Newmont Corporation $NEM Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. trimmed its position in Newmont Corporation (NYSE:NEM) by 8.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 406,651 shares of the basic materials company’s stock after selling 35,214 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Newmont were worth $23,692,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northern Trust Corp lifted its holdings in Newmont by 1.5% during the 1st quarter. Northern Trust Corp now owns 12,934,095 shares of the basic materials company’s stock worth $624,458,000 after buying an additional 191,940 shares during the last quarter. Amundi raised its position in shares of Newmont by 2.8% during the 1st quarter. Amundi now owns 12,646,114 shares of the basic materials company’s stock worth $611,187,000 after acquiring an additional 343,535 shares in the last quarter. Invesco Ltd. lifted its stake in Newmont by 2.2% during the first quarter. Invesco Ltd. now owns 10,748,470 shares of the basic materials company’s stock worth $518,936,000 after purchasing an additional 228,116 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Newmont by 15.9% during the first quarter. Dimensional Fund Advisors LP now owns 8,772,477 shares of the basic materials company’s stock worth $423,572,000 after purchasing an additional 1,201,237 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Newmont by 0.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,901,244 shares of the basic materials company’s stock valued at $333,192,000 after purchasing an additional 50,840 shares in the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NEM shares. Bank of America boosted their price objective on shares of Newmont from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. National Bank Financial upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 25th. Zacks Research upgraded shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. CIBC set a $112.00 target price on Newmont and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Finally, Raymond James Financial set a $99.00 target price on Newmont and gave the company an “outperform” rating in a report on Friday, October 24th. Five investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $88.99.

Insider Activity at Newmont

In other news, CEO Thomas Ronald Palmer sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $81.34, for a total transaction of $406,700.00. Following the completion of the sale, the chief executive officer owned 279,923 shares in the company, valued at $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce R. Brook sold 2,080 shares of Newmont stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $80.96, for a total transaction of $168,396.80. Following the completion of the transaction, the director owned 34,789 shares in the company, valued at approximately $2,816,517.44. This trade represents a 5.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,237 shares of company stock valued at $906,799 in the last 90 days. Company insiders own 0.05% of the company’s stock.

Newmont Trading Down 0.8%

Shares of Newmont stock opened at $87.06 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.74 and a current ratio of 2.04. The company has a market capitalization of $95.00 billion, a P/E ratio of 13.52, a PEG ratio of 0.53 and a beta of 0.33. Newmont Corporation has a 1 year low of $36.86 and a 1 year high of $98.58. The company’s fifty day moving average is $84.81 and its two-hundred day moving average is $69.17.

Newmont (NYSE:NEM) last announced its earnings results 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 business 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%. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.81 earnings per share. Analysts forecast that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, November 26th. Newmont’s dividend payout ratio (DPR) is 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.