Peterson Wealth Services Sells 8,168 Shares of Newmont Corporation $NEM

Peterson Wealth Services reduced its position in shares of Newmont Corporation (NYSE:NEM) by 75.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,724 shares of the basic materials company’s stock after selling 8,168 shares during the quarter. Peterson Wealth Services’ holdings in Newmont were worth $272,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Newmont by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company’s stock worth $13,390,613,000 after acquiring an additional 637,996 shares in the last quarter. Geode Capital Management LLC raised its stake in Newmont by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 27,011,084 shares of the basic materials company’s stock valued at $2,738,756,000 after buying an additional 946,824 shares during the period. Norges Bank bought a new stake in Newmont in the fourth quarter valued at approximately $1,443,128,000. Bank of New York Mellon Corp raised its stake in Newmont by 6.7% in the fourth quarter. Bank of New York Mellon Corp now owns 11,622,479 shares of the basic materials company’s stock valued at $1,160,505,000 after buying an additional 725,012 shares during the period. Finally, Legal & General Group Plc raised its stake in Newmont by 9.6% in the third quarter. Legal & General Group Plc now owns 8,156,669 shares of the basic materials company’s stock valued at $687,223,000 after buying an additional 711,940 shares during the period. 68.85% of the stock is owned by institutional investors.

Insider Transactions at Newmont

In other Newmont news, EVP Peter Wexler sold 13,378 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $1,473,051.58. Following the transaction, the executive vice president directly owned 67,865 shares of the company’s stock, valued at $7,472,615.15. This trade represents a 16.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the transaction, the insider owned 23,163 shares in the company, valued at approximately $2,550,477.93. The trade was a 9.02% decrease in their position. 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. Over the last quarter, insiders sold 49,950 shares of company stock worth $5,494,288. Corporate insiders own 0.06% of the company’s stock.

Newmont Price Performance

Newmont stock opened at $97.52 on Friday. The stock’s fifty day moving average price is $111.21 and its two-hundred day moving average price is $110.05. Newmont Corporation has a one year low of $54.14 and a one year high of $134.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. The firm has a market cap of $104.11 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 1.54 and a beta of 0.42.

Newmont (NYSE:NEM) last released its earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $6.83 billion. During the same period last year, the firm earned $1.25 EPS. The business’s quarterly revenue was up 45.8% compared to the same quarter last year. As a group, research analysts expect that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is currently 13.49%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Canadian Imperial Bank of Commerce set a $175.00 price objective on Newmont and gave the company an “outperform” rating in a research note on Monday, June 1st. Argus upped their price objective on Newmont from $94.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Canaccord Genuity Group upped their price objective on Newmont from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Royal Bank Of Canada dropped their price objective on shares of Newmont from $160.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 3rd. Finally, UBS Group dropped their price objective on shares of Newmont from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Two equities research 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $142.26.

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.