Ellevest Inc. Trims Position in Newmont Corporation $NEM

Ellevest Inc. decreased its position in Newmont Corporation (NYSE:NEM) by 64.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,423 shares of the basic materials company’s stock after selling 15,090 shares during the period. Ellevest Inc.’s holdings in Newmont were worth $491,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Nuveen LLC purchased a new stake in Newmont in the first quarter valued at $306,507,000. Pacer Advisors Inc. raised its position 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 period. Assenagon Asset Management S.A. lifted its position 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 valued at $273,391,000 after buying an additional 4,399,778 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in Newmont by 1,074.8% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,411,264 shares of the basic materials company’s stock worth $116,416,000 after buying an additional 2,206,017 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Newmont by 2,003.7% during the second 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. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Weiss Ratings raised shares of Newmont from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. Macquarie lowered Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 2nd. Zacks Research raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Wall Street Zen cut Newmont from a “strong-buy” rating to a “buy” rating in a report on Sunday. Finally, The Goldman Sachs Group set a $104.30 target price on Newmont and gave the company a “buy” rating in a research report on Sunday, October 12th. Five research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $86.92.

Insider Buying and Selling at Newmont

In related news, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the transaction, the chief executive officer owned 279,923 shares in the company, valued at approximately $22,768,936.82. The trade was a 1.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bruce R. Brook sold 2,080 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $80.96, for a total value of $168,396.80. Following the completion of the transaction, the director directly owned 34,789 shares in the company, valued at $2,816,517.44. This trade represents a 5.64% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 11,237 shares of company stock valued at $906,799. Corporate insiders own 0.05% of the company’s stock.

Newmont Price Performance

Shares of NYSE NEM opened at $81.61 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.74. The company has a market cap of $89.06 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 0.53 and a beta of 0.33. The stock’s 50-day moving average is $82.77 and its two-hundred day moving average is $67.16. Newmont Corporation has a 1-year low of $36.86 and a 1-year high of $98.58.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.44. The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.14 billion. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The business’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 earnings per share. Analysts forecast that Newmont Corporation will post 3.45 EPS for the current fiscal 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 $0.25 dividend. 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 (DPR) is presently 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.