Pine Valley Investments Ltd Liability Co Decreases Position in Newmont Corporation $NEM

Pine Valley Investments Ltd Liability Co trimmed its position in Newmont Corporation (NYSE:NEM) by 70.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,461 shares of the basic materials company’s stock after selling 17,643 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Newmont were worth $808,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Cedar Mountain Advisors LLC purchased a new stake in shares of Newmont during the first quarter worth approximately $25,000. Pinnacle Bancorp Inc. acquired a new position in Newmont in the 1st quarter valued at $25,000. Swiss RE Ltd. purchased a new position in Newmont in the 4th quarter valued at $26,000. Cornerstone Planning Group LLC lifted its holdings in Newmont by 312.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 206 shares in the last quarter. Finally, Laurel Wealth Advisors LLC acquired a new stake in Newmont during the 4th quarter worth $30,000. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Activity

In other news, CEO Natascha Viljoen sold 3,882 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $105.32, for a total value of $408,852.24. Following the completion of the sale, the chief executive officer owned 142,999 shares of the company’s stock, valued at $15,060,654.68. This represents a 2.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Peter Toth sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $92.38, for a total transaction of $277,140.00. Following the completion of the sale, the executive vice president directly owned 43,315 shares of the company’s stock, valued at approximately $4,001,439.70. This trade represents a 6.48% 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. Over the last 90 days, insiders have sold 9,882 shares of company stock valued at $1,001,952. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NEM. Zacks Research lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. TD Cowen reissued a “buy” rating on shares of Newmont in a research note on Monday, April 27th. Macquarie Infrastructure lowered their price target on shares of Newmont from $133.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday, June 15th. UBS Group dropped their price objective on shares of Newmont from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Finally, Bank of America cut their price objective on shares of Newmont from $157.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.11.

Newmont Stock Up 2.6%

Shares of NYSE:NEM opened at $97.84 on Wednesday. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average of $97.97 and a two-hundred day moving average of $109.18. The stock has a market cap of $103.09 billion, a P/E ratio of 12.35, a PEG ratio of 1.06 and a beta of 0.47. Newmont Corporation has a 52-week low of $64.96 and a 52-week high of $134.88.

Newmont (NYSE:NEM) last issued its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. Newmont had a return on equity of 29.10% and a net margin of 33.36%.The business had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $6.35 billion. During the same period last year, the company earned $1.43 EPS. On average, research analysts expect that Newmont Corporation will post 8.99 earnings per share for the current year.

Newmont Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.1%. The ex-dividend date is Thursday, September 3rd. Newmont’s dividend payout ratio (DPR) is presently 13.13%.

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.