Position in Newmont Corporation $NEM

AMJ Financial Wealth Management lowered its position in shares of Newmont Corporation (NYSE:NEM) by 7.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 107,129 shares of the basic materials company’s stock after selling 8,536 shares during the period. Newmont makes up about 2.5% of AMJ Financial Wealth Management’s portfolio, making the stock its 10th biggest position. AMJ Financial Wealth Management’s holdings in Newmont were worth $10,697,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NEM. GoalVest Advisory LLC purchased a new position in shares of Newmont during the fourth quarter valued at $25,000. Physician Wealth Advisors Inc. grew its stake in Newmont by 327.8% in the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 236 shares during the last quarter. Cornerstone Planning Group LLC grew 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 valued at $27,000 after purchasing an additional 206 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in Newmont in the third quarter worth about $27,000. Finally, Lodestone Wealth Management LLC acquired a new stake in Newmont in the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Trading Down 6.4%

Shares of NYSE:NEM opened at $108.93 on Friday. Newmont Corporation has a 12-month low of $48.61 and a 12-month high of $134.88. The company has a market capitalization of $116.29 billion, a PE ratio of 14.13, a PEG ratio of 1.62 and a beta of 0.43. The business has a 50 day moving average of $111.96 and a two-hundred day moving average of $107.04. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15.

Newmont (NYSE:NEM) last posted 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 business had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business’s revenue was up 45.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 earnings per share. As a group, analysts forecast that Newmont Corporation will post 9.72 EPS for the current year.

Newmont Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be given a $0.26 dividend. 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 13.49%.

Insiders Place Their Bets

In other news, insider David James Fry sold 18,394 shares of the business’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 value of $2,050,011.30. Following the completion of the sale, the insider directly owned 17,147 shares in the company, valued at $1,911,033.15. The trade was a 51.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter Wexler sold 13,378 shares of the business’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 $1,473,051.58. Following the completion of 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 ownership of the stock. 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. Insiders have sold 43,068 shares of company stock valued at $4,769,475 over the last ninety days. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NEM. BNP Paribas Exane raised their price target on Newmont from $123.00 to $128.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. National Bank Financial raised their price target on Newmont from $130.00 to $140.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. TD Cowen reissued a “buy” rating on shares of Newmont in a report on Monday, April 27th. Sanford C. Bernstein raised Newmont from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $121.00 to $157.00 in a report on Friday, February 27th. Finally, Royal Bank Of Canada raised their price target on Newmont from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. One equities 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’s stock. Based on data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and an average target price of $142.51.

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.