Newmont Corporation $NEM Shares Sold by Rakuten Securities Inc.

Rakuten Securities Inc. lessened its holdings in Newmont Corporation (NYSE:NEM) by 36.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,648 shares of the basic materials company’s stock after selling 10,221 shares during the period. Rakuten Securities Inc.’s holdings in Newmont were worth $1,488,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in Newmont during the 2nd quarter valued at $919,170,000. Invesco Ltd. grew its stake in shares of Newmont by 45.0% during the second quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock valued at $908,152,000 after acquiring an additional 4,839,447 shares in the last quarter. Boston Partners increased its position in shares of Newmont by 4,090.7% during the second quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock worth $272,558,000 after acquiring an additional 4,532,263 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Newmont by 1,502.5% during the second quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock worth $273,391,000 after acquiring an additional 4,399,778 shares during the last quarter. Finally, LSV Asset Management acquired a new position in shares of Newmont in the second quarter worth about $187,206,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Newmont Stock Down 0.4%

Newmont stock opened at $114.14 on Thursday. 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 one year low of $40.35 and a one year high of $115.70. The company has a 50-day simple moving average of $96.33 and a 200-day simple moving average of $81.90. The firm has a market capitalization of $124.55 billion, a P/E ratio of 17.72, a P/E/G ratio of 0.85 and a beta of 0.41.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The firm 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 business posted $0.81 EPS. Newmont’s revenue was up 20.0% on a year-over-year basis. As a group, equities analysts expect that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Wednesday, November 26th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, November 26th. Newmont’s dividend payout ratio is 15.53%.

Insider Buying and Selling at Newmont

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value of $406,700.00. Following the transaction, the chief executive officer directly owned 279,923 shares in the company, valued at $22,768,936.82. The trade was a 1.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bruce R. Brook sold 2,080 shares of Newmont 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 completion of the transaction, the director directly owned 32,709 shares in the company, valued at $3,021,003.24. This represents a 5.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 9,160 shares of company stock valued at $767,206. Corporate insiders own 0.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NEM. Royal Bank Of Canada raised their price objective on Newmont from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Newmont in a research note on Monday, December 29th. CIBC set a $112.00 price target on shares of Newmont and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Raymond James Financial reaffirmed an “outperform” rating and issued a $111.00 price target on shares of Newmont in a report on Monday, December 29th. Finally, National Bankshares increased their price objective on shares of Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Newmont has an average rating of “Buy” and a consensus price target of $97.08.

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.