Great Diamond Partners LLC Purchases Shares of 13,334 Newmont Corporation $NEM

by · The Cerbat Gem

Great Diamond Partners LLC purchased a new stake in shares of Newmont Corporation (NYSE:NEM – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 13,334 shares of the basic materials company’s stock, valued at approximately $1,331,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Newmont by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company’s stock valued at $13,390,613,000 after acquiring an additional 637,996 shares during the period. Legal & General Group Plc raised its holdings in Newmont by 9.6% during the third quarter. Legal & General Group Plc now owns 8,156,669 shares of the basic materials company’s stock valued at $687,223,000 after acquiring an additional 711,940 shares during the period. Boston Partners increased its holdings in shares of Newmont by 49.3% in the third quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock worth $585,828,000 after purchasing an additional 2,288,653 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Newmont by 16.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,996,775 shares of the basic materials company’s stock worth $498,928,000 after purchasing an additional 692,560 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Newmont by 33.8% in the third quarter. Victory Capital Management Inc. now owns 4,925,237 shares of the basic materials company’s stock worth $414,270,000 after purchasing an additional 1,244,845 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider David John Thornton sold 2,296 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $252,812.56. Following the transaction, the insider directly owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. This represents a 9.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $330,330.00. Following the transaction, the executive vice president directly owned 49,315 shares in the company, valued at approximately $5,430,074.65. The trade was a 5.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 43,068 shares of company stock valued at $4,769,475. Company insiders own 0.06% of the company’s stock.

Newmont Stock Up 2.2%

Shares of NYSE:NEM opened at $107.36 on Thursday. Newmont Corporation has a 1 year low of $51.80 and a 1 year high of $134.88. The business has a 50 day simple moving average of $111.41 and a two-hundred day simple moving average of $107.81. The firm has a market capitalization of $114.61 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 1.50 and a beta of 0.43. 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 – Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. The firm had revenue of $7.31 billion during the quarter, compared to analyst estimates of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.Newmont’s quarterly revenue was up 45.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 earnings per share. On average, equities analysts predict that Newmont Corporation will post 9.47 EPS for the current year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Wednesday, May 27th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend 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 presently 13.49%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NEM. Stifel Nicolaus lifted their target price on Newmont from $120.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Macquarie Infrastructure lifted their target price on Newmont from $130.00 to $133.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. UBS Group reduced their target price on Newmont from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, March 27th. Argus boosted their price objective on Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Finally, National Bank Financial boosted their price objective on Newmont from $130.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.51.

Get Our Latest Analysis on NEM

About Newmont

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Corporation (NYSE:NEM – Free Report).