Newmont Corporation $NEM Position Decreased by TSP Capital Management Group LLC

TSP Capital Management Group LLC lowered its holdings in Newmont Corporation (NYSE:NEM) by 13.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,816 shares of the basic materials company’s stock after selling 16,793 shares during the period. Newmont comprises 2.4% of TSP Capital Management Group LLC’s holdings, making the stock its 19th biggest holding. TSP Capital Management Group LLC’s holdings in Newmont were worth $9,090,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Newmont in the second quarter valued at $919,170,000. Invesco Ltd. raised its position in shares of Newmont by 45.0% during the second quarter. Invesco Ltd. now owns 15,587,917 shares of the basic materials company’s stock worth $908,152,000 after purchasing an additional 4,839,447 shares during the period. Legal & General Group Plc lifted its holdings in shares of Newmont by 6.3% during the second quarter. Legal & General Group Plc now owns 7,444,729 shares of the basic materials company’s stock valued at $433,236,000 after purchasing an additional 438,748 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Newmont by 1,502.5% in the 2nd 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 purchasing an additional 4,399,778 shares during the period. Finally, Boston Partners increased its stake in Newmont by 4,090.7% in the 2nd quarter. Boston Partners now owns 4,643,057 shares of the basic materials company’s stock worth $272,558,000 after purchasing an additional 4,532,263 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. TD Securities upped their price objective on shares of Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a research note on Wednesday, October 8th. Macquarie raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 5th. BNP Paribas downgraded shares of Newmont from an “outperform” rating to a “hold” rating and set a $97.00 target price on the stock. in a research note on Friday, December 5th. National Bankshares increased their target price on Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Finally, Scotiabank raised Newmont from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $71.50 to $114.00 in a research report on Thursday, October 23rd. Five investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $97.08.

Newmont Trading Up 1.4%

Newmont stock opened at $101.23 on Monday. Newmont Corporation has a 12 month low of $37.68 and a 12 month high of $106.34. 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 stock has a market cap of $110.46 billion, a P/E ratio of 15.72, a P/E/G ratio of 0.61 and a beta of 0.41. The company’s fifty day simple moving average is $91.62 and its 200-day simple moving average is $79.17.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.44. Newmont had a return on equity of 20.35% and a net margin of 33.42%.The firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter last year, the firm earned $0.81 earnings per share. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. As a group, sell-side analysts forecast that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Wednesday, November 26th were paid a $0.25 dividend. The ex-dividend date was Wednesday, November 26th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Newmont’s payout ratio is 15.53%.

Insider Buying and Selling

In other Newmont news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the sale, the director owned 32,709 shares of the company’s stock, valued at $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas Ronald Palmer sold 5,000 shares of the company’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 sale, the chief executive officer owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This trade represents a 1.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 9,160 shares of company stock valued at $767,206 over the last quarter. Corporate insiders own 0.05% of the company’s stock.

Newmont Company Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.