Quantinno Capital Management LP lifted its holdings in Newmont Corporation (NYSE:NEM – Free Report) by 12.5% in the first quarter, Holdings Channel reports. The fund owned 496,742 shares of the basic materials company’s stock after purchasing an additional 55,176 shares during the quarter. Quantinno Capital Management LP’s holdings in Newmont were worth $53,772,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in shares of Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after purchasing an additional 1,847 shares during the period. Woodline Partners LP raised its holdings in Newmont by 40.7% during the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock valued at $4,644,000 after buying an additional 27,813 shares during the period. Sivia Capital Partners LLC purchased a new stake in Newmont during the 2nd quarter valued at $240,000. Cerity Partners LLC lifted its position in Newmont by 108.9% in the second quarter. Cerity Partners LLC now owns 125,355 shares of the basic materials company’s stock worth $7,303,000 after buying an additional 65,342 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in Newmont by 8.5% in the second quarter. NewEdge Advisors LLC now owns 48,982 shares of the basic materials company’s stock worth $2,854,000 after buying an additional 3,856 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.
Analyst Ratings Changes
A number of research firms have weighed in on NEM. Macquarie Infrastructure cut their price objective on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday, June 15th. BNP Paribas Exane lowered their target price on shares of Newmont from $111.00 to $102.00 and set a “neutral” rating for the company in a report on Tuesday, July 21st. Wall Street Zen cut shares of Newmont from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Barclays cut their price target on shares of Newmont from $125.00 to $124.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Bank of America reduced their price objective on shares of Newmont from $157.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $132.83.
Insider Activity at Newmont
In other news, EVP Peter Wexler sold 13,378 shares of Newmont stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $1,473,051.58. Following the completion of the sale, the executive vice president owned 67,865 shares of the company’s stock, valued at approximately $7,472,615.15. The trade was a 16.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $92.38, for a total value of $277,140.00. Following the completion of the sale, the executive vice president owned 43,315 shares of the company’s stock, valued at $4,001,439.70. The trade was a 6.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 28,556 shares of company stock worth $3,058,146. Corporate insiders own 0.06% of the company’s stock.
Newmont Stock Performance
Shares of Newmont stock opened at $91.34 on Thursday. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. The stock’s fifty day moving average is $99.02 and its two-hundred day moving average is $109.65. Newmont Corporation has a 52 week low of $61.76 and a 52 week high of $134.88. The company has a market capitalization of $96.24 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 1.02 and a beta of 0.46.
Newmont (NYSE:NEM – Get Free Report) last released its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.05. The business had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.35 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%.During the same period last year, the company earned $1.43 earnings per share. As a group, analysts expect that Newmont Corporation will post 8.99 earnings per share for the current year.
Newmont Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be issued a dividend of $0.26 per share. The ex-dividend date is Thursday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 1.1%. Newmont’s dividend payout ratio (DPR) is presently 13.13%.
Newmont Company 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.
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