Newmont Corporation $NEM Shares Sold by Intellectus Partners LLC

Intellectus Partners LLC trimmed its holdings in shares of Newmont Corporation (NYSE:NEM) by 8.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,446 shares of the basic materials company’s stock after selling 3,388 shares during the period. Intellectus Partners LLC’s holdings in Newmont were worth $2,123,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in shares of Newmont by 15.7% in the fourth quarter. Brighton Jones LLC now owns 13,606 shares of the basic materials company’s stock worth $506,000 after acquiring an additional 1,847 shares during the last quarter. Private Trust Co. NA boosted its stake in shares of Newmont by 122.6% during the first quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 347 shares during the last quarter. Mutual Advisors LLC increased its position in Newmont by 1.9% during the 1st quarter. Mutual Advisors LLC now owns 18,668 shares of the basic materials company’s stock worth $901,000 after purchasing an additional 356 shares in the last quarter. Principal Financial Group Inc. raised its stake in Newmont by 0.7% in the 1st quarter. Principal Financial Group Inc. now owns 1,337,359 shares of the basic materials company’s stock valued at $64,568,000 after purchasing an additional 9,477 shares during the last quarter. Finally, Checchi Capital Advisers LLC raised its stake in Newmont by 15.3% in the 1st quarter. Checchi Capital Advisers LLC now owns 7,070 shares of the basic materials company’s stock valued at $341,000 after purchasing an additional 939 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NEM shares. TD Securities raised their price target on shares of Newmont from $67.00 to $89.00 and gave the stock a “hold” rating in a research note on Wednesday, October 8th. Scotiabank raised shares of Newmont from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $71.50 to $114.00 in a research note on Thursday, October 23rd. Zacks Research upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Stifel Canada upgraded Newmont to a “strong-buy” rating in a report on Tuesday, July 8th. Finally, Wall Street Zen lowered Newmont from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Five analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $86.92.

Insider Buying and Selling at Newmont

In other Newmont news, CAO Brian Tabolt sold 7,015 shares of the company’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $68.02, for a total transaction of $477,160.30. Following the completion of the sale, the chief accounting officer directly owned 32,615 shares in the company, valued at $2,218,472.30. This represents a 17.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $84.99, for a total value of $176,779.20. Following the completion of the transaction, the director owned 36,869 shares in the company, valued at approximately $3,133,496.31. This trade represents a 5.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,172 shares of company stock worth $808,863 over the last ninety days. Corporate insiders own 0.05% of the company’s stock.

Newmont Trading Down 1.8%

Shares of NEM stock opened at $80.85 on Monday. The firm’s 50-day simple moving average is $82.25 and its 200-day simple moving average is $66.70. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $98.58. The firm has a market cap of $88.23 billion, a P/E ratio of 12.55, a PEG ratio of 0.53 and a beta of 0.34.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.27 by $0.44. The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.14 billion. Newmont had a net margin of 33.42% and a return on equity of 20.35%. Newmont’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.81 earnings per share. As a group, equities analysts forecast that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Wednesday, November 26th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, November 26th. Newmont’s dividend payout ratio is presently 15.53%.

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.