Lockheed Martin Investment Management Co. Buys 105,200 Shares of Newmont Corporation $NEM

Lockheed Martin Investment Management Co. raised its stake in Newmont Corporation (NYSE:NEM) by 373.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 133,400 shares of the basic materials company’s stock after acquiring an additional 105,200 shares during the period. Lockheed Martin Investment Management Co.’s holdings in Newmont were worth $13,320,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Newmont by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 134,107,293 shares of the basic materials company’s stock valued at $13,390,613,000 after acquiring an additional 637,996 shares during the last quarter. Legal & General Group Plc increased its holdings in Newmont by 9.6% in the 3rd quarter. Legal & General Group Plc now owns 8,156,669 shares of the basic materials company’s stock valued at $687,223,000 after acquiring an additional 711,940 shares during the last quarter. Boston Partners increased its holdings in Newmont by 49.3% in the 3rd quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock valued at $585,828,000 after acquiring an additional 2,288,653 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Newmont by 16.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,996,775 shares of the basic materials company’s stock valued at $498,928,000 after acquiring an additional 692,560 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Newmont by 33.8% in the 3rd quarter. Victory Capital Management Inc. now owns 4,925,237 shares of the basic materials company’s stock valued at $414,270,000 after acquiring an additional 1,244,845 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NEM has been the topic of a number of research reports. TD Cowen reiterated a “buy” rating on shares of Newmont in a report on Monday, April 27th. Canaccord Genuity Group lifted their price objective on shares of Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. DZ Bank raised shares of Newmont to a “strong-buy” rating in a research note on Monday, January 19th. Wall Street Zen raised shares of Newmont from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Argus lifted their price objective 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 equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.51.

Newmont Price Performance

NEM stock opened at $108.93 on Friday. Newmont Corporation has a 12 month low of $48.61 and a 12 month high of $134.88. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $111.96 and a 200 day moving average price of $107.04. The stock has a market cap of $116.29 billion, a PE ratio of 14.13, a P/E/G ratio of 1.62 and a beta of 0.43.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 EPS 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 previous year, the company earned $1.25 EPS. The firm’s revenue for the quarter was up 45.8% compared to the same quarter last year. Equities research analysts anticipate that Newmont Corporation will post 9.72 earnings per share for the current 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 paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. Newmont’s payout ratio is currently 13.49%.

Insider Activity

In related news, insider David James Fry sold 18,394 shares of Newmont 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 of the company’s stock, valued at approximately $1,911,033.15. The trade was a 51.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $252,812.56. Following the transaction, the insider directly owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. This represents a 9.02% decrease in their ownership of the stock. 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. Insiders sold a total of 43,068 shares of company stock valued at $4,769,475 in the last quarter. 0.06% of the stock is currently owned by company 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.