Colrain Capital LLC Takes Position in Newmont Co. (NYSE:NEM)

Colrain Capital LLC has acquired a new stake in Newmont Co. (NYSE:NEM - Free Report) during the fourth quarter, as indicated in their latest 13F filing with the SEC. The firm purchased 102,750 shares, which are valued at around $3,824,000. This investment makes up approximately 3.7% of Colrain Capital LLC's total portfolio, positioning Newmont as the 11th largest holding in their investments.

Other Institutional Investments

Recently, several other major investors have also engaged with Newmont's shares. Among them, Norges Bank established a notable new position in the company valued at about $626 million in the fourth quarter. Meanwhile, Zurich Insurance Group Ltd FI invested roughly $98 million during the third quarter. Allianz SE acquired a new stake valued at around $65 million in the fourth quarter as well. Additionally, Nordea Investment Management AB increased its holdings dramatically by 173.0% in the fourth quarter, now owning approximately 2.49 million shares worth $92.83 million after purchasing an extra 1.58 million shares. Furthermore, Amundi raised its stake by 14.0%, owning 12.3 million shares valued at about $481.4 million after acquiring an additional 1.51 million shares during the last quarter. It is noteworthy that institutional investors currently hold about 68.85% of Newmont's stock.

Recent Insider Activity

In other developments, there have been some recent insider transactions at Newmont. EVP Peter Toth sold 3,000 shares of the company on January 10th at an average price of $40.00, totaling $120,000. Following this sale, Toth has 82,596 shares left, valued at roughly $3.3 million—a decrease of about 3.50% in his holdings. COO Natascha Viljoen also sold shares on the same day, offloading 9,000 shares at the same average price, amounting to $360,000. Post-transaction, she now owns 145,967 shares worth about $5.84 million, marking a 5.81% reduction in her share position. Over the last ninety days, insiders sold a total of 33,231 shares valued at approximately $1.39 million. It appears that insider ownership stands at around 0.05% of the company's total shares.

Current Stock Performance

As of Monday, shares of NEM opened at $48.06. The company’s fifty-day moving average is $44.78, and the 200-day moving average is $45.42. Newmont's stock has seen a 12-month low of $36.10 and a high of $58.72, and it currently boasts a market capitalization of $54.17 billion. The stock has a price-to-earnings (P/E) ratio of 16.40, a price/earnings to growth (P/E/G) ratio of 0.41, and a beta of 0.54. Its quick ratio is at 1.73, the current ratio is 1.96, and the debt-to-equity ratio sits at 0.30.

Recent Earnings Report

Newmont Co. revealed its earnings on February 20th, reporting earnings of $1.40 per share, which exceeded analysts' expectations of $1.11 by $0.29. With a net margin of 17.92% and a return on equity of 13.52%, the company reported revenues of $5.65 billion for the quarter, outstripping the consensus estimate of $5.32 billion. Analysts expect Newmont to record earnings of approximately $3.45 per share in the current fiscal year.

Dividend Information

The company recently declared a quarterly dividend of $0.25 per share, which was paid on March 27th to all shareholders on record by March 4th. The ex-dividend date was March 4th as well. This annual payout equals $1.00 per share, yielding 2.08%. Newmont's current payout ratio stands at 34.13%.

Analyst Ratings

A variety of analysts have recently updated their viewpoints on NEM shares. On January 13th, Goldman Sachs initiated coverage with a “buy” rating and issued a price target of $47.20. Scotiabank revised their price target downwards from $52.00 to $50.00, assigning a “sector perform” rating. Royal Bank of Canada raised their target from $47.00 to $52.00, maintaining a “sector perform” rating on the stock. National Bank Financial upgraded shares to a “hold” rating on March 21st, while TD Securities reduced their price target from $46.00 to $45.00 and maintained a “hold” rating. Opinions vary, with one analyst rating the stock as a “sell,” eight providing a “hold,” and nine issuing a “buy” rating, while two analysts present a “strong buy.” Currently, the stock enjoys a consensus rating of “Moderate Buy,” with an average target price of $53.16.

Company Overview

Newmont Corporation is primarily involved in gold production and exploration, also examining resources such as copper, silver, zinc, and lead. The company operates or owns assets in several countries, including the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.

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