QRG Capital Management Inc. Sells 274,733 Shares of Newmont Corporation $NEM

QRG Capital Management Inc. lessened its holdings in Newmont Corporation (NYSE:NEM) by 54.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 225,792 shares of the basic materials company’s stock after selling 274,733 shares during the quarter. QRG Capital Management Inc.’s holdings in Newmont were worth $19,036,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NEM. Envestnet Asset Management Inc. grew its position in Newmont by 176.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 447,960 shares of the basic materials company’s stock worth $26,098,000 after purchasing an additional 285,897 shares during the period. Knights of Columbus Asset Advisors LLC raised its position in Newmont by 59.6% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 15,653 shares of the basic materials company’s stock worth $912,000 after acquiring an additional 5,848 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of Newmont by 172.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock worth $362,888,000 after buying an additional 2,723,044 shares during the period. Generate Investment Management Ltd grew its stake in shares of Newmont by 25.9% during the 2nd quarter. Generate Investment Management Ltd now owns 378,975 shares of the basic materials company’s stock valued at $22,079,000 after acquiring an additional 77,865 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in Newmont by 73.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 30,056 shares of the basic materials company’s stock worth $2,534,000 after acquiring an additional 12,717 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Bank of America upped their price target on shares of Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. UBS Group raised their price target on Newmont from $105.50 to $125.00 and gave the company a “buy” rating in a report on Monday, December 1st. Wall Street Zen lowered Newmont from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 2nd. Argus lifted their target price on Newmont from $75.00 to $94.00 in a research note on Friday, November 21st. Finally, Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $71.50 to $114.00 in a report on Thursday, October 23rd. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $99.35.

Newmont Trading Down 0.0%

Shares of NEM opened at $114.17 on Friday. The stock has a market capitalization of $124.59 billion, a PE ratio of 17.73, a P/E/G ratio of 0.85 and a beta of 0.41. The company’s fifty day moving average is $97.58 and its 200 day moving average is $82.51. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. Newmont Corporation has a fifty-two week low of $40.85 and a fifty-two week high of $115.70.

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

Newmont Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is 15.53%.

Insiders Place Their Bets

In other Newmont news, CEO Thomas Ronald Palmer sold 5,000 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the sale, the chief executive officer directly owned 279,923 shares in the company, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the sale, the director owned 32,709 shares in the company, valued at $3,021,003.24. The trade was a 5.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,160 shares of company stock valued at $767,206 over the last three months. Insiders own 0.05% of the company’s stock.

Newmont Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.