Newmont Corporation $NEM Position Trimmed by Rakuten Securities Inc.

Rakuten Securities Inc. reduced its stake in shares of Newmont Corporation (NYSE:NEM) by 36.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 17,648 shares of the basic materials company’s stock after selling 10,221 shares during the quarter. Rakuten Securities Inc.’s holdings in Newmont were worth $1,488,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NEM. BCS Private Wealth Management Inc. grew its holdings in shares of Newmont by 9.3% during the 3rd quarter. BCS Private Wealth Management Inc. now owns 65,908 shares of the basic materials company’s stock valued at $5,557,000 after acquiring an additional 5,632 shares in the last quarter. Procyon Advisors LLC raised its holdings in Newmont by 105.4% during the third quarter. Procyon Advisors LLC now owns 32,930 shares of the basic materials company’s stock valued at $2,776,000 after buying an additional 16,898 shares in the last quarter. Stephens Inc. AR lifted its position in shares of Newmont by 27.1% in the third quarter. Stephens Inc. AR now owns 227,329 shares of the basic materials company’s stock worth $19,166,000 after buying an additional 48,491 shares during the last quarter. WealthPLAN Partners LLC bought a new stake in shares of Newmont during the 3rd quarter worth about $219,000. Finally, Plan Group Financial LLC acquired a new position in shares of Newmont during the 3rd quarter valued at about $596,000. 68.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newmont

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 shares were sold at an average price of $92.36, for a total value of $192,108.80. Following the transaction, the director directly owned 32,709 shares in the company, valued at $3,021,003.24. The trade was a 5.98% decrease in their ownership of the stock. The transaction 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 firm’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 sale, the chief executive officer directly owned 279,923 shares of the company’s stock, valued at approximately $22,768,936.82. The trade was a 1.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,160 shares of company stock worth $767,206 in the last 90 days. 0.05% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NEM. Raymond James Financial restated an “outperform” rating and issued a $111.00 price objective on shares of Newmont in a research note on Monday, December 29th. Citigroup reissued a “buy” rating on shares of Newmont in a research report on Monday. Wall Street Zen cut shares of Newmont from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 2nd. Scotiabank upgraded Newmont from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $71.50 to $114.00 in a research note on Thursday, October 23rd. Finally, TD Securities increased their target price on Newmont from $67.00 to $89.00 and gave the company a “hold” rating in a research note on Wednesday, October 8th. Five investment 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $97.08.

Newmont Stock Down 0.4%

Shares of NEM stock opened at $114.14 on Thursday. Newmont Corporation has a one year low of $40.35 and a one year high of $115.70. 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 stock has a fifty day moving average price of $96.33 and a 200 day moving average price of $81.90. The stock has a market cap of $124.55 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 0.85 and a beta of 0.41.

Newmont (NYSE:NEM) last released 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 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%. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period last year, the firm earned $0.81 EPS. Analysts predict that Newmont Corporation will post 3.45 earnings per share for the current year.

Newmont Announces Dividend

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

Newmont 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.