Perpetual Ltd Purchases 14,556 Shares of Newmont Corporation $NEM

Perpetual Ltd grew its position in shares of Newmont Corporation (NYSE:NEM) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 412,871 shares of the basic materials company’s stock after acquiring an additional 14,556 shares during the quarter. Perpetual Ltd’s holdings in Newmont were worth $41,225,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. GoalVest Advisory LLC acquired a new position in Newmont during the fourth quarter worth $25,000. Physician Wealth Advisors Inc. increased its stake in Newmont by 327.8% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock valued at $26,000 after buying an additional 236 shares during the last quarter. JPL Wealth Management LLC bought a new stake in Newmont during the 3rd quarter worth about $27,000. Lodestone Wealth Management LLC bought a new stake in Newmont during the 4th quarter worth about $28,000. Finally, Capital A Wealth Management LLC boosted its stake in shares of Newmont by 1,648.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock worth $30,000 after buying an additional 478 shares during the last quarter. 68.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NEM shares. Scotiabank lowered their target price on Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a research report on Friday, March 20th. The Goldman Sachs Group increased their price target on Newmont from $99.90 to $123.90 and gave the company a “buy” rating in a research report on Monday, January 12th. Jefferies Financial Group raised their price target on Newmont from $158.00 to $162.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. DZ Bank raised Newmont to a “strong-buy” rating in a research report on Monday, January 19th. Finally, TD Cowen increased their price objective on Newmont from $89.00 to $120.00 and gave the company a “hold” rating in a report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Newmont currently has a consensus rating of “Buy” and an average target price of $133.78.

Newmont Stock Performance

Shares of NYSE NEM opened at $114.13 on Friday. The company has a current ratio of 2.29, a quick ratio of 2.02 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $123.26 billion, a P/E ratio of 17.86, a P/E/G ratio of 0.88 and a beta of 0.46. Newmont Corporation has a 12 month low of $42.93 and a 12 month high of $134.88. The stock has a 50 day moving average of $116.13 and a 200-day moving average of $101.36.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.71. Newmont had a return on equity of 23.28% and a net margin of 31.25%.The business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.18 billion. During the same quarter in the prior year, the business earned $1.40 EPS. The firm’s revenue for the quarter was up 20.6% on a year-over-year basis. As a group, equities research analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Tuesday, March 3rd were given a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, March 3rd. This is a boost from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 0.9%. Newmont’s payout ratio is currently 16.28%.

Insider Transactions at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $113.09, for a total value of $339,270.00. Following the transaction, the executive vice president owned 52,315 shares in the company, valued at approximately $5,916,303.35. This represents a 5.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David James Fry sold 18,394 shares of the 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 completion of the transaction, the insider directly owned 17,147 shares in the company, valued at approximately $1,911,033.15. This represents a 51.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 24,394 shares of company stock valued at $2,713,281. 0.05% of the stock is currently owned by corporate insiders.

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.