Clarius Group LLC Lowers Stake in Newmont Corporation $NEM

Clarius Group LLC lowered its position in shares of Newmont Corporation (NYSE:NEM) by 6.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,006 shares of the basic materials company’s stock after selling 472 shares during the quarter. Clarius Group LLC’s holdings in Newmont were worth $408,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Sava Infond d.o.o. purchased a new position in Newmont during the second quarter valued at approximately $233,000. 111 Capital purchased a new position in Newmont during the second quarter valued at approximately $1,882,000. QRG Capital Management Inc. raised its position in shares of Newmont by 34.9% during the second quarter. QRG Capital Management Inc. now owns 500,525 shares of the basic materials company’s stock valued at $29,161,000 after buying an additional 129,457 shares during the last quarter. Fortis Capital Advisors LLC bought a new stake in shares of Newmont during the second quarter valued at approximately $787,000. Finally, Ascent Group LLC raised its position in shares of Newmont by 74.8% during the second quarter. Ascent Group LLC now owns 13,657 shares of the basic materials company’s stock valued at $796,000 after buying an additional 5,844 shares during the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Trading Up 2.0%

NEM stock opened at $88.60 on Tuesday. 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 Corporation has a twelve month low of $36.86 and a twelve month high of $89.37. The stock has a market capitalization of $97.32 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 0.97 and a beta of 0.34. The firm’s fifty day simple moving average is $74.87 and its two-hundred day simple moving average is $61.56.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, July 24th. The basic materials company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.48. Newmont had a net margin of 30.50% and a return on equity of 17.86%. The business had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter in the previous year, the business posted $0.72 earnings per share. The business’s revenue was up 20.8% compared to the same quarter last year. As a group, analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Thursday, September 4th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Newmont’s payout ratio is 17.95%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NEM shares. Macquarie cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. UBS Group lifted their price objective on shares of Newmont from $70.00 to $92.00 and gave the company a “buy” rating in a research report on Friday, September 19th. The Goldman Sachs Group lifted their price objective on shares of Newmont from $63.10 to $77.30 and gave the company a “neutral” rating in a research report on Thursday, September 11th. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 4th. Finally, National Bankshares restated an “outperform” rating on shares of Newmont in a research report on Monday, September 22nd. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.18.

Insider Buying and Selling at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction 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 transaction, the executive vice president owned 58,736 shares in the company, valued at $3,739,133.76. The trade was a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Brian Tabolt sold 7,015 shares of the business’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total transaction of $477,160.30. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 16,249 shares of company stock worth $1,132,065 over the last quarter. Insiders own 0.05% of the company’s stock.

Newmont 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.