Howard Capital Management Inc. Sells 753 Shares of Newmont Corporation (NYSE:NEM)

Howard Capital Management Inc. trimmed its position in shares of Newmont Corporation (NYSE:NEM) by 13.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,900 shares of the basic materials company’s stock after selling 753 shares during the period. Howard Capital Management Inc.’s holdings in Newmont were worth $237,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of Newmont by 8.9% during the 1st quarter. Bank of New York Mellon Corp now owns 16,014,066 shares of the basic materials company’s stock valued at $773,159,000 after purchasing an additional 1,306,783 shares during the period. Northern Trust Corp raised its position in shares of Newmont by 11.5% during the 4th quarter. Northern Trust Corp now owns 12,742,155 shares of the basic materials company’s stock valued at $474,263,000 after purchasing an additional 1,309,177 shares during the period. Invesco Ltd. raised its position in shares of Newmont by 23.9% during the 4th quarter. Invesco Ltd. now owns 10,520,354 shares of the basic materials company’s stock valued at $391,568,000 after purchasing an additional 2,028,150 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Newmont by 16.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,407,995 shares of the basic materials company’s stock valued at $350,166,000 after purchasing an additional 1,331,278 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Newmont by 9.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,571,240 shares of the basic materials company’s stock valued at $281,797,000 after purchasing an additional 630,031 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $176,250.00. Following the completion of the sale, the executive vice president owned 74,526 shares in the company, valued at $4,378,402.50. This trade represents a 3.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bruce R. Brook sold 2,077 shares of Newmont stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $58.75, for a total transaction of $122,023.75. Following the sale, the director owned 43,103 shares of the company’s stock, valued at $2,532,301.25. The trade was a 4.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,154 shares of company stock valued at $572,889 in the last 90 days. Company insiders own 0.05% of the company’s stock.

Analyst Ratings Changes

NEM has been the topic of several recent analyst reports. Cfra Research upgraded shares of Newmont to a “strong-buy” rating in a research report on Friday, April 25th. National Bankshares raised shares of Newmont from a “sector perform” rating to an “outperform” rating in a research note on Friday, July 25th. CIBC set a $74.00 target price on shares of Newmont and gave the company a “neutral” rating in a research note on Tuesday, July 15th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $60.90 target price on shares of Newmont in a research note on Tuesday, July 8th. Finally, Wall Street Zen raised shares of Newmont from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $64.58.

Newmont Stock Performance

Shares of NYSE:NEM opened at $62.61 on Friday. Newmont Corporation has a 52 week low of $36.86 and a 52 week high of $66.57. The stock has a market capitalization of $68.77 billion, a P/E ratio of 11.24, a PEG ratio of 0.76 and a beta of 0.30. The firm has a fifty day simple moving average of $58.10 and a two-hundred day simple moving average of $51.28. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23.

Newmont (NYSE:NEM) last released its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.48. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The business’s revenue was up 20.8% on a year-over-year basis. During the same quarter last year, the business earned $0.72 EPS. On average, analysts expect that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Thursday, September 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Thursday, September 4th. Newmont’s dividend payout ratio (DPR) is 17.95%.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.