Mizuho Markets Cayman LP Sells 6,142 Shares of Newmont Corporation $NEM

Mizuho Markets Cayman LP reduced its position in Newmont Corporation (NYSE:NEM) by 17.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,135 shares of the basic materials company’s stock after selling 6,142 shares during the period. Mizuho Markets Cayman LP’s holdings in Newmont were worth $2,372,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC increased 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 in the last quarter. Woodline Partners LP lifted its holdings in shares of Newmont by 40.7% during the first quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock valued at $4,644,000 after purchasing an additional 27,813 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Newmont during the second quarter valued at $240,000. Creative Planning boosted its position in shares of Newmont by 16.0% during the second quarter. Creative Planning now owns 155,637 shares of the basic materials company’s stock valued at $9,067,000 after buying an additional 21,508 shares during the last quarter. Finally, Intech Investment Management LLC increased its holdings in Newmont by 175.6% in the 2nd quarter. Intech Investment Management LLC now owns 137,791 shares of the basic materials company’s stock worth $8,028,000 after buying an additional 87,802 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Newmont Stock Up 0.6%

Newmont stock opened at $110.19 on Tuesday. The stock has a market cap of $119.87 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 0.85 and a beta of 0.39. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.02 and a current ratio of 2.29. The stock has a fifty day moving average of $118.86 and a 200 day moving average of $98.95. Newmont Corporation has a one year low of $42.93 and a one year high of $134.88.

Newmont (NYSE:NEM) last released its quarterly earnings results on Thursday, February 19th. The basic materials company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.71. Newmont had a return on equity of 23.28% and a net margin of 31.25%.The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.18 billion. During the same period in the previous year, the company posted $1.40 EPS. The business’s quarterly revenue was up 20.6% compared to the same quarter last year. As a group, sell-side analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Tuesday, March 3rd will be issued a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, March 3rd. This is a positive change from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. Newmont’s payout ratio is 16.28%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. DZ Bank raised Newmont to a “strong-buy” rating in a research report on Monday, January 19th. Scotiabank lifted their price target on shares of Newmont from $114.00 to $152.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Argus boosted their price objective on shares of Newmont from $75.00 to $94.00 in a report on Friday, November 21st. BNP Paribas Exane increased their price objective on shares of Newmont from $123.00 to $128.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. Finally, Canaccord Genuity Group raised their target price on shares of Newmont from $115.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $134.15.

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.