Newmont Corporation $NEM Position Trimmed by Beirne Wealth Consulting Services LLC

Beirne Wealth Consulting Services LLC decreased its holdings in shares of Newmont Corporation (NYSE:NEM) by 8.0% in the 2nd quarter, Holdings Channel reports. The firm owned 4,496 shares of the basic materials company’s stock after selling 391 shares during the quarter. Beirne Wealth Consulting Services LLC’s holdings in Newmont were worth $262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in shares of Newmont during the first quarter valued at $306,507,000. Pacer Advisors Inc. lifted its holdings 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 worth $259,580,000 after purchasing an additional 5,251,616 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Newmont by 1,502.5% in the second quarter. Assenagon Asset Management S.A. now owns 4,692,606 shares of the basic materials company’s stock worth $273,391,000 after purchasing an additional 4,399,778 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Newmont by 1,074.8% in 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. lifted its holdings in Newmont by 2,003.7% in 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 own 68.85% of the company’s stock.

Insider Activity at Newmont

In related news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $63.66, for a total value of $190,980.00. Following the sale, the executive vice president directly owned 58,736 shares of the company’s stock, valued at $3,739,133.76. This trade represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Brian Tabolt sold 7,015 shares of Newmont stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $68.02, for a total value of $477,160.30. Following the sale, the chief accounting officer directly owned 32,615 shares in the company, valued at $2,218,472.30. The trade was a 17.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,249 shares of company stock valued at $1,132,065 over the last ninety days. 0.05% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NEM. National Bank Financial upgraded Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, July 25th. Stifel Canada upgraded shares of Newmont to a “strong-buy” rating in a research note on Tuesday, July 8th. Cibc World Mkts raised Newmont from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. The Goldman Sachs Group set a $104.30 price objective on Newmont and gave the company a “buy” rating in a report on Sunday, October 12th. Finally, Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $71.50 to $114.00 in a report on Thursday, October 23rd. Five research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $86.92.

Newmont Trading Up 0.8%

Shares of Newmont stock opened at $79.26 on Wednesday. Newmont Corporation has a 12-month low of $36.86 and a 12-month high of $98.58. The stock has a market cap of $86.49 billion, a P/E ratio of 12.31, a P/E/G ratio of 0.53 and a beta of 0.34. 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 business’s 50 day moving average is $81.59 and its 200-day moving average is $66.08.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.44. The firm had revenue of $5.52 billion for 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 company’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.81 EPS. Equities research analysts predict that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

The firm 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 $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.00 annualized dividend and a yield of 1.3%. Newmont’s dividend payout ratio (DPR) is 15.53%.

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.