University of Texas Texas AM Investment Management Co. Buys New Position in Newmont Corporation $NEM

University of Texas Texas AM Investment Management Co. bought a new position in shares of Newmont Corporation (NYSE:NEM) in the 4th quarter, Holdings Channel reports. The fund bought 10,404 shares of the basic materials company’s stock, valued at approximately $1,039,000.

Several other institutional investors have also recently added to or reduced their stakes in NEM. GoalVest Advisory LLC acquired a new stake in shares of Newmont during the 4th quarter worth approximately $25,000. Swiss RE Ltd. acquired a new position in shares of Newmont during the 4th quarter valued at $26,000. Cornerstone Planning Group LLC boosted its stake 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 acquiring an additional 206 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in Newmont in the third quarter worth $27,000. Finally, Lodestone Wealth Management LLC acquired a new stake in Newmont in the fourth quarter worth $28,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $315,960.00. Following the transaction, the executive vice president owned 46,315 shares in the company, valued at $4,877,895.80. The trade was a 6.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Wexler sold 13,378 shares of the stock in a transaction that occurred on 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 sale, the executive vice president directly owned 67,865 shares of the company’s stock, valued at $7,472,615.15. The trade was a 16.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 in the last three months. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NEM. Bank of America upped their price objective on shares of Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a report on Thursday, February 26th. BMO Capital Markets upped their price target on Newmont from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Zacks Research lowered Newmont from a “strong-buy” rating to a “hold” rating in a report on Friday, April 3rd. Argus raised 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. Finally, Royal Bank Of Canada decreased their price objective on Newmont from $160.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $141.79.

Newmont Stock Performance

Shares of Newmont stock opened at $105.77 on Tuesday. Newmont Corporation has a 52 week low of $55.37 and a 52 week high of $134.88. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average price of $110.78 and a 200-day moving average price of $110.28. The company has a market cap of $112.91 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 1.66 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 (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $6.83 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. Newmont’s revenue was up 45.8% compared to the same quarter last year. Equities analysts anticipate that Newmont Corporation will post 9.91 earnings per share for the current fiscal year.

Newmont Announces Dividend

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. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 1.0%. Newmont’s payout ratio is 13.49%.

Newmont 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.