Newmont Corporation $NEM Shares Sold by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. trimmed its position in Newmont Corporation (NYSE:NEM) by 7.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 42,572 shares of the basic materials company’s stock after selling 3,289 shares during the period. SBI Securities Co. Ltd.’s holdings in Newmont were worth $2,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in NEM. Brighton Jones LLC boosted its holdings in Newmont by 15.7% in the 4th quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock valued at $506,000 after purchasing an additional 1,847 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Newmont by 25.7% in the first quarter. Allworth Financial LP now owns 6,037 shares of the basic materials company’s stock valued at $291,000 after buying an additional 1,234 shares in the last quarter. Schechter Investment Advisors LLC acquired a new position in Newmont during the first quarter worth $218,000. CWM LLC raised its position in Newmont by 12.7% in the first quarter. CWM LLC now owns 18,670 shares of the basic materials company’s stock worth $901,000 after acquiring an additional 2,103 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its position in Newmont by 28.2% in the first quarter. Bleakley Financial Group LLC now owns 18,986 shares of the basic materials company’s stock worth $917,000 after acquiring an additional 4,179 shares in the last quarter. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Performance

NYSE NEM opened at $93.12 on Thursday. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The stock has a market cap of $101.62 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 0.53 and a beta of 0.33. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $98.58. The business has a fifty day moving average of $84.05 and a 200-day moving average of $68.31.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. The firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 EPS. As a group, analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Wednesday, November 26th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. Newmont’s dividend payout ratio is presently 15.53%.

Insider Buying and Selling

In other news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $80.96, for a total transaction of $168,396.80. Following the sale, the director owned 34,789 shares in the company, valued at $2,816,517.44. This trade represents a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Ronald Palmer sold 5,000 shares of Newmont stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total value of $406,700.00. Following the completion of the sale, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 11,237 shares of company stock worth $906,799. 0.05% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NEM has been the topic of a number of recent analyst reports. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $71.50 to $114.00 in a research note on Thursday, October 23rd. Zacks Research raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. The Goldman Sachs Group set a $104.30 price objective on Newmont and gave the company a “buy” rating in a research note on Sunday, October 12th. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Finally, Weiss Ratings cut Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, November 7th. Five analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.99.

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.