Mizuho Markets Cayman LP Sells 6,142 Shares of Newmont Corporation $NEM

Mizuho Markets Cayman LP reduced its stake in Newmont Corporation (NYSE:NEM) by 17.9% during the third quarter, Holdings Channel.com reports. The firm owned 28,135 shares of the basic materials company’s stock after selling 6,142 shares during the quarter. Mizuho Markets Cayman LP’s holdings in Newmont were worth $2,372,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of NEM. Physician Wealth Advisors Inc. increased its position in Newmont by 327.8% in the third quarter. Physician Wealth Advisors Inc. now owns 308 shares of the basic materials company’s stock worth $26,000 after buying an additional 236 shares in the last quarter. JPL Wealth Management LLC bought a new position in shares of Newmont in the third quarter worth about $27,000. Capital A Wealth Management LLC lifted its position in shares of Newmont by 1,648.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 507 shares of the basic materials company’s stock valued at $30,000 after buying an additional 478 shares in the last quarter. Caldwell Trust Co bought a new position in shares of Newmont during the 2nd quarter valued at approximately $31,000. Finally, Country Trust Bank bought a new position in shares of Newmont during the 2nd quarter valued at approximately $32,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NEM has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Newmont from a “hold” rating to a “buy” rating in a research note on Sunday, March 8th. Raymond James Financial upped their price target on shares of Newmont from $111.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, January 15th. UBS Group reduced their price objective on shares of Newmont from $160.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. DZ Bank upgraded shares of Newmont to a “strong-buy” rating in a research report on Monday, January 19th. Finally, The Goldman Sachs Group lifted their target price on shares of Newmont from $99.90 to $123.90 and gave the company a “buy” rating in a research note on Monday, January 12th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Newmont has a consensus rating of “Buy” and a consensus target price of $134.15.

Newmont Stock Up 0.6%

NYSE NEM opened at $110.19 on Tuesday. The stock’s 50 day moving average is $118.86 and its 200 day moving average is $98.95. The company has a current ratio of 2.29, a quick ratio of 2.02 and a debt-to-equity ratio of 0.16. Newmont Corporation has a 12 month low of $42.93 and a 12 month high of $134.88. The stock has a market cap of $119.87 billion, a PE ratio of 17.24, a P/E/G ratio of 0.85 and a beta of 0.39.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 19th. The basic materials company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.71. The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.18 billion. Newmont had a net margin of 31.25% and a return on equity of 23.28%. The company’s revenue was up 20.6% on a year-over-year basis. During the same period last year, the firm posted $1.40 EPS. Research analysts predict that Newmont Corporation will post 3.45 EPS for the current fiscal year.

Newmont Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Tuesday, March 3rd will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, March 3rd. This is a positive change from Newmont’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 0.9%. Newmont’s dividend payout ratio is 16.28%.

Newmont Company 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.