Rossby Financial LCC Sells 377 Shares of Newmont Corporation $NEM

Rossby Financial LCC lowered its stake in shares of Newmont Corporation (NYSE:NEM) by 7.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,782 shares of the basic materials company’s stock after selling 377 shares during the quarter. Rossby Financial LCC’s holdings in Newmont were worth $279,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Hemington Wealth Management grew its holdings in Newmont by 17.6% during the 2nd quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock worth $66,000 after acquiring an additional 170 shares during the last quarter. IVC Wealth Advisors LLC boosted its stake in shares of Newmont by 1.3% in the 2nd quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock valued at $813,000 after purchasing an additional 173 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Newmont by 11.9% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 185 shares during the last quarter. Aaron Wealth Advisors LLC boosted its stake in shares of Newmont by 4.4% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 4,460 shares of the basic materials company’s stock valued at $260,000 after purchasing an additional 190 shares during the last quarter. Finally, Chelsea Counsel Co. boosted its stake in shares of Newmont by 1.0% in the 2nd quarter. Chelsea Counsel Co. now owns 18,320 shares of the basic materials company’s stock valued at $1,067,000 after purchasing an additional 190 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

Shares of NYSE:NEM opened at $79.26 on Wednesday. The company has a market capitalization of $86.49 billion, a price-to-earnings ratio of 12.31, a P/E/G ratio of 0.53 and a beta of 0.34. The firm’s 50 day simple moving average is $81.59 and its 200 day simple moving average is $66.08. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $98.58.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. The business had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. Newmont’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period last year, the company posted $0.81 EPS. As a group, sell-side analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is currently 15.53%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NEM. TD Securities raised their target price on shares of Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Newmont from a “buy” rating to a “strong-buy” rating in a research note on Saturday. National Bankshares reaffirmed an “outperform” rating on shares of Newmont in a research note on Monday, September 22nd. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Finally, Zacks Research raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Five investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Newmont presently has a consensus rating of “Buy” and a consensus target price of $86.92.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the sale, the executive vice president directly owned 58,736 shares in the company, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Brian Tabolt sold 7,015 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the sale, the chief accounting officer owned 32,615 shares in the company, valued at $2,218,472.30. This trade represents a 17.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,249 shares of company stock worth $1,132,065 in the last ninety days. Company insiders own 0.05% of the company’s stock.

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.