Newmont Corporation $NEM Shares Sold by Cohen & Steers Inc.

Cohen & Steers Inc. reduced its holdings in shares of Newmont Corporation (NYSE:NEM) by 14.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 240,830 shares of the basic materials company’s stock after selling 42,173 shares during the quarter. Cohen & Steers Inc.’s holdings in Newmont were worth $24,047,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. CWM LLC increased its holdings in shares of Newmont by 64.6% in the fourth quarter. CWM LLC now owns 202,892 shares of the basic materials company’s stock valued at $20,259,000 after purchasing an additional 79,617 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Newmont by 24.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 280,920 shares of the basic materials company’s stock valued at $30,775,000 after purchasing an additional 54,530 shares during the period. AustralianSuper Pty Ltd increased its holdings in shares of Newmont by 124.8% in the third quarter. AustralianSuper Pty Ltd now owns 330,250 shares of the basic materials company’s stock valued at $27,843,000 after purchasing an additional 183,360 shares during the period. Waverton Investment Management Ltd increased its holdings in shares of Newmont by 3.4% in the third quarter. Waverton Investment Management Ltd now owns 704,331 shares of the basic materials company’s stock valued at $59,365,000 after purchasing an additional 23,139 shares during the period. Finally, Leonteq Securities AG acquired a new position in shares of Newmont in the fourth quarter valued at about $9,018,000. 68.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NEM has been the topic of a number of research reports. Citigroup increased their price objective on Newmont from $118.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. The Goldman Sachs Group cut their price objective on Newmont from $125.10 to $122.50 and set a “buy” rating on the stock in a report on Thursday, June 4th. BNP Paribas Exane raised their target price on Newmont from $123.00 to $128.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. Jefferies Financial Group raised their target price on Newmont from $154.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Finally, Barclays began coverage on Newmont in a report on Thursday, May 21st. They set an “overweight” rating and a $133.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and an average target price of $142.26.

Insider Activity at Newmont

In other Newmont news, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $315,960.00. Following the transaction, the executive vice president owned 46,315 shares in the company, valued at approximately $4,877,895.80. This represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $105.32, for a total value of $408,852.24. Following the transaction, the chief executive officer owned 142,999 shares in the company, valued at $15,060,654.68. This represents a 2.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 49,950 shares of company stock valued at $5,494,288 in the last ninety days. 0.06% of the stock is currently owned by company insiders.

Newmont Stock Performance

Shares of NEM stock opened at $100.10 on Friday. The company has a market capitalization of $106.86 billion, a P/E ratio of 12.98, a P/E/G ratio of 1.62 and a beta of 0.42. The business’s 50 day moving average is $110.94 and its two-hundred day moving average is $109.98. The company has a current ratio of 2.44, a quick ratio of 2.17 and a debt-to-equity ratio of 0.15. Newmont Corporation has a 12-month low of $55.37 and a 12-month high of $134.88.

Newmont (NYSE:NEM) last issued its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. The company had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.Newmont’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.25 earnings per share. Analysts expect that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a yield of 1.0%. Newmont’s dividend payout ratio is currently 13.49%.

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.