Evelyn Partners Investment Management LLP Sells 10,441 Shares of Newmont Corporation $NEM

Evelyn Partners Investment Management LLP cut its stake in shares of Newmont Corporation (NYSE:NEM) by 5.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 186,964 shares of the basic materials company’s stock after selling 10,441 shares during the quarter. Evelyn Partners Investment Management LLP’s holdings in Newmont were worth $18,668,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Ariadne Wealth Management LP purchased a new stake in shares of Newmont during the fourth quarter valued at $314,000. Brown Advisory Inc. boosted its position in shares of Newmont by 2.7% during the fourth quarter. Brown Advisory Inc. now owns 62,836 shares of the basic materials company’s stock valued at $6,274,000 after buying an additional 1,629 shares during the last quarter. Adams Natural Resources Fund Inc. boosted its position in shares of Newmont by 2.5% during the fourth quarter. Adams Natural Resources Fund Inc. now owns 128,400 shares of the basic materials company’s stock valued at $12,821,000 after buying an additional 3,100 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Newmont by 110.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,743,228 shares of the basic materials company’s stock valued at $873,011,000 after buying an additional 4,588,018 shares during the last quarter. Finally, Atlas Capital Advisors Inc. purchased a new stake in shares of Newmont during the fourth quarter valued at $315,000. 68.85% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Newmont news, insider David John Thornton sold 2,296 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $252,812.56. Following the transaction, the insider directly owned 23,163 shares of the company’s stock, valued at approximately $2,550,477.93. This trade represents a 9.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Peter Wexler sold 13,378 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $110.11, for a total value of $1,473,051.58. Following the completion of the transaction, the executive vice president directly owned 67,865 shares in the company, valued at $7,472,615.15. The trade was a 16.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 49,950 shares of company stock valued at $5,494,288. 0.06% of the stock is currently owned by company insiders.

Newmont Trading Up 2.6%

Shares of NYSE:NEM opened at $100.10 on Friday. The stock has a market capitalization of $106.86 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 1.66 and a beta of 0.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44. The stock’s 50-day simple moving average is $110.94 and its two-hundred day simple moving average is $109.98. Newmont Corporation has a 52-week low of $55.37 and a 52-week high of $134.88.

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

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s dividend payout ratio (DPR) is presently 13.49%.

Analysts Set New Price Targets

NEM has been the topic of several recent analyst reports. Royal Bank Of Canada dropped their price objective on Newmont from $160.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 3rd. TD increased their price objective on Newmont from $116.00 to $129.00 and gave the company a “hold” rating in a research report on Monday, April 27th. TD Cowen reaffirmed a “buy” rating on shares of Newmont in a research report on Monday, April 27th. Zacks Research cut Newmont from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 3rd. Finally, Citigroup increased their price objective on Newmont from $118.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Newmont currently has a consensus rating of “Moderate Buy” and an average price target of $142.26.

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.