Envestnet Asset Management Inc. trimmed its holdings in shares of Newmont Co. (NYSE:NEM – Get Rating) by 4.7% during the second quarter, HoldingsChannel reports. The fund owned 224,156 shares of the basic materials company’s stock after selling 11,178 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Newmont were worth $13,375,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Truist Financial Corp lifted its position in shares of Newmont by 0.9% in the 1st quarter. Truist Financial Corp now owns 158,984 shares of the basic materials company’s stock worth $12,632,000 after purchasing an additional 1,490 shares during the period. Cerity Partners LLC lifted its position in shares of Newmont by 229.4% during the 1st quarter. Cerity Partners LLC now owns 16,087 shares of the basic materials company’s stock valued at $1,028,000 after acquiring an additional 11,204 shares during the period. Ieq Capital LLC raised its holdings in Newmont by 18.4% during the first quarter. Ieq Capital LLC now owns 11,567 shares of the basic materials company’s stock worth $919,000 after buying an additional 1,798 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Newmont by 18.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 19,355 shares of the basic materials company’s stock worth $1,538,000 after buying an additional 3,026 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in Newmont by 2,516.1% during the first quarter. Exchange Traded Concepts LLC now owns 10,046 shares of the basic materials company’s stock worth $798,000 after buying an additional 9,662 shares during the last quarter. 81.11% of the stock is owned by institutional investors.
Insider Buying and Selling at Newmont
In other Newmont news, CEO Thomas Ronald Palmer sold 11,000 shares of the company’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $42.71, for a total transaction of $469,810.00. Following the sale, the chief executive officer now directly owns 232,949 shares of the company’s stock, valued at $9,949,251.79. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Thomas Ronald Palmer sold 11,000 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $42.71, for a total value of $469,810.00. Following the sale, the chief executive officer now directly owns 232,949 shares of the company’s stock, valued at $9,949,251.79. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark Casper sold 4,890 shares of the stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $41.98, for a total transaction of $205,282.20. Following the completion of the sale, the insider now directly owns 18,217 shares in the company, valued at $764,749.66. The disclosure for this sale can be found here. Insiders have sold a total of 32,890 shares of company stock valued at $1,405,502 over the last three months. 0.11% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the stock. UBS Group upgraded shares of Newmont from a “neutral” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, September 6th. StockNews.com assumed coverage on shares of Newmont in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Barclays lowered their price objective on shares of Newmont from $57.00 to $55.00 and set an “equal weight” rating on the stock in a report on Friday. TheStreet downgraded shares of Newmont from a “b-” rating to a “c+” rating in a report on Thursday, September 22nd. Finally, The Goldman Sachs Group initiated coverage on shares of Newmont in a research note on Monday, September 12th. They issued a “buy” rating and a $53.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Newmont has a consensus rating of “Hold” and a consensus target price of $63.72.
Newmont Price Performance
NEM opened at $40.99 on Friday. The firm has a market cap of $32.54 billion, a P/E ratio of 32.53 and a beta of 0.25. The firm has a 50-day moving average of $42.16 and a 200 day moving average of $53.68. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.44 and a current ratio of 2.72. Newmont Co. has a fifty-two week low of $37.45 and a fifty-two week high of $86.37.
Newmont (NYSE:NEM – Get Rating) last released its quarterly earnings data on Tuesday, November 1st. The basic materials company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.02). The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Newmont had a net margin of 8.28% and a return on equity of 8.07%. On average, research analysts expect that Newmont Co. will post 1.89 EPS for the current year.
Newmont Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 8th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 5.37%. The ex-dividend date of this dividend is Wednesday, December 7th. Newmont’s dividend payout ratio (DPR) is presently 174.60%.
Newmont Profile
(Get Rating)
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, and Ghana. As of December 31, 2021, it had proven and probable gold reserves of 92.8 million ounces and land position of 62,800 square kilometers.
Read More
Want to see what other hedge funds are holding NEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newmont Co. (NYSE:NEM – Get Rating).
Receive News & Ratings for Newmont Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Newmont and related companies with MarketBeat.com’s FREE daily email newsletter.
