Newmont Corporation $NEM Shares Sold by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC decreased its position in shares of Newmont Corporation (NYSE:NEM) by 40.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 36,229 shares of the basic materials company’s stock after selling 24,270 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Newmont were worth $3,617,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of NEM. GoalVest Advisory LLC acquired a new position in shares of Newmont during the fourth quarter valued at $25,000. Physician Wealth Advisors Inc. lifted its holdings in Newmont by 327.8% in the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 236 shares during the period. Cornerstone Planning Group LLC lifted its holdings 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 purchasing an additional 206 shares during the period. 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. Institutional investors and hedge funds own 68.85% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on NEM. BNP Paribas Exane upped their price objective on shares of Newmont from $123.00 to $128.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. TD boosted their price target on shares of Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. TD Cowen reiterated a “buy” rating on shares of Newmont in a research report on Monday, April 27th. BMO Capital Markets boosted 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. Finally, Jefferies Financial Group dropped their price target on shares of Newmont from $165.00 to $154.00 and set a “buy” rating on the stock in a research report on Wednesday. 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 company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $141.53.

Insiders Place Their Bets

In other news, insider David John Thornton sold 2,296 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $252,812.56. Following the transaction, the insider owned 23,163 shares in the company, valued at $2,550,477.93. This represents a 9.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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. Also, insider David James Fry sold 18,394 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the completion of the transaction, the insider owned 17,147 shares in the company, valued at $1,911,033.15. This represents a 51.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 43,068 shares of company stock worth $4,769,475 over the last quarter. Company insiders own 0.06% of the company’s stock.

Newmont Price Performance

NYSE NEM opened at $107.17 on Thursday. The stock’s 50-day moving average price is $110.88 and its two-hundred day moving average price is $108.78. 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 $114.41 billion, a PE ratio of 13.90 and a beta of 0.43. Newmont Corporation has a 1 year low of $51.80 and a 1 year high of $134.88.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share 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 return on equity of 27.84% and a net margin of 33.87%.The firm’s quarterly revenue was up 45.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.25 EPS. On average, analysts predict that Newmont Corporation will post 9.72 EPS for the current year.

Newmont Dividend Announcement

The firm 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. 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 dividend payout ratio 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.