Colrain Capital LLC Acquires Shares in Newmont Co. (NYSE:NEM)

Colrain Capital LLC has established a new position in Newmont Co. (NYSE:NEM) during the fourth quarter, as indicated in their latest 13F filing with the SEC. The firm acquired 102,750 shares of the leading basic materials company's stock, which has an estimated value of around $3,824,000. Newmont represents about 3.7% of Colrain Capital LLC's total holdings, making it the firm's 11th largest investment.

Investments from Other Large Firms

Other significant investors have also made transactions involving Newmont's shares recently. Norges Bank entered a new position valued at approximately $626,074,000 during the fourth quarter. Meanwhile, Zurich Insurance Group Ltd FI purchased shares in Newmont in the third quarter worth about $98,011,000. Allianz SE also made a new investment during the fourth quarter totaling around $65,385,000. Furthermore, Nordea Investment Management AB increased its stake in Newmont by an impressive 173.0% during the fourth quarter, now holding a total of 2,491,126 shares valued at $92,832,000 after acquiring an additional 1,578,545 shares. Lastly, Amundi raised its ownership in Newmont by 14.0% during the same quarter, now possessing 12,302,579 shares valued at $481,400,000. Currently, institutional investors own approximately 68.85% of Newmont's stock.

Recent Insider Activity

In more recent developments, EVP Peter Toth sold 3,000 shares of Newmont on January 10th, at an average price of $40.00 per share, totaling $120,000. Following this sale, Toth now owns 82,596 shares valued at around $3,303,840, marking a 3.50% reduction in his total position. This transaction was recorded in a filing with the SEC. Additionally, COO Natascha Viljoen sold 9,000 shares on the same day, with a total transaction value of $360,000. Post-sale, she holds 145,967 shares valued at $5,838,680, reflecting a decrease of 5.81% in her position. Over the last three months, insiders at Newmont have sold 33,231 shares amounting to $1,388,758, and insiders now own only 0.05% of the company’s stock.

Performance of Newmont Stock

As of Monday, shares of Newmont were trading at $48.06. The company has a 50-day moving average of $44.78 and a 200-day moving average of $45.42. The stock has a 12-month low of $36.10 and a peak of $58.72. Newmont boasts a market capitalization of $54.17 billion, a price-to-earnings ratio (P/E) of 16.40, and a P/E/G ratio of 0.41. The stock has a quick ratio of 1.73 and a current ratio of 1.96, with a stable debt-to-equity ratio of 0.30.

Latest Earnings and Dividends

Newmont last reported its earnings on February 20th, showcasing earnings per share of $1.40 for the quarter, topping the analysts' average expectation of $1.11 by $0.29. The company achieved a net margin of 17.92% and return on equity of 13.52%. It generated revenue of $5.65 billion, surpassing the projected $5.32 billion. Analysts anticipate that Newmont will report earnings of approximately $3.45 per share for the current fiscal year.

Dividend Distribution

Newmont has recently announced a quarterly dividend to be distributed, with payments made on March 27th. Those holding shares as of March 4th received a dividend of $0.25 per share. This dividend equates to an annualized total of $1.00, yielding a 2.08%. The current payout ratio stands at 34.13%.

Analyst Opinions on Newmont

Company Overview

Newmont Corporation is involved in gold production and exploration, while also exploring for copper, silver, zinc, and lead. It possesses operations and assets across various 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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