Newmont Corporation $NEM Position Decreased by Profund Advisors LLC

Profund Advisors LLC lessened its stake in shares of Newmont Corporation (NYSE:NEM) by 7.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 111,058 shares of the basic materials company’s stock after selling 8,840 shares during the period. Profund Advisors LLC’s holdings in Newmont were worth $6,470,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. King Luther Capital Management Corp raised its holdings in shares of Newmont by 0.5% during the 2nd quarter. King Luther Capital Management Corp now owns 59,536 shares of the basic materials company’s stock valued at $3,469,000 after purchasing an additional 308 shares in the last quarter. Roberts Glore & Co. Inc. IL increased its position in Newmont by 2.4% during the second quarter. Roberts Glore & Co. Inc. IL now owns 8,678 shares of the basic materials company’s stock worth $506,000 after acquiring an additional 200 shares during the period. Zions Bancorporation National Association UT grew its position in Newmont by 45.6% during the second quarter. Zions Bancorporation National Association UT now owns 1,507 shares of the basic materials company’s stock worth $88,000 after buying an additional 472 shares in the last quarter. Midwest Trust Co bought a new stake in shares of Newmont during the second quarter valued at approximately $4,424,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of Newmont by 1,306.1% during the 2nd quarter. Acadian Asset Management LLC now owns 783,798 shares of the basic materials company’s stock worth $45,653,000 after acquiring an additional 728,056 shares during the period. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $80.96, for a total value of $168,396.80. Following the sale, the director directly owned 34,789 shares of the company’s stock, valued at approximately $2,816,517.44. The trade was a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the transaction, the chief executive officer directly owned 279,923 shares in the company, valued at $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 11,237 shares of company stock worth $906,799. 0.05% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on NEM shares. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Macquarie lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 2nd. Citigroup increased their target price on Newmont from $74.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. TD Securities lifted their target price on Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group set a $104.30 price objective on shares of Newmont and gave the stock a “buy” rating in a report on Sunday, October 12th. Five analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $86.92.

Newmont Price Performance

Newmont stock opened at $83.39 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The firm has a market capitalization of $91.00 billion, a P/E ratio of 12.95, a PEG ratio of 0.53 and a beta of 0.33. Newmont Corporation has a one year low of $36.86 and a one year high of $98.58. The business has a fifty day moving average price of $83.14 and a 200-day moving average price of $67.65.

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

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 annualized dividend and a yield of 1.2%. Newmont’s dividend payout ratio is presently 15.53%.

Newmont Company Profile

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.