Vanguard Personalized Indexing Management LLC Boosts Stake in Newmont Corporation $NEM

Vanguard Personalized Indexing Management LLC increased its stake in shares of Newmont Corporation (NYSE:NEM) by 10.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 130,850 shares of the basic materials company’s stock after buying an additional 12,191 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Newmont were worth $13,065,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Apella Capital LLC increased its stake in Newmont by 4.1% during the fourth quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock worth $219,000 after purchasing an additional 86 shares during the period. New Wave Wealth Advisors LLC increased its stake in Newmont by 1.3% during the fourth quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock worth $684,000 after purchasing an additional 88 shares during the period. Novem Group increased its stake in Newmont by 3.7% during the fourth quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock worth $248,000 after purchasing an additional 88 shares during the period. Norden Group LLC increased its stake in Newmont by 0.7% during the fourth quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock worth $1,235,000 after purchasing an additional 90 shares during the period. Finally, Parkside Financial Bank & Trust lifted its holdings in Newmont by 1.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock worth $714,000 after buying an additional 96 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $315,960.00. Following the sale, the executive vice president directly owned 46,315 shares in the company, valued at approximately $4,877,895.80. This trade represents a 6.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of the firm’s stock in a transaction on 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 owned 67,865 shares in the company, valued at $7,472,615.15. The trade was a 16.47% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 31,556 shares of company stock valued at $3,444,276 over the last quarter. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NEM shares. TD Securities reiterated a “hold” rating and set a $129.00 target price on shares of Newmont in a report on Monday, April 27th. Wall Street Zen lowered shares of Newmont from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. TD Cowen reiterated a “buy” rating on shares of Newmont in a report on Monday, April 27th. Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Friday, April 3rd. Finally, The Goldman Sachs Group reduced their target price on shares of Newmont from $125.10 to $122.50 and set a “buy” rating on the stock in a report on Thursday, June 4th. Two 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 stock. According to MarketBeat, Newmont has an average rating of “Moderate Buy” and an average price target of $142.26.

Newmont Stock Performance

Shares of Newmont stock opened at $100.10 on Monday. Newmont Corporation has a one year low of $55.37 and a one year high of $134.88. The company has a market cap of $106.86 billion, a PE ratio of 12.98, a P/E/G ratio of 1.66 and a beta of 0.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The business has a 50-day simple moving average of $110.94 and a 200-day simple moving average of $110.14.

Newmont (NYSE:NEM) last announced its quarterly earnings data 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. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The business had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same period last year, the business earned $1.25 EPS. The company’s revenue was up 45.8% on a year-over-year basis. On average, equities research analysts forecast that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed 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. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is presently 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.