Newmont Corporation $NEM Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC reduced its stake in shares of Newmont Corporation (NYSE:NEM) by 4.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 731,024 shares of the basic materials company’s stock after selling 30,150 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Newmont were worth $42,589,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Arista Wealth Management LLC acquired a new position in Newmont during the 2nd quarter worth $209,000. Stratos Wealth Partners LTD. boosted its holdings in shares of Newmont by 115.6% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 51,201 shares of the basic materials company’s stock valued at $2,983,000 after buying an additional 27,456 shares during the period. Praxis Investment Management Inc. boosted its holdings in shares of Newmont by 12.2% in the 2nd quarter. Praxis Investment Management Inc. now owns 34,260 shares of the basic materials company’s stock valued at $1,996,000 after buying an additional 3,730 shares during the period. Stableford Capital II LLC acquired a new position in shares of Newmont in the 2nd quarter valued at about $1,060,000. Finally, Lesa Sroufe & Co boosted its holdings in shares of Newmont by 1.8% in the 2nd quarter. Lesa Sroufe & Co now owns 80,638 shares of the basic materials company’s stock valued at $4,698,000 after buying an additional 1,400 shares during the period. 68.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Newmont news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $63.66, for a total transaction of $190,980.00. Following the sale, the executive vice president directly owned 58,736 shares in the company, valued at approximately $3,739,133.76. The trade was a 4.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total transaction of $176,779.20. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,249 shares of company stock worth $1,132,065. 0.05% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on NEM shares. Stifel Nicolaus started coverage on shares of Newmont in a report on Wednesday, July 9th. They issued a “buy” rating and a $73.00 price target for the company. BNP Paribas Exane lifted their price target on shares of Newmont from $66.00 to $92.00 and gave the company an “outperform” rating in a report on Monday, September 15th. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. National Bank Financial raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, July 25th. Finally, UBS Group lifted their price target on shares of Newmont from $92.00 to $105.50 and gave the company a “buy” rating in a report on Thursday. Four analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $87.59.

Newmont Trading Down 7.6%

Shares of NYSE:NEM opened at $90.76 on Friday. The company has a market cap of $99.69 billion, a PE ratio of 16.29, a P/E/G ratio of 1.07 and a beta of 0.34. The company’s 50-day moving average price is $79.24 and its 200 day moving average price is $63.97. Newmont Corporation has a fifty-two week low of $36.86 and a fifty-two week high of $98.58. The company has a quick ratio of 1.91, a current ratio of 2.23 and a debt-to-equity ratio of 0.23.

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

Newmont Announces Dividend

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

About Newmont

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.