ProShare Advisors LLC Purchases 8,383 Shares of Newmont Corporation $NEM

ProShare Advisors LLC boosted its position in Newmont Corporation (NYSE:NEM) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 233,835 shares of the basic materials company’s stock after purchasing an additional 8,383 shares during the period. ProShare Advisors LLC’s holdings in Newmont were worth $23,348,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Apella Capital LLC raised its position in Newmont by 4.1% in the fourth quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock worth $219,000 after acquiring an additional 86 shares during the period. New Wave Wealth Advisors LLC boosted its position in shares of Newmont by 1.3% in the fourth quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock worth $684,000 after purchasing an additional 88 shares during the period. Novem Group increased its stake in shares of Newmont by 3.7% in the fourth quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock worth $248,000 after purchasing an additional 88 shares in the last quarter. Norden Group LLC increased its stake in shares of Newmont by 0.7% in the fourth quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock worth $1,235,000 after purchasing an additional 90 shares in the last quarter. Finally, Coston McIsaac & Partners raised its position in shares of Newmont by 28.6% during the 4th quarter. Coston McIsaac & Partners now owns 450 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 100 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NEM. The Goldman Sachs Group upped their target price on shares of Newmont from $123.20 to $125.10 and gave the stock a “buy” rating in a report on Tuesday, April 28th. National Bank Financial raised their price target on Newmont from $130.00 to $140.00 and gave the company a “sector perform” rating in a report on Friday, April 24th. BNP Paribas Exane boosted their price objective on Newmont from $123.00 to $128.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. Canaccord Genuity Group upped their price objective on Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, Canadian Imperial Bank of Commerce cut their target price on Newmont from $177.00 to $176.00 and set an “outperform” rating for the company in a research report on Tuesday, April 21st. One 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 stock. Based on data from MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.51.

Newmont Stock Performance

NEM opened at $107.36 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The stock has a market capitalization of $114.61 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 1.50 and a beta of 0.43. The company has a fifty day moving average of $111.41 and a 200 day moving average of $107.81. Newmont Corporation has a fifty-two week low of $51.80 and a fifty-two week high of $134.88.

Newmont (NYSE:NEM) last released its quarterly earnings data 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 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 firm earned $1.25 EPS. The business’s revenue was up 45.8% on a year-over-year basis. As a group, sell-side analysts forecast that Newmont Corporation will post 9.47 earnings per share for the current fiscal 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 yield of 1.0%. Newmont’s dividend payout ratio is presently 13.49%.

Insider Transactions at Newmont

In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $110.11, for a total transaction of $330,330.00. Following the completion of the transaction, the executive vice president directly owned 49,315 shares in the company, valued at approximately $5,430,074.65. This represents a 5.73% decrease in their position. The transaction was disclosed in a legal 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. Also, insider David John Thornton sold 2,296 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 $252,812.56. Following the completion of the transaction, the insider directly owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. This trade 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. Over the last 90 days, insiders have sold 43,068 shares of company stock worth $4,769,475. 0.06% of the stock is owned by corporate insiders.

Newmont Company 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.