Global Retirement Partners LLC Grows Stock Holdings in Newmont Corporation $NEM

Global Retirement Partners LLC raised its position in shares of Newmont Corporation (NYSE:NEM) by 34.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,371 shares of the basic materials company’s stock after buying an additional 6,545 shares during the quarter. Global Retirement Partners LLC’s holdings in Newmont were worth $2,533,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC raised its position in shares of Newmont by 64.6% in the 4th quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock valued at $20,259,000 after purchasing an additional 79,617 shares during the last quarter. Estate Counselors LLC purchased a new position in shares of Newmont in the 3rd quarter valued at approximately $4,182,000. AustralianSuper Pty Ltd raised its position in shares of Newmont by 124.8% in the 3rd quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock valued at $27,843,000 after purchasing an additional 183,360 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Newmont by 24.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock valued at $30,775,000 after purchasing an additional 54,530 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC raised its position in shares of Newmont by 286.5% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 60,499 shares of the basic materials company’s stock valued at $5,101,000 after purchasing an additional 44,846 shares during the last quarter. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $330,330.00. Following the sale, the executive vice president owned 49,315 shares of the company’s stock, valued at approximately $5,430,074.65. This trade represents a 5.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David James Fry sold 18,394 shares of Newmont stock in a transaction 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 completion of the sale, the insider directly owned 17,147 shares in the company, valued at $1,911,033.15. This represents a 51.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 43,068 shares of company stock worth $4,769,475 over the last 90 days. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on NEM. Macquarie Infrastructure raised their price target on shares of Newmont from $130.00 to $133.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. BMO Capital Markets raised their price target on shares of Newmont from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. TD Cowen reissued a “buy” rating on shares of Newmont in a research report on Monday, April 27th. National Bank Financial raised their price target on shares of Newmont from $130.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Finally, Jefferies Financial Group raised their price target on shares of Newmont from $162.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, April 10th. Two investment 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 company’s stock. Based on data from MarketBeat.com, Newmont currently has an average rating of “Moderate Buy” and an average target price of $142.05.

Newmont Price Performance

Shares of NYSE NEM opened at $107.74 on Friday. The stock has a market capitalization of $115.02 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 1.55 and a beta of 0.43. Newmont Corporation has a 12 month low of $51.80 and a 12 month high of $134.88. The firm’s 50 day simple moving average is $111.03 and its 200-day simple moving average is $108.00. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17.

Newmont (NYSE:NEM) last issued its quarterly earnings data 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. The business had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The business’s revenue was up 45.8% on a year-over-year basis. During the same quarter last year, the company earned $1.25 EPS. Analysts expect that Newmont Corporation will post 9.47 EPS for the current year.

Newmont Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be paid a $0.26 dividend. The ex-dividend date of this dividend 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 currently 13.49%.

About Newmont

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.