Royal Palms Capital LLC Purchases Shares of 51,737 Newmont Corporation $NEM

Royal Palms Capital LLC acquired a new position in shares of Newmont Corporation (NYSE:NEM) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 51,737 shares of the basic materials company’s stock, valued at approximately $5,166,000. Newmont makes up approximately 6.1% of Royal Palms Capital LLC’s portfolio, making the stock its biggest holding.

Several other large investors have also modified their holdings of NEM. GoalVest Advisory LLC purchased a new stake in shares of Newmont during the fourth quarter worth $25,000. Physician Wealth Advisors Inc. grew its position 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 valued at $26,000 after purchasing an additional 236 shares during the last quarter. JPL Wealth Management LLC acquired a new stake in Newmont during the third quarter worth about $27,000. Cornerstone Planning Group LLC grew its position in Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock worth $27,000 after buying an additional 206 shares in the last quarter. Finally, Lodestone Wealth Management LLC acquired a new stake in Newmont during the fourth quarter worth about $28,000. 68.85% of the stock is owned by institutional investors.

Newmont Price Performance

Shares of NEM stock opened at $111.49 on Wednesday. Newmont Corporation has a 12-month low of $51.80 and a 12-month high of $134.88. The firm has a market capitalization of $119.02 billion, a price-to-earnings ratio of 14.46 and a beta of 0.43. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average of $110.94 and a 200-day moving average of $108.60.

Newmont (NYSE:NEM) last announced its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share for the quarter, topping 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 net margin of 33.87% and a return on equity of 27.84%. The company’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.25 EPS. On average, equities research analysts forecast that Newmont Corporation will post 9.47 earnings per share for the current year.

Newmont Dividend Announcement

The business also recently announced 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 0.9%. Newmont’s dividend payout ratio is presently 13.49%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NEM. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Friday, April 3rd. Canadian Imperial Bank of Commerce dropped their price objective on shares of Newmont from $177.00 to $176.00 and set an “outperform” rating for the company in a research report on Tuesday, April 21st. Stifel Nicolaus lifted their target price on shares of Newmont from $120.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. National Bank Financial lifted their target price on shares of Newmont from $130.00 to $140.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Newmont in a report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Newmont currently has a consensus rating of “Moderate Buy” and an average target price of $142.05.

Insider Activity at Newmont

In other Newmont news, insider David James Fry sold 18,394 shares of the business’s stock in a transaction dated 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 directly owned 17,147 shares of the company’s stock, valued at $1,911,033.15. The trade was a 51.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Peter Wexler sold 13,378 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the completion of the sale, the executive vice president directly owned 67,865 shares in the company, valued at approximately $7,472,615.15. The trade was a 16.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 sold a total of 43,068 shares of company stock valued at $4,769,475 in the last quarter. 0.06% of the stock is currently owned by company 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.