Yousif Capital Management LLC Lowers Holdings in Newmont Corporation $NEM

Yousif Capital Management LLC cut its position in Newmont Corporation (NYSE:NEM) by 8.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 126,387 shares of the basic materials company’s stock after selling 11,027 shares during the quarter. Yousif Capital Management LLC’s holdings in Newmont were worth $12,620,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NEM. Brighton Jones LLC lifted its stake in 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 stake in Newmont by 40.7% in the 1st quarter. Woodline Partners LP now owns 96,182 shares of the basic materials company’s stock worth $4,644,000 after purchasing an additional 27,813 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Newmont in the 2nd quarter worth approximately $240,000. CW Advisors LLC lifted its stake in Newmont by 88.5% in the 2nd quarter. CW Advisors LLC now owns 8,032 shares of the basic materials company’s stock worth $468,000 after purchasing an additional 3,771 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Newmont by 140.5% in the 2nd quarter. First Trust Advisors LP now owns 655,722 shares of the basic materials company’s stock worth $38,202,000 after purchasing an additional 383,042 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider David James Fry sold 18,394 shares of Newmont stock in a transaction on Monday, March 16th. The shares were sold at an average price of $111.45, for a total value of $2,050,011.30. Following the transaction, the insider owned 17,147 shares in the company, valued at $1,911,033.15. This trade represents a 51.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $113.09, for a total transaction of $339,270.00. Following the completion of the transaction, the executive vice president owned 52,315 shares in the company, valued at $5,916,303.35. The trade was a 5.42% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 24,394 shares of company stock worth $2,713,281. 0.05% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NEM has been the topic of several research reports. Zacks Research cut shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 3rd. Citigroup raised their price objective on shares of Newmont from $118.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Wall Street Zen cut shares of Newmont from a “buy” rating to a “hold” rating in a research report on Saturday, April 4th. Bank of America raised their price objective on shares of Newmont from $134.00 to $151.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Finally, National Bank Financial raised their price objective on shares of Newmont from $120.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $133.78.

Newmont Price Performance

Shares of NYSE:NEM opened at $118.06 on Thursday. The stock has a market cap of $127.49 billion, a PE ratio of 18.47, a PEG ratio of 0.88 and a beta of 0.46. The company’s fifty day moving average is $115.33 and its 200 day moving average is $102.26. Newmont Corporation has a 52 week low of $45.72 and a 52 week high of $134.88. The company has a quick ratio of 2.02, a current ratio of 2.29 and a debt-to-equity ratio of 0.16.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, February 19th. The basic materials company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.71. The company had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.18 billion. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The firm’s revenue was up 20.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.40 EPS. Research analysts anticipate that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Tuesday, March 3rd were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, March 3rd. This is a boost from Newmont’s previous quarterly dividend of $0.25. Newmont’s dividend payout ratio is 16.28%.

Newmont 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.