6,963 Shares in Newmont Corporation $NEM Purchased by Lawood & Co.

Lawood & Co. purchased a new position in Newmont Corporation (NYSE:NEM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,963 shares of the basic materials company’s stock, valued at approximately $695,000.

Other hedge funds also recently bought and sold shares of the company. Apella Capital LLC lifted its position in Newmont by 4.1% in the 4th quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock valued at $219,000 after acquiring an additional 86 shares in the last quarter. New Wave Wealth Advisors LLC lifted its position in Newmont by 1.3% in the 4th quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock valued at $684,000 after acquiring an additional 88 shares in the last quarter. Novem Group lifted its position in Newmont by 3.7% in the 4th quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock valued at $248,000 after acquiring an additional 88 shares in the last quarter. Norden Group LLC lifted its position in Newmont by 0.7% in the 4th quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock valued at $1,235,000 after acquiring an additional 90 shares in the last quarter. Finally, Coston McIsaac & Partners lifted its position in Newmont by 28.6% in the 4th quarter. Coston McIsaac & Partners now owns 450 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Price Performance

Shares of Newmont stock opened at $108.93 on Friday. Newmont Corporation has a one year low of $48.61 and a one year high of $134.88. The stock’s fifty day moving average is $111.96 and its 200 day moving average is $107.04. The stock has a market cap of $116.29 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.62 and a beta of 0.43. 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 (NYSE:NEM) last announced its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $6.83 billion. During the same period last year, the firm earned $1.25 EPS. Newmont’s revenue for the quarter was up 45.8% compared to the same quarter last year. Sell-side analysts anticipate that Newmont Corporation will post 9.72 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be paid 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 yield of 1.0%. Newmont’s dividend payout ratio (DPR) is presently 13.49%.

Analysts Set New Price Targets

Several research firms have issued reports on NEM. TD Securities restated a “hold” rating and set a $129.00 target price on shares of Newmont in a research note on Monday, April 27th. Stifel Nicolaus increased their price target on Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Royal Bank Of Canada increased their price target on Newmont from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Macquarie Infrastructure increased their price target on Newmont from $130.00 to $133.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Finally, Canadian Imperial Bank of Commerce lowered their price objective on shares of Newmont from $177.00 to $176.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Newmont has a consensus rating of “Moderate Buy” and an average price target of $142.51.

Insider Activity

In other Newmont news, insider David James Fry sold 18,394 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $111.45, for a total transaction of $2,050,011.30. Following the sale, the insider owned 17,147 shares in the company, valued at approximately $1,911,033.15. This trade represents a 51.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Wexler sold 13,378 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president owned 67,865 shares in the company, valued at approximately $7,472,615.15. The trade was a 16.47% 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 have sold a total of 43,068 shares of company stock worth $4,769,475 in the last quarter. 0.06% of the stock is currently owned by insiders.

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.