Ascent Group LLC Increases Holdings in Newmont Corporation $NEM

Ascent Group LLC grew its stake in Newmont Corporation (NYSE:NEM) by 37.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,575 shares of the basic materials company’s stock after acquiring an additional 6,378 shares during the quarter. Ascent Group LLC’s holdings in Newmont were worth $2,354,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of NEM. GoalVest Advisory LLC purchased a new stake in Newmont during the 4th quarter valued at about $25,000. Lodestone Wealth Management LLC purchased a new position in Newmont in the fourth quarter worth about $28,000. Rosenberg Matthew Hamilton lifted its stake in shares of Newmont by 308.0% in the fourth quarter. Rosenberg Matthew Hamilton now owns 306 shares of the basic materials company’s stock worth $31,000 after buying an additional 231 shares in the last quarter. Physician Wealth Advisors Inc. lifted its stake in shares of 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 buying an additional 236 shares in the last quarter. Finally, PMV Capital Advisers LLC purchased a new stake in shares of Newmont during the fourth quarter valued at approximately $32,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $113.09, for a total transaction of $339,270.00. Following the completion of the transaction, the executive vice president owned 52,315 shares in the company, valued at $5,916,303.35. This trade represents a 5.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David James Fry sold 18,394 shares of the business’s stock in a transaction dated 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 owned 17,147 shares in the company, valued at $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 24,394 shares of company stock valued at $2,713,281 over the last ninety days. 0.05% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on NEM. National Bank Financial boosted their price target on Newmont from $120.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Sanford C. Bernstein raised Newmont from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $121.00 to $157.00 in a research report on Friday, February 27th. Wall Street Zen downgraded Newmont from a “buy” rating to a “hold” rating in a report on Saturday. The Goldman Sachs Group upped their target price on shares of Newmont from $99.90 to $123.90 and gave the company a “buy” rating in a research note on Monday, January 12th. Finally, Jefferies Financial Group raised their price target on shares of Newmont from $158.00 to $162.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Newmont has a consensus rating of “Buy” and a consensus target price of $133.78.

Newmont Price Performance

Shares of Newmont stock opened at $114.13 on Monday. Newmont Corporation has a one year low of $42.93 and a one year high of $134.88. The stock’s fifty day moving average is $116.13 and its 200 day moving average is $101.67. The stock has a market cap of $123.26 billion, a P/E ratio of 17.86, a P/E/G ratio of 0.88 and a beta of 0.46. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.02 and a current ratio of 2.29.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.71. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.18 billion. During the same quarter in the previous year, the firm earned $1.40 earnings per share. The company’s revenue for the quarter was up 20.6% on a year-over-year basis. Sell-side analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Tuesday, March 3rd were given a dividend of $0.26 per share. This is a positive change from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, March 3rd. Newmont’s dividend payout ratio (DPR) is currently 16.28%.

Newmont Company 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.