Moran Wealth Management LLC Acquires 5,355 Shares of Newmont Corporation $NEM

Moran Wealth Management LLC boosted its holdings in shares of Newmont Corporation (NYSE:NEM) by 27.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,701 shares of the basic materials company’s stock after buying an additional 5,355 shares during the quarter. Moran Wealth Management LLC’s holdings in Newmont were worth $2,674,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NEM. CWM LLC grew its stake in Newmont by 64.6% during the 4th quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock worth $20,259,000 after buying an additional 79,617 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Newmont by 24.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock valued at $30,775,000 after buying an additional 54,530 shares during the last quarter. Leonteq Securities AG acquired a new position in shares of Newmont during the fourth quarter valued at $9,018,000. ARS Investment Partners LLC boosted its holdings in shares of Newmont by 3.6% during the fourth quarter. ARS Investment Partners LLC now owns 697,063 shares of the basic materials company’s stock valued at $69,602,000 after acquiring an additional 23,900 shares during the period. Finally, Ritholtz Wealth Management grew its position in shares of Newmont by 67.0% during the fourth quarter. Ritholtz Wealth Management now owns 40,754 shares of the basic materials company’s stock worth $4,069,000 after acquiring an additional 16,352 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Insider Activity

In related news, insider David John Thornton sold 2,296 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were 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. The trade was 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 the SEC website. 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 Wexler sold 13,378 shares of the business’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 transaction, the executive vice president owned 67,865 shares in the company, valued at approximately $7,472,615.15. This represents a 16.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In the last quarter, insiders have sold 25,556 shares of company stock valued at $2,781,006. 0.06% of the stock is currently owned by company insiders.

Newmont Stock Performance

Shares of NYSE NEM opened at $96.95 on Monday. Newmont Corporation has a 1 year low of $55.37 and a 1 year high of $134.88. The firm has a market cap of $103.50 billion, a P/E ratio of 12.57, a PEG ratio of 1.61 and a beta of 0.46. The stock has a fifty day moving average price of $106.12 and a two-hundred day moving average price of $110.86. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44.

Newmont (NYSE:NEM) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. Newmont’s revenue was up 45.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.25 EPS. Research analysts forecast that Newmont Corporation will post 9.87 EPS for the current fiscal year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.1%. The ex-dividend date was Wednesday, May 27th. Newmont’s payout ratio is presently 13.49%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NEM. Jefferies Financial Group increased their price objective on shares of Newmont from $154.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Barclays initiated coverage on shares of Newmont in a research note on Thursday, May 21st. They set an “overweight” rating and a $133.00 target price for the company. TD raised their price target on shares of Newmont from $116.00 to $129.00 and gave the company a “hold” rating in a research note on Monday, April 27th. UBS Group dropped their price target on shares of Newmont from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Finally, National Bank Financial lifted their price target on Newmont from $130.00 to $140.00 and gave the company a “sector perform” rating in a report on Friday, April 24th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $139.35.

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.