Newmont Corporation $NEM Shares Sold by Secured Retirement Advisors LLC

Secured Retirement Advisors LLC lessened its position in Newmont Corporation (NYSE:NEM) by 17.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 22,521 shares of the basic materials company’s stock after selling 4,658 shares during the period. Secured Retirement Advisors LLC’s holdings in Newmont were worth $1,312,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Nuveen LLC acquired a new position in Newmont in the 1st quarter valued at $306,507,000. Pacer Advisors Inc. increased its stake in Newmont by 4,203.5% in the first quarter. Pacer Advisors Inc. now owns 5,376,551 shares of the basic materials company’s stock valued at $259,580,000 after purchasing an additional 5,251,616 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Newmont by 1,502.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock valued at $273,391,000 after acquiring an additional 4,399,778 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Newmont by 1,074.8% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company’s stock valued at $116,416,000 after acquiring an additional 2,206,017 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Newmont by 2,003.7% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,581,171 shares of the basic materials company’s stock valued at $92,119,000 after acquiring an additional 1,506,010 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on NEM shares. The Goldman Sachs Group upped their price target on shares of Newmont from $63.10 to $77.30 and gave the stock a “neutral” rating in a research report on Thursday, September 11th. Stifel Nicolaus initiated coverage on Newmont in a report on Wednesday, July 9th. They set a “buy” rating and a $73.00 price objective for the company. CIBC upped their price objective on Newmont from $74.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday, September 12th. Zacks Research downgraded Newmont from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 4th. Finally, Stifel Canada upgraded Newmont to a “strong-buy” rating in a research note on Tuesday, July 8th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.18.

Newmont Stock Down 1.7%

Shares of NYSE NEM opened at $87.03 on Wednesday. The company has a current ratio of 2.23, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $89.37. The company has a market cap of $95.59 billion, a P/E ratio of 15.62, a P/E/G ratio of 0.99 and a beta of 0.34. The stock has a fifty day moving average price of $75.33 and a 200 day moving average price of $61.73.

Newmont (NYSE:NEM) last posted its earnings results on Thursday, July 24th. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.48. Newmont had a return on equity of 17.86% and a net margin of 30.50%.The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same quarter last year, the firm earned $0.72 earnings per share. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. Research analysts anticipate that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Thursday, September 4th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, September 4th. Newmont’s dividend payout ratio (DPR) is presently 17.95%.

Insider Activity at Newmont

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total transaction of $176,779.20. Following the completion of the sale, the director owned 36,869 shares in the company, valued at $3,133,496.31. This trade represents a 5.34% 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 firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $63.66, for a total value of $190,980.00. Following the sale, the executive vice president owned 58,736 shares of the company’s stock, valued at approximately $3,739,133.76. This trade represents a 4.86% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 16,249 shares of company stock valued at $1,132,065. Corporate insiders own 0.05% of the company’s stock.

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.