Newmont Corporation $NEM Shares Sold by Greenfield Seitz Capital Management LLC

Greenfield Seitz Capital Management LLC lessened its holdings in Newmont Corporation (NYSE:NEM) by 22.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 38,094 shares of the basic materials company’s stock after selling 10,979 shares during the quarter. Greenfield Seitz Capital Management LLC’s holdings in Newmont were worth $3,212,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NEM. Norges Bank purchased a new stake in Newmont in the 2nd quarter worth $919,170,000. Invesco Ltd. raised its position in shares of Newmont by 45.0% during the 2nd quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock worth $908,152,000 after purchasing an additional 4,839,447 shares during the last quarter. Boston Partners raised its position in shares of Newmont by 4,090.7% during the 2nd quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock worth $272,558,000 after purchasing an additional 4,532,263 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Newmont by 172.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 4,304,215 shares of the basic materials company’s stock valued at $362,888,000 after buying an additional 2,723,044 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Newmont by 106.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,155,210 shares of the basic materials company’s stock valued at $349,288,000 after buying an additional 2,146,905 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on NEM shares. Argus increased their target price on Newmont from $75.00 to $94.00 in a report on Friday, November 21st. BMO Capital Markets reduced their target price on shares of Newmont from $145.00 to $140.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. The Goldman Sachs Group raised their price target on shares of Newmont from $99.90 to $123.90 and gave the stock a “buy” rating in a research note on Monday, January 12th. Raymond James Financial upped their price objective on shares of Newmont from $111.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, January 15th. Finally, Jefferies Financial Group raised their target price on shares of Newmont from $158.00 to $162.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Newmont has a consensus rating of “Buy” and a consensus target price of $134.15.

Newmont Stock Up 0.7%

Shares of NYSE:NEM opened at $110.97 on Wednesday. The firm has a market capitalization of $120.72 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 0.85 and a beta of 0.39. Newmont Corporation has a 1 year low of $42.93 and a 1 year high of $134.88. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.02. The firm’s 50-day moving average is $118.89 and its two-hundred day moving average is $99.20.

Newmont (NYSE:NEM) last released its 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. The firm had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.18 billion. Newmont had a return on equity of 23.28% and a net margin of 31.25%.Newmont’s revenue was up 20.6% compared to the same quarter last year. During the same period last year, the business posted $1.40 earnings per share. Analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 3rd will be paid a $0.26 dividend. This is an increase from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, March 3rd. Newmont’s payout ratio is currently 16.28%.

About Newmont

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.