Baader Bank Aktiengesellschaft Has $2.06 Million Stake in Newmont Corporation $NEM

Baader Bank Aktiengesellschaft lowered its stake in shares of Newmont Corporation (NYSE:NEM) by 39.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 20,952 shares of the basic materials company’s stock after selling 13,635 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Newmont were worth $2,058,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Western Wealth Management LLC lifted its position in shares of Newmont by 2.6% during the 4th quarter. Western Wealth Management LLC now owns 23,007 shares of the basic materials company’s stock worth $2,297,000 after buying an additional 578 shares in the last quarter. Allworth Financial LP grew its stake in Newmont by 21.8% in the 4th quarter. Allworth Financial LP now owns 16,023 shares of the basic materials company’s stock valued at $1,600,000 after buying an additional 2,868 shares in the last quarter. Mainsail Asset Management LLC purchased a new position in Newmont in the 4th quarter valued at approximately $222,000. Catalyst Financial Partners LLC grew its stake in Newmont by 24.2% in the 4th quarter. Catalyst Financial Partners LLC now owns 4,941 shares of the basic materials company’s stock valued at $493,000 after buying an additional 963 shares in the last quarter. Finally, Ameritas Advisory Services LLC grew its position in shares of Newmont by 150.3% during the 4th quarter. Ameritas Advisory Services LLC now owns 31,139 shares of the basic materials company’s stock valued at $3,109,000 after purchasing an additional 18,696 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Raymond James Financial raised their target price on shares of Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, January 15th. The Goldman Sachs Group boosted their price target on shares of Newmont from $123.20 to $125.10 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Jefferies Financial Group boosted their price target on shares of Newmont from $162.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, April 10th. Stifel Nicolaus upped their price objective on shares of Newmont from $120.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Finally, Argus increased their price target on shares of Newmont from $94.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average price target of $142.51.

Insider Buying and Selling at Newmont

In other Newmont news, insider David James Fry sold 18,394 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the transaction, the insider directly owned 17,147 shares in the company, valued at approximately $1,911,033.15. This trade represents a 51.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Wexler sold 13,378 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 $1,473,051.58. Following the sale, the executive vice president owned 67,865 shares in the company, valued at $7,472,615.15. The trade was 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. Insiders have sold a total of 43,068 shares of company stock valued at $4,769,475 over the last three months. Insiders own 0.06% of the company’s stock.

Newmont Trading Down 0.6%

NYSE:NEM opened at $118.99 on Thursday. The company’s 50 day moving average price is $112.20 and its 200-day moving average price is $106.79. Newmont Corporation has a 52 week low of $48.27 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 stock has a market cap of $127.02 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.66 and a beta of 0.43.

Newmont (NYSE:NEM) last posted its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $6.83 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. The business’s revenue for the quarter was up 45.8% on a year-over-year basis. On average, equities research analysts forecast that Newmont Corporation will post 9.72 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 annualized dividend and a yield of 0.9%. Newmont’s dividend payout ratio (DPR) is currently 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.