Waterloo Capital L.P. Increases Position in Newmont Corporation $NEM

Waterloo Capital L.P. raised its stake in shares of Newmont Corporation (NYSE:NEM) by 230.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,369 shares of the basic materials company’s stock after purchasing an additional 10,015 shares during the period. Waterloo Capital L.P.’s holdings in Newmont were worth $1,435,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GoalVest Advisory LLC acquired a new position in Newmont during the fourth quarter worth approximately $25,000. Physician Wealth Advisors Inc. increased its position in Newmont by 327.8% during the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 236 shares during the last quarter. Cornerstone Planning Group LLC increased 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 purchasing an additional 206 shares during the last quarter. JPL Wealth Management LLC acquired a new position in Newmont during the third quarter worth approximately $27,000. Finally, Lodestone Wealth Management LLC acquired a new position in Newmont during the fourth quarter worth approximately $28,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Down 0.2%

Shares of Newmont stock opened at $109.60 on Monday. The company has a fifty day moving average price of $110.89 and a 200 day moving average price of $109.10. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. Newmont Corporation has a twelve month low of $51.80 and a twelve month high of $134.88. The stock has a market cap of $117.01 billion, a price-to-earnings ratio of 14.22 and a beta of 0.42.

Newmont (NYSE:NEM) last announced its quarterly 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. Newmont had a net margin of 33.87% and a return on equity of 27.84%. The firm had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $6.83 billion. During the same period in the prior year, the company earned $1.25 EPS. The firm’s revenue was up 45.8% on a year-over-year basis. Equities research analysts forecast that Newmont Corporation will post 9.72 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is presently 13.49%.

Insider Activity

In related news, insider David James Fry sold 18,394 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider directly owned 17,147 shares of the company’s stock, valued at approximately $1,911,033.15. This trade represents a 51.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Toth sold 3,000 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 $330,330.00. Following the sale, the executive vice president directly owned 49,315 shares of the company’s stock, valued at approximately $5,430,074.65. The trade was a 5.73% 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. Insiders sold a total of 43,068 shares of company stock valued at $4,769,475 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

NEM has been the subject of several research analyst reports. Jefferies Financial Group dropped their price target on shares of Newmont from $165.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. TD upped their price target on shares of Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. Barclays assumed coverage on shares of Newmont in a research report on Thursday, May 21st. They set an “overweight” rating and a $133.00 price target for the company. Macquarie Infrastructure increased their price objective on shares of Newmont from $130.00 to $133.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Finally, Stifel Nicolaus lifted their target price on shares of Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Newmont presently has an average rating of “Moderate Buy” and an average price target of $141.53.

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.