Newmont Corporation $NEM Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC reduced its stake in Newmont Corporation (NYSE:NEM) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,121,534 shares of the basic materials company’s stock after selling 462,787 shares during the quarter. Newmont comprises approximately 2.0% of First Eagle Investment Management LLC’s portfolio, making the stock its 16th biggest holding. First Eagle Investment Management LLC owned approximately 1.56% of Newmont worth $997,501,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Colonial Trust Advisors boosted its stake in shares of Newmont by 315.4% during the 1st quarter. Colonial Trust Advisors now owns 565 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 429 shares during the last quarter. Concord Wealth Partners lifted its stake in shares of Newmont by 534.7% during the second quarter. Concord Wealth Partners now owns 457 shares of the basic materials company’s stock valued at $27,000 after buying an additional 385 shares during the period. Evermay Wealth Management LLC boosted its position in Newmont by 408.2% during the second quarter. Evermay Wealth Management LLC now owns 498 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 400 shares during the last quarter. Private Trust Co. NA grew its stake in Newmont by 122.6% in the 1st quarter. Private Trust Co. NA now owns 630 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 347 shares during the period. Finally, TCTC Holdings LLC grew its stake in Newmont by 123.1% in the 1st quarter. TCTC Holdings LLC now owns 656 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 362 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Insider Transactions at Newmont

In other news, Director Bruce R. Brook sold 2,080 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $80.96, for a total transaction of $168,396.80. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $81.34, for a total value 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. This trade represents a 1.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 11,237 shares of company stock valued at $906,799. 0.05% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NEM. Bank of America increased their price target on Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Cibc World Mkts upgraded Newmont from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. CIBC set a $112.00 price target on Newmont and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Zacks Research raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Finally, National Bankshares reiterated an “outperform” rating on shares of Newmont in a report on Monday, September 22nd. Five equities 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 assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $86.92.

Newmont Stock Performance

Shares of NYSE:NEM opened at $82.55 on Friday. The business’s 50-day simple moving average is $82.96 and its 200 day simple moving average is $67.27. The company has a market cap of $90.08 billion, a P/E ratio of 12.82, a PEG ratio of 0.53 and a beta of 0.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. Newmont Corporation has a one year low of $36.86 and a one year high of $98.58.

Newmont (NYSE:NEM) last issued its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.44. The company had revenue of $5.52 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company earned $0.81 earnings per share. On average, sell-side analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current fiscal year.

Newmont Dividend Announcement

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