Newmont Corporation $NEM Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. cut its stake in shares of Newmont Corporation (NYSE:NEM) by 8.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,048 shares of the basic materials company’s stock after selling 5,142 shares during the quarter. Securian Asset Management Inc.’s holdings in Newmont were worth $4,472,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Harbor Capital Advisors Inc. increased its position in Newmont by 53.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 399 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 139 shares during the period. Summit Financial Wealth Advisors LLC grew its position in Newmont by 2.3% in the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 6,584 shares of the basic materials company’s stock valued at $566,000 after buying an additional 145 shares in the last quarter. Welch Group LLC increased its stake in Newmont by 1.3% during the 3rd quarter. Welch Group LLC now owns 12,187 shares of the basic materials company’s stock valued at $1,027,000 after buying an additional 153 shares during the period. Hemington Wealth Management increased its stake in Newmont by 17.6% during the 2nd quarter. Hemington Wealth Management now owns 1,135 shares of the basic materials company’s stock valued at $66,000 after buying an additional 170 shares during the period. Finally, IVC Wealth Advisors LLC raised its position in shares of Newmont by 1.3% during the 2nd quarter. IVC Wealth Advisors LLC now owns 13,947 shares of the basic materials company’s stock worth $813,000 after buying an additional 173 shares in the last quarter. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Up 5.5%

Shares of NEM stock opened at $109.20 on Wednesday. Newmont Corporation has a 52-week low of $37.84 and a 52-week high of $109.30. The stock has a market cap of $119.16 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 0.62 and a beta of 0.41. The firm’s 50-day moving average is $92.72 and its 200-day moving average is $79.84. 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 (NYSE:NEM) last released its quarterly earnings data on Thursday, October 23rd. The basic materials company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.27 by $0.44. Newmont had a net margin of 33.42% and a return on equity of 20.35%. The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the previous year, the company earned $0.81 earnings per share. The company’s quarterly revenue was up 20.0% on a year-over-year basis. Sell-side analysts predict that Newmont Corporation will post 3.45 EPS for the current year.

Newmont Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Wednesday, November 26th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, November 26th. Newmont’s payout ratio is 15.53%.

Insider Activity

In other news, Director Bruce R. Brook sold 2,080 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the completion of the transaction, the director directly owned 32,709 shares in the company, valued at approximately $3,021,003.24. The trade was a 5.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the chief executive officer owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. This represents a 1.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 9,160 shares of company stock valued at $767,206 in the last ninety days. 0.05% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on NEM. BNP Paribas Exane lowered Newmont from an “outperform” rating to a “neutral” rating and set a $97.00 price objective for the company. in a research note on Friday, December 5th. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $120.00 target price on shares of Newmont in a research report on Sunday, December 7th. Cibc World Mkts raised shares of Newmont from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Finally, National Bankshares boosted their price objective on shares of Newmont from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Five research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $97.08.

About Newmont

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.